Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrue2023-01-01false1817trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 6657163 2023-01-01 2023-12-31 6657163 2022-01-01 2022-12-31 6657163 2023-12-31 6657163 2022-12-31 6657163 c:Director1 2023-01-01 2023-12-31 6657163 c:Director11 2023-01-01 2023-12-31 6657163 d:OfficeEquipment 2023-01-01 2023-12-31 6657163 d:OfficeEquipment 2023-12-31 6657163 d:OfficeEquipment 2022-12-31 6657163 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 6657163 d:CurrentFinancialInstruments 2023-12-31 6657163 d:CurrentFinancialInstruments 2022-12-31 6657163 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 6657163 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 6657163 d:RetainedEarningsAccumulatedLosses 2023-12-31 6657163 d:RetainedEarningsAccumulatedLosses 2022-12-31 6657163 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 6657163 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 6657163 c:FRS102 2023-01-01 2023-12-31 6657163 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 6657163 c:FullAccounts 2023-01-01 2023-12-31 6657163 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 6657163 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 6657163









NEWS MEDIA COALITION LIMITED
(A Company Limited by Guarantee)

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NEWS MEDIA COALITION LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 6657163

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,620
3,274

Current assets
  

Debtors: amounts falling due within one year
 5 
64,127
45,194

Cash at bank and in hand
 6 
132,659
111,680

  
196,786
156,874

Creditors: amounts falling due within one year
 7 
(88,514)
(59,397)

Net current assets
  
 
 
108,272
 
 
97,477

Total assets less current liabilities
  
110,892
100,751

Provisions for liabilities
  

Deferred tax
 8 
(497)
(622)

Net assets
  
110,395
100,129


Capital and reserves
  

Profit and loss account
  
110,395
100,129

  
110,395
100,129


Page 1

 
NEWS MEDIA COALITION LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 6657163

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr A Moger
Mr D Wills
Director
Director


Date: 25 September 2024
Date:25 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

1.


General information

News Media Coalition Limited is a private company limited by guarantee, incorporated in England and Wales. The address of the registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing
Page 4

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

2.Accounting policies (continued)


2.6
Financial instruments (continued)

transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 17).

Page 6

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
5,094



At 31 December 2023

5,094



Depreciation


At 1 January 2023
1,820


Charge for the year on owned assets
654



At 31 December 2023

2,474



Net book value



At 31 December 2023
2,620



At 31 December 2022
3,274


5.


Debtors

2023
2022
£
£


Trade debtors
60,480
43,200

Other debtors
2,518
865

Prepayments and accrued income
1,129
1,129

64,127
45,194



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
132,659
111,680


Page 7

 
NEWS MEDIA COALITION LIMITED

(A Company Limited by Guarantee)
 

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
2,256

Corporation tax
2,956
3,617

Other taxation and social security
16,998
21,061

Other creditors
4,171
6,394

Accruals and deferred income
64,389
26,069

88,514
59,397



8.


Deferred taxation




2023


£






At beginning of year
(622)


Charged to profit or loss
125



At end of year
(497)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(497)
(622)



9.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £2 towards the assets of the company in the event of liquidation.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company  in an independently administered fund. The pension cost charge
represents contributions payable by the Company  to the fund and amounted to £2,236 (2022 - £1,456).
Contributions totalling £nil (2022- £2,222 payable) were due to the fund at the balance sheet date.


Page 8