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Registered Number: 09135330
England and Wales

 

 

 

CHICHESTER METRO NEWS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Current assets      
Stocks 18,500    16,225 
Cash at bank and in hand 32,620    39,135 
51,120    55,360 
Creditors: amount falling due within one year (47,268)   (52,064)
Net current assets 3,852    3,296 
 
Total assets less current liabilities 3,852    3,296 
Net assets 3,852    3,296 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 3,752    3,196 
Shareholder's funds 3,852    3,296 
 


For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 22 February 2024 and were signed by:


-------------------------------
Morshida Akhtar
Director
1
General Information
CHICHESTER METRO NEWS LIMITED is a private company, limited by shares, registered in England, registration number 09135330, registration address Ground Floor, 48 White Horse Road, London, County (optional), E1 0ND.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Cost of sales
Cost of sales comprises the value of goods and services purchased by the company, net of Value Added Tax and trade discounts as applicable.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 8,353    11,939 
8,353    11,939 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 1    1 
Marketing 1   
 

3.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

2