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REGISTERED NUMBER: 01355149 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ASHARQ AL - AWSAT LIMITED

ASHARQ AL - AWSAT LIMITED (REGISTERED NUMBER: 01355149)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASHARQ AL - AWSAT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S H Aldowais





REGISTERED OFFICE: 10th Floor, Building 7 Chiswick Park
566 Chiswick High Road
London
W4 5YG





REGISTERED NUMBER: 01355149 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

ASHARQ AL - AWSAT LIMITED (REGISTERED NUMBER: 01355149)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 500,000 500,000

CURRENT ASSETS
Debtors 5 101 101
NET CURRENT ASSETS 101 101
TOTAL ASSETS LESS CURRENT
LIABILITIES

500,101

500,101

CAPITAL AND RESERVES
Called up share capital 6 900,101 900,101
Retained earnings (400,000 ) (400,000 )
SHAREHOLDERS' FUNDS 500,101 500,101

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 and authorised for issue by the director and authorised for issue on 20 August 2024 and were signed by:





S H Aldowais - Director


ASHARQ AL - AWSAT LIMITED (REGISTERED NUMBER: 01355149)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Asharq Al - Awsat Limited 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.

The financial statements are prepared in pound Sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest '£'.

2. ACCOUNTING POLICIES

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.

The financial statements have been prepared on a going concern basis under the historical cost convention.

The Company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the Company as an individual entity and not about its group.

The Company's immediate parent undertaking is Saudi Research and Publishing Company LLC., a company registered in the Kingdom of Saudi Arabia and the principal place of business is PO Box 478, Mecca Road, Riyadh 11411, Saudi Arabia. This is the smallest group of which Asharq Al-Awsat Limited is a member for which group financial statements are drawn up.

In the directors opinion the Company's ultimate parent undertaking and controlling party is Saudi Research and Media Group, which is incorporated and registered in the Kingdom of Saudi Arabia. This is the largest group of which Asharq Al-Awsat Limited is a member for which group financial statements are drawn up. Copies of its group financial statements, which include the Company, are available from PO Box 53108, Riyadh 11583, Saudi Arabia.

The principal accounting policies adopted are set out below.

The company was dormant throughout the current year and previous year.

Going concern
The Company has not traded during the period and has positive net current assets and shareholder's funds. The director has at the time of approving the financial statements, a reasonable expectation that the Company to continue in operational existence for the foreseeable future. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

Management apply judgement in evaluating investments for overstatement. The judgement is based on the projected net present value of future cash flows. At each balance sheet date, investments are assessed for impairment and written down where appropriate.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

ASHARQ AL - AWSAT LIMITED (REGISTERED NUMBER: 01355149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 900,000
PROVISIONS
At 1 January 2023
and 31 December 2023 400,000
NET BOOK VALUE
At 31 December 2023 500,000
At 31 December 2022 500,000

Details of the Company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking and country
of incorporation or residency
Nature of Business Class of shareholding % held
H.H. Saudi Research & Marketing
Limited
Publishing and selling
newspaper
Ordinary 100
Euromena Research Center Limited Printing of newspaper
and magazines
Ordinary 100
Sayidaty Limited Dormant Ordinary* 100
Al-Majalla Magazine Limited Dormant Ordinary* 100

* indirectly held subsidiary undertakings

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 101 101

ASHARQ AL - AWSAT LIMITED (REGISTERED NUMBER: 01355149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
900,100 Class A £1 900,100 900,100
1 Class B £1 1 1
900,101 900,101

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

8. RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. CONTROLLING PARTY

The Company's immediate parent undertaking is Saudi Research and Publishing Company LLC., a company registered in the Kingdom of Saudi Arabia and the principal place of business is PO Box 478, Mecca Road, Riyadh 11411, Saudi Arabia. This is the smallest group of which Asharq Al-Aqsat Limited is a member for which group financial statements are drawn up.

In the director's opinion the Company's ultimate parent undertaking and controlling party is Saudi Research and Media Group, which is incorporated and registered in the Kingdom of Saudi Arabia. This is the largest group of which Asharq Al-Awsat Limited is a member for which group financial statements are drawn up. Copies of its group financial statements, which include the Company, are available from PO Box 53108, Riyadh 11583, Saudi Arabia.