Registered number
09866676
RAJ NEWS LIMITED
Filleted Unaudited Accounts
30 November 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
RAJ NEWS LIMITED
Registered number: 09866676
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 2,500
Tangible assets 4 12,648 2,638
12,648 5,138
Current assets
Debtors 5 23,222 -
Cash at bank and in hand 50,783 57,332
74,005 57,332
Creditors: amounts falling due within one year 6 (13,256) (15,553)
Net current assets 60,749 41,779
Net assets 73,397 46,917
Capital and reserves
Called up share capital 100 100
Profit and loss account 73,297 46,817
Shareholders' funds 73,397 46,917
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs N Raithatha
Director
Approved by the board on 28 August 2024
RAJ NEWS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts. Turnover includes revenue earned from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 25,000
At 30 November 2023 25,000
Amortisation
At 1 December 2022 22,500
Provided during the year 2,500
At 30 November 2023 25,000
Net book value
At 30 November 2023 -
At 30 November 2022 2,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 6,698 - 6,698
Additions - 12,551 12,551
At 30 November 2023 6,698 12,551 19,249
Depreciation
At 1 December 2022 4,060 - 4,060
Charge for the year 659 1,882 2,541
At 30 November 2023 4,719 1,882 6,601
Net book value
At 30 November 2023 1,979 10,669 12,648
At 30 November 2022 2,638 - 2,638
5 Debtors 2023 2022
£ £
Other debtors 23,222 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 8,475 8,828
Other taxes and social security costs 549 280
Other creditors 4,232 6,445
13,256 15,553
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs N Raithatha
Overdrawn - 22,762 - 22,762
- 22,762 - 22,762
At the year end the Director's loan account was overdrwan by £22,762 but the amount was fully repaid within 9 months of the year end. An interest of 3 % was charged on the loan during the year.
8 Controlling party
The Company was under the control of Mrs N Raithatha and Mr D Raithatha, both being the directors and shareholders in the company throughout the year.
9 Other information
RAJ NEWS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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