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REGISTERED NUMBER: 04899940 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MAAN NEWS LIMITED

MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAAN NEWS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: B S Maan





SECRETARY: Mrs A Kaur





REGISTERED OFFICE: Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT





REGISTERED NUMBER: 04899940 (England and Wales)





ACCOUNTANTS: Saxon & Co Accountants Ltd
Chartered Certified Accountants
Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT

MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 380 448
6,380 9,448

CURRENT ASSETS
Stocks 11,200 10,780
Debtors 6 396 15,012
Cash at bank and in hand 4,894 3,000
16,490 28,792
CREDITORS
Amounts falling due within one year 7 21,582 33,688
NET CURRENT LIABILITIES (5,092 ) (4,896 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,288

4,552

CREDITORS
Amounts falling due after more than one year 8 (15,660 ) (25,780 )

PROVISIONS FOR LIABILITIES (95 ) (85 )
NET LIABILITIES (14,467 ) (21,313 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (14,469 ) (21,315 )
SHAREHOLDERS' FUNDS (14,467 ) (21,313 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)

BALANCE SHEET - continued
30 NOVEMBER 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 22 August 2024 and were signed by:





B S Maan - Director


MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Maan News 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.

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 represents net invoiced sales of goods, excluding value added tax, and commissions received.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years. The director considers this estimate still to be reliable, accordingly he does not consider that any revisions under the provisions of FRS 102 are necessary.

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 - 15% on reducing balance
Motor vehicles - 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.

MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 60,000
AMORTISATION
At 1 December 2022 51,000
Charge for year 3,000
At 30 November 2023 54,000
NET BOOK VALUE
At 30 November 2023 6,000
At 30 November 2022 9,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 3,265 1,236 4,501
DEPRECIATION
At 1 December 2022 2,823 1,230 4,053
Charge for year 66 2 68
At 30 November 2023 2,889 1,232 4,121
NET BOOK VALUE
At 30 November 2023 376 4 380
At 30 November 2022 442 6 448

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 396 -
Directors' current accounts - 14,823
VAT - 189
396 15,012

MAAN NEWS LIMITED (REGISTERED NUMBER: 04899940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,119 28,828
Taxation 3,576 460
VAT 1,252 -
Directors' current accounts 3,900 -
Accrued expenses 2,735 4,400
21,582 33,688

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,375 10,119
Bank loans - 2-5 years 5,285 15,661
15,660 25,780

9. LEASING AGREEMENTS

The premises from which the company operates its business are leased from the director and his wife. These premises are currently occupied rent free.

10. RELATED PARTY DISCLOSURES

The director does not consider that the company has entered into any material transactions with related parties, including owner, director and related entities, that have not been concluded under normal market conditions, other than the lease of the premises which is referred to in note 8.