Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity2516falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12996183 2023-01-01 2023-12-31 12996183 2022-01-01 2022-12-31 12996183 2023-12-31 12996183 2022-12-31 12996183 c:Director2 2023-01-01 2023-12-31 12996183 d:ComputerEquipment 2023-01-01 2023-12-31 12996183 d:ComputerEquipment 2023-12-31 12996183 d:ComputerEquipment 2022-12-31 12996183 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12996183 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12996183 d:OtherPropertyPlantEquipment 2023-12-31 12996183 d:OtherPropertyPlantEquipment 2022-12-31 12996183 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12996183 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12996183 d:CurrentFinancialInstruments 2023-12-31 12996183 d:CurrentFinancialInstruments 2022-12-31 12996183 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12996183 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12996183 d:ShareCapital 2023-12-31 12996183 d:ShareCapital 2022-12-31 12996183 d:RetainedEarningsAccumulatedLosses 2023-12-31 12996183 d:RetainedEarningsAccumulatedLosses 2022-12-31 12996183 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12996183 c:OrdinaryShareClass1 2023-12-31 12996183 c:OrdinaryShareClass1 2022-12-31 12996183 c:FRS102 2023-01-01 2023-12-31 12996183 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12996183 c:FullAccounts 2023-01-01 2023-12-31 12996183 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12996183 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12996183














THE NEWS MOVEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE NEWS MOVEMENT LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
THE NEWS MOVEMENT LIMITED
REGISTERED NUMBER:12996183

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,630
17,747

Current assets
  

Debtors: amounts falling due within one year
 5 
475,181
529,519

Bank and cash balances
  
313,885
133,226

  
789,066
662,745

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(4,516,530)
(3,008,544)

Net current liabilities
  
 
 
(3,727,464)
 
 
(2,345,799)

  

Net liabilities
  
(3,714,834)
(2,328,052)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(3,714,835)
(2,328,053)

  
(3,714,834)
(2,328,052)


The Director considers 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 Director acknowledges his 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 comprehensive income 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 on 24 October 2024.


R Beheshti
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
THE NEWS MOVEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The News Movement Limited is a Company limited by shares incorporated in England and Wales. Its registered office address is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company during the year was that of news agency activities and media representation services.

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

Going concern

The Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. The Directors have obtained assurance from the shareholders that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax. 
 
Revenue is recognised when services are provided.

Page 2

 
THE NEWS MOVEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.6

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

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

 
2.9

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.

Page 3

 
THE NEWS MOVEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Other fixed assets
-
33%

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 16).


4.


Tangible fixed assets





Computer equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
19,354
5,520
24,874


Additions
3,741
-
3,741



At 31 December 2023

23,095
5,520
28,615



Depreciation


At 1 January 2023
6,359
767
7,126


Charge for the year on owned assets
7,019
1,840
8,859



At 31 December 2023

13,378
2,607
15,985



Net book value



At 31 December 2023
9,717
2,913
12,630



At 31 December 2022
12,994
4,753
17,747

Page 4

 
THE NEWS MOVEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
366,947
220,012

Amounts owed by group undertakings
36,879
57,975

Other debtors
21,803
181,748

Prepayments and accrued income
49,552
69,784

475,181
529,519



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
149,175
36,104

Amounts owed to group undertakings
4,270,520
2,778,620

Other taxation and social security
89,211
163,581

Other creditors
7,624
7,095

Accruals and deferred income
-
23,144

4,516,530
3,008,544



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary shares share of £1
1
1



8.


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 £44,171 (2022- £18,770). Contributions totaling to £5,359 (2022 - £7,075) were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

The Company forms part of a wholly owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies. 

Page 5