Company registration number 06510185 (England and Wales)
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
COMPANY INFORMATION
Directors
Professor Simon Green
Mr Andreas Campomar
Company number
06510185
Registered office
85 Great Portland Street
First Floor
London
England
W1W 7LT
Accountants
Kirk Rice LLP
Zeeta House
200 Upper Richmond Road
Putney
London
SW15 2SH
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOCIAL AFFAIRS UNIT MAGAZINES LIMITED FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Social Affairs Unit Magazines Limited for the year ended 30 June 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Social Affairs Unit Magazines Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Social Affairs Unit Magazines Limited and state those matters that we have agreed to state to the Board of Directors of Social Affairs Unit Magazines Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Social Affairs Unit Magazines Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Social Affairs Unit Magazines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Social Affairs Unit Magazines Limited. You consider that Social Affairs Unit Magazines Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Social Affairs Unit Magazines Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
19 February 2024
Zeeta House
200 Upper Richmond Road
Putney
London
SW15 2SH
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
4,080
4,080
Cash at bank and in hand
2,811
4,230
6,891
8,310
Creditors: amounts falling due within one year
4
(1,319)
(1,012)
Net current assets
5,572
7,298
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
5,571
7,297
Total equity
5,572
7,298
The trueDirectors elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 February 2024 and are signed on its behalf by:
Professor Simon Green
Director
Company registration number 06510185 (England and Wales)
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Social Affairs Unit Magazines Limited is a private company limited by shares incorporated in England and Wales. The registered office is 85 Great Portland Street, First Floor, London, England, W1W 7LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The Directors have a reasonable expectation that the company has adequate current and future resources and sources of income to continue in operational existence for the foreseeable future. Accordingly, the directors will continue to adopt the going concern basis in preparing the annual report and financial statements.true
1.3
Turnover
Turnover is the amount receivable for the provision of services falling within the company's ordinary activities excluding value added tax and grants receivable from The Social Affairs Unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The Directors confirm that as at the reporting date, the company held no office equipment and did not have any computer equipment in its possession.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including Directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,080
4,080
4
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
69
12
Other creditors
1,250
1,000
1,319
1,012
5
Parent company
This company is a 100% owned subsidiary of The Social Affairs Unit, which is the ultimate controlling party of this entity.
The registered office of The Social Affairs Unit is located at 85 Great Portland Street, First Floor, London, England, W1W 7LT.
Accounts for The Social Affairs Unit can be obtained from Companies House.