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REGISTERED NUMBER: 08704099 (England and Wales)










Unaudited Financial Statements for the Year Ended 30 September 2023

for

Kenwick News Ltd

Kenwick News Ltd (Registered number: 08704099)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kenwick News Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTOR: R Singh





REGISTERED OFFICE: 21 Kenwick Road
Louth
United Kingdom
Lincolnshire
LN11 8EH





REGISTERED NUMBER: 08704099 (England and Wales)





ACCOUNTANTS: Parkins Accountants Ltd
T/A, Parkins, Chartered Accountants
Moor Park House
Bawtry Rd
Wickersley
Rotherham
South Yorkshire
S66 2BL

Kenwick News Ltd (Registered number: 08704099)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 360,500 368,185
360,500 370,185

CURRENT ASSETS
Stocks 6 102,500 65,000
Debtors 7 20,001 10,446
Cash at bank and in hand 240,093 158,855
362,594 234,301
CREDITORS
Amounts falling due within one year 8 133,735 96,018
NET CURRENT ASSETS 228,859 138,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,359

508,468

CREDITORS
Amounts falling due after more than one
year

9

(111,673

)

(131,223

)

PROVISIONS FOR LIABILITIES 11 (36,321 ) (28,987 )
NET ASSETS 441,365 348,258

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 441,265 348,158
SHAREHOLDERS' FUNDS 441,365 348,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kenwick News Ltd (Registered number: 08704099)

Balance Sheet - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





R Singh - Director


Kenwick News Ltd (Registered number: 08704099)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Kenwick News Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Kenwick News Ltd (Registered number: 08704099)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 20,000
AMORTISATION
At 1 October 2022 18,000
Amortisation for year 2,000
At 30 September 2023 20,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 2,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 213,370 302,828 4,198 2,522 522,918
Additions - 29,118 - - 29,118
At 30 September 2023 213,370 331,946 4,198 2,522 552,036
DEPRECIATION
At 1 October 2022 - 148,345 3,866 2,522 154,733
Charge for year - 36,720 83 - 36,803
At 30 September 2023 - 185,065 3,949 2,522 191,536
NET BOOK VALUE
At 30 September 2023 213,370 146,881 249 - 360,500
At 30 September 2022 213,370 154,483 332 - 368,185

6. STOCKS
2023 2022
£    £   
Stocks 102,500 65,000

Kenwick News Ltd (Registered number: 08704099)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 20,001 -
Directors' current accounts - 8,810
VAT - 1,636
20,001 10,446

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 89,230 80,380
Tax 26,387 12,964
Social security and other taxes 3,558 (326 )
VAT 8,942 -
Other creditors 933 -
Directors' current accounts 2,465 -
Accrued expenses 2,220 3,000
133,735 96,018

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 111,673 131,223

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 17,445 15,682

Amounts falling due between two and five years:
Bank loans - 2-5 years 94,228 115,541

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 36,321 28,987

Kenwick News Ltd (Registered number: 08704099)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2022 28,987
Accelerated capital allowances 7,334
Balance at 30 September 2023 36,321

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 Ordinary A £1 99 99
1 Ordinary B £1 1 1
100 100

13. RESERVES
Retained
earnings
£   

At 1 October 2022 348,158
Profit for the year 123,107
Dividends (30,000 )
At 30 September 2023 441,265

14. RELATED PARTY DISCLOSURES

The Company pays rent to Mr R Singh for the premises Kenwick News, 23 Kenwick Road, Louth, LN11 8EH. The charge is £13,978 for the period (2022: £14,483). No monies were outstanding at 30 September 2023..

15. ULTIMATE CONTROLLING PARTY

The controlling party is R Singh.