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Registered number: 12408977
Easton News Ltd
Unaudited Financial Statements
For the Period 1 February 2023 to 31 March 2024
AR Accounting
Chartered Accountant & Tax Adviser
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12408977
31 March 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 2,138 3,135
2,139 3,136
CURRENT ASSETS
Stocks 6 5,270 4,280
Debtors 7 3,909 1,702
Cash at bank and in hand 5,782 1,382
14,961 7,364
Creditors: Amounts Falling Due Within One Year 8 (34,290 ) (26,097 )
NET CURRENT ASSETS (LIABILITIES) (19,329 ) (18,733 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,190 ) (15,597 )
NET LIABILITIES (17,190 ) (15,597 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (17,200 ) (15,607 )
SHAREHOLDERS' FUNDS (17,190) (15,597)
Page 1
Page 2
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Elizabeth Reed
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Easton News Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12408977 . The registered office is 3 Straits, Portland, DT5 1HG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on a straight line basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 1
As at 31 March 2024 1
Net Book Value
As at 31 March 2024 1
As at 1 February 2023 1
Page 3
Page 4
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 February 2023 5,701
As at 31 March 2024 5,701
Depreciation
As at 1 February 2023 2,566
Provided during the period 997
As at 31 March 2024 3,563
Net Book Value
As at 31 March 2024 2,138
As at 1 February 2023 3,135
6. Stocks
31 March 2024 31 January 2023
£ £
Finished goods 5,270 4,280
7. Debtors
31 March 2024 31 January 2023
£ £
Due within one year
Prepayments and accrued income 2,409 202
Other debtors 1,500 1,500
3,909 1,702
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 January 2023
£ £
Trade creditors 5,279 6,690
Other loans 2,842 1,736
Other taxes and social security 3,344 1,278
VAT 4,227 1,266
Net wages 4,344 -
Pension creditor 126 126
Accruals and deferred income 492 285
Director's loan account 13,636 14,716
34,290 26,097
Page 4
Page 5
9. Share Capital
31 March 2024 31 January 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5