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REGISTERED NUMBER: 06605241 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

BANBURY NEWS LIMITED

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BANBURY NEWS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: R Schlachter





REGISTERED OFFICE: The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN





REGISTERED NUMBER: 06605241 (England and Wales)





ACCOUNTANTS: Haines Watts
Advantage
87 Castle Street
Reading
Berkshire
RG1 7SN

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,142 2,142
Tangible assets 5 23,513 25,053
24,655 27,195

CURRENT ASSETS
Debtors 6 142,623 136,155
Cash at bank and in hand 7 1,187,320 1,162,286
1,329,943 1,298,441
CREDITORS
Amounts falling due within one year 8 68,229 79,518
NET CURRENT ASSETS 1,261,714 1,218,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,286,369

1,246,118

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,286,269 1,246,018
SHAREHOLDERS' FUNDS 1,286,369 1,246,118

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

BALANCE SHEET - continued
30 JUNE 2024


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 4 October 2024 and were signed by:





R Schlachter - Director


BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Banbury 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 Standards 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provision of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise judgment in applying the
Company's accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Goodwill
Goodwill represents the difference between the amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquire at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

Amortisation is provided on the following bases:

Goodwill10% straight line

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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:

Motor vehicles25% straight line basis
Office equipment25% straight line basis

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 the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 the Statement of comprehensive income 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 July 2023
and 30 June 2024 251,500
AMORTISATION
At 1 July 2023 249,358
Amortisation for year 1,000
At 30 June 2024 250,358
NET BOOK VALUE
At 30 June 2024 1,142
At 30 June 2023 2,142

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 July 2023 43,896 8,076 51,972
Additions 17,350 - 17,350
Disposals (25,947 ) - (25,947 )
At 30 June 2024 35,299 8,076 43,375
DEPRECIATION
At 1 July 2023 18,843 8,076 26,919
Charge for year 11,154 - 11,154
Eliminated on disposal (18,211 ) - (18,211 )
At 30 June 2024 11,786 8,076 19,862
NET BOOK VALUE
At 30 June 2024 23,513 - 23,513
At 30 June 2023 25,053 - 25,053

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 99,548 104,256
VAT repayment 11,271 10,393
Prepayments and accrued income 31,804 21,506
142,623 136,155

7. CASH AT BANK AND IN HAND
2024 2023
£ £
Bank account 1,179,631 1,156,268
Cash in hand 7,689 6,018
1,187,320 1,162,286

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 29,261 29,118
Tax 20,248 20,067
Social security and other taxes 1,432 3,721
Other creditors 14,688 24,012
Accruals and deferred income 2,600 2,600
68,229 79,518

BANBURY NEWS LIMITED (REGISTERED NUMBER: 06605241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 100 Ordinary shares of £1 each £1 100 100

10. ULTIMATE CONTROLLING PARTY

The controlling party is R Schlachter.

The ultimate controlling party is R Schlachter.