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Registered number: 13851521














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

 
THE NEWS MOVEMENT HOLDINGS LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
THE NEWS MOVEMENT HOLDINGS LTD
REGISTERED NUMBER:13851521

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
101
101

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(3,278)
(2,346)

Net current liabilities
  
 
 
(3,178)
 
 
(2,246)

  

  

Net liabilities
  
(3,077)
(2,145)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(3,177)
(2,245)

  
(3,077)
(2,145)


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 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 4 form part of these financial statements.

Page 1

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

1.


General information

The News Movement Ltd is a Company limited by shares incorporated in England and Wales. Its registered office address is 2nd Floor Connaught House, 1-3 Mount Street, London, United Kingdom, W1K 3NB. 
The principal activity of the Company during the year was that of a holding compamy. 

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 Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.

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 Director has 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

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

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

2.Accounting policies (continued)

  
2.5

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
101



At 31 December 2023
101





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
100
100


Page 3

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
3,278
1,631

Accruals and deferred income
-
715

3,278
2,346



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares shares of £1 each
100
100



8.


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 4