Company registration number 14414212 (England and Wales)
News Agenda Limited
Unaudited financial statements
For the period ended 31 March 2024
NEWS AGENDA LIMITED
News Agenda Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NEWS AGENDA LIMITED
News Agenda Limited
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Current assets
Debtors
4
4,093
Cash at bank and in hand
5,824
9,917
Creditors: amounts falling due within one year
5
(167,780)
Net current liabilities
(157,863)
Capital and reserves
Called up share capital
7
2
Profit and loss reserves
(157,865)
Total equity
(157,863)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 July 2024 and are signed on its behalf by:
R I Ruparel
Director
Company registration number 14414212 (England and Wales)
NEWS AGENDA LIMITED
News Agenda Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
News Agenda Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor, 148 Curtain Road, London, United Kingdom, EC2A 3AT.
1.1
Reporting period
The company is reporting for the period from incorporation on 11 October 2022 to 31 March 2024. These are first year accounts and no comparative amounts are present.
1.2
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.3
Going concern
The accounts have been prepared on the going concern basis. The company is reliant on support from a related party and the directors have confirmed that the funds will be made available to enable the company to meet its day to day commitments for the foreseeable future.trueThe financial statements do not include any adjustments that might result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.
1.4
Turnover
Turnover comprises revenue recognised by the Company on an accruals basis in respect of goods and services supplied in the year. Revenue is measured as the fair value of the consideration received or receivable, excluding trade discounts, rebates, value added taxes and other sales taxes. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured, The following criteria must also be met before revenue is recognised:
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
NEWS AGENDA LIMITED
News Agenda Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the year are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
Number
Total
1
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
3,082
Other debtors
1,011
4,093
5
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
148,063
Taxation and social security
16,224
Other creditors
3,493
167,780
NEWS AGENDA LIMITED
News Agenda Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
6
Realted party relationships
The company has taken advantage of the exemption available in accordance with FRS 102 Section 1A paragraph 1AC.35 not to disclose transactions entered into between two or more members of a group, as the company and the other subsidiaries are wholly owned subsidiary undertakings of the group to which they are party to the transactions.
C21 Media Limited is a company controlled by the director D Jenkinson. As at 31 March 2024 the balance owed to C21 Media Limited by News Agenda Limited was £1,489 (2023: £Nil).
Media Enterprises International Limited is a company controlled by the director D Jenkinson. As at 31 March 2024 the balance owed to Media Enterprises International Limited was £148,063 (2023:£Nil).
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of £1 each
2
2
During the year, 2 ordinary shares were issued at £1 per share.