2023-02-01 04652966 2023-12-31 04652966 2023-02-01 2023-12-31 04652966 2023-01-31 04652966 2022-02-01 2023-01-31 04652966 uk-core:WithinOneYear 2023-01-31 04652966 uk-core:WithinOneYear 2023-12-31 04652966 uk-core:AfterOneYear 2023-01-31 04652966 uk-core:AfterOneYear 2023-12-31 04652966 uk-core:ShareCapital 2023-12-31 04652966 uk-core:ShareCapital 2023-01-31 04652966 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 04652966 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 04652966 uk-bus:Director1 2023-02-01 2023-12-31 04652966 uk-core:NetGoodwill 2023-02-01 2023-12-31 04652966 uk-core:CommercialMotorVehicles 2023-02-01 2023-12-31 04652966 uk-core:FurnitureFittings 2023-02-01 2023-12-31 04652966 uk-core:Goodwill 2023-01-31 04652966 uk-core:Goodwill 2023-12-31 04652966 uk-core:Goodwill 2023-02-01 2023-12-31 04652966 uk-core:FurnitureFittings 2023-01-31 04652966 uk-core:CommercialMotorVehicles 2023-01-31 04652966 uk-core:CommercialMotorVehicles 2023-12-31 04652966 uk-core:FurnitureFittings 2023-12-31 04652966 uk-core:WithinOneYear 2023-12-31 04652966 uk-core:WithinOneYear 2023-01-31 04652966 uk-core:AfterOneYear uk-core:Secured 2023-12-31 04652966 uk-core:AfterOneYear uk-core:Secured 2023-01-31 iso4217:GBP xbrli:pure 04652966 uk-bus:AuditExemptWithAccountantsReport 2023-02-01 2023-12-31 04652966 uk-bus:FRS102 2023-02-01 2023-12-31 04652966 uk-bus:FilletedAccounts 2023-02-01 2023-12-31 04652966 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2023-12-31
News & Mags Direct Ltd
Registered Number:04652966
For the period ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
04652966
As at 31 December 2023
News & Mags Direct Ltd
Statement of Financial Position
£
£
2023
2023
Notes
Fixed assets
Intangible assets
-
3,750
2
Property, plant and equipment
384
1,470
3
384
5,220
Current assets
Inventories
1,000
1,000
4
1,000
1,000
Trade and other payables: amounts falling due within one
year
(28,878)
(19,096)
5
(27,878)
(18,096)
Net current liabilities
Total assets less current liabilities
(17,712)
(22,658)
Trade and other payables: amounts falling due after more
than one year
(31,675)
(30,208)
6
(47,920)
Net liabilities
(54,333)
Capital and reserves
Called up share capital
2
2
Retained earnings
(47,922)
(54,335)
(47,920)
(54,333)
Shareholders' funds
For the period ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Gobinder Sanga Director
These financial statements were approved and authorised for issue by the Board on 01 March 2024 and were signed by:
The notes form part of these financial statements
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3
For the period ended 31 December 2023
News & Mags Direct Ltd
Notes to the Financial Statements
Statutory Information
News & Mags Direct Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04652966.
Registered address:
4 Applegate
Brentry
Bristol
BS10 6QJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 0 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Motor vehicles
20% Straight line
Fixtures and fittings
Inventories
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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4
For the period ended 31 December 2023
News & Mags Direct Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 February 2023
75,000
At 31 December 2023
75,000
Amortisation
At 01 February 2023
71,250
3,750
Charge for period
At 31 December 2023
75,000
Net book value
At 31 December 2023
-
At 31 January 2023
3,750
3. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
£
£
£
Cost or
valuation
At 01 February 2023
26,531
7,932
18,599
480
480
-
Additions
At 31 December 2023
18,599
8,412
27,011
Provision for depreciation and impairment
At 01 February 2023
25,061
7,932
17,129
Charge for period
1,566
96
1,470
At 31 December 2023
26,627
8,028
18,599
At 31 December 2023
Net book value
-
384
384
At 31 January 2023
1,470
-
1,470
4. Inventories
2023
2023
£
£
Stocks
1,000
1,000
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5
For the period ended 31 December 2023
News & Mags Direct Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2023
£
£
Bank loans and overdraft
10,406
13,564
Taxation and social security
3,227
1,629
Other creditors
5,463
13,685
19,096
28,878
6. Trade and other payables: amounts falling due after more than one year
2023
2023
£
£
Bank loans and overdraft
30,208
31,675
7. Average number of persons employed
During the year the average number of employees was 2 (2023 : 2)
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