Registered number
09866676
RAJ NEWS LIMITED
Filleted Unaudited Accounts
30 November 2022
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
RAJ NEWS LIMITED
Registered number: 09866676
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 2,500 7,500
Tangible assets 4 2,638 3,518
5,138 11,018
Current assets
Cash at bank and in hand 57,332 40,477
Creditors: amounts falling due within one year 5 (15,553) (12,055)
Net current assets 41,779 28,422
Net assets 46,917 39,440
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,817 39,340
Shareholders' funds 46,917 39,440
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs N Raithatha
Director
Approved by the board on 1 September 2023
RAJ NEWS LIMITED
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts. Turnover includes revenue earned from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2021 25,000
At 30 November 2022 25,000
Amortisation
At 1 December 2021 17,500
Provided during the year 5,000
At 30 November 2022 22,500
Net book value
At 30 November 2022 2,500
At 30 November 2021 7,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 6,698
At 30 November 2022 6,698
Depreciation
At 1 December 2021 3,180
Charge for the year 880
At 30 November 2022 4,060
Net book value
At 30 November 2022 2,638
At 30 November 2021 3,518
5 Creditors: amounts falling due within one year 2022 2021
£ £
Corporation tax 8,828 7,629
Other taxes and social security costs 280 259
Other creditors 6,445 4,167
15,553 12,055
6 Controlling party
The Company was under the control of Mrs N Raithatha and Mr D Raithatha, both being the directors and shareholders in the company throughout the year.
7 Other information
RAJ NEWS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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