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REGISTERED NUMBER: 04502791 (England and Wales)














Gunwharf News Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Gunwharf News Ltd (Registered number: 04502791)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gunwharf News Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: T J Bratty





SECRETARY: Mrs J Bratty





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 04502791 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Gunwharf News Ltd (Registered number: 04502791)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,185 11,101

CURRENT ASSETS
Stocks 5 47,082 38,731
Debtors 6 187,109 103,109
Cash at bank and in hand 26,782 136,577
260,973 278,417
CREDITORS
Amounts falling due within one year 7 106,309 133,730
NET CURRENT ASSETS 154,664 144,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,849

155,788

CREDITORS
Amounts falling due after more than one year 8 (38,149 ) (45,167 )

PROVISIONS FOR LIABILITIES 9 (1,745 ) (2,109 )
NET ASSETS 123,955 108,512

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 123,855 108,412
SHAREHOLDERS' FUNDS 123,955 108,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Gunwharf News Ltd (Registered number: 04502791)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 July 2024 and were signed by:





T J Bratty - Director


Gunwharf News Ltd (Registered number: 04502791)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Gunwharf 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.

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 - 15% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Gunwharf News Ltd (Registered number: 04502791)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 38,972 14,955 53,927
DEPRECIATION
At 1 November 2022 30,375 12,451 42,826
Charge for year 1,290 626 1,916
At 31 October 2023 31,665 13,077 44,742
NET BOOK VALUE
At 31 October 2023 7,307 1,878 9,185
At 31 October 2022 8,597 2,504 11,101

5. STOCKS
2023 2022
£    £   
Stocks 47,082 38,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Brunels Limited 7,000 10,000
TJ Assets Limited 166,837 79,837
Rent deposit 9,218 9,218
Supplier deposit 1,600 1,600
Deposit Havant CC 300 300
Deposit held by Menzies 750 750
Prepayments and accrued income 1,404 1,404
187,109 103,109

Gunwharf News Ltd (Registered number: 04502791)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 72,461 76,021
Taxation 13,821 11,824
Social security and other taxes (16,119 ) 2,017
VAT 8,728 10,045
Other creditors 13,201 13,201
Directors' current accounts 11,327 17,732
Accrued expenses 2,890 2,890
106,309 133,730

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 38,149 45,167

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,745 2,109

Deferred
tax
£   
Balance at 1 November 2022 2,109
Provided during year (364 )
Balance at 31 October 2023 1,745

10. CALLED UP SHARE CAPITAL

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

Gunwharf News Ltd (Registered number: 04502791)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. RELATED PARTY DISCLOSURES

Mr T Bratty is also a director and shareholder of TJ Assets Limited. As at 31st October 2023, the company was owed £72,005 (2022: £70,005) from TJ Assets Limited.

Mr T Bratty is also a director and shareholder of TJ Events Limited. As at 31st October 2023, the company was owed £94,832l (2022: £9,832) from TJ Events Limited.


Mr T Bratty is a partner of The Ice Cream Emporium. As at 31st October 2023, the company owed The Ice Cream Emporium £13,201 (2022: £13,201).

12. ULTIMATE CONTROLLING PARTY

The controlling party is T J Bratty.