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REGISTERED NUMBER: 08433728 (England and Wales)













Financial Statements

for the Year Ended 31 August 2024

for

Farebrother Street News Limited

Farebrother Street News Limited (Registered number: 08433728)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Farebrother Street News Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: S R Duthie
W P L Edwards





REGISTERED OFFICE: 79-85 Farebrother Street
Grimsby
DN32 0JY





REGISTERED NUMBER: 08433728 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Farebrother Street News Limited (Registered number: 08433728)

Abridged Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,328 14,028

CURRENT ASSETS
Stocks 78,754 56,598
Debtors 29,970 18,962
Cash at bank and in hand 138,913 103,729
247,637 179,289
CREDITORS
Amounts falling due within one year 124,646 97,170
NET CURRENT ASSETS 122,991 82,119
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,319

96,147

PROVISIONS FOR LIABILITIES 3,082 3,507
NET ASSETS 132,237 92,640

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 132,137 92,540
132,237 92,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Farebrother Street News Limited (Registered number: 08433728)

Abridged Balance Sheet - continued
31 August 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:




W P L Edwards - Director



S R Duthie - Director


Farebrother Street News Limited (Registered number: 08433728)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Farebrother Street News Limited (Registered number: 08433728)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 118,590
Additions 1,125
At 31 August 2024 119,715
DEPRECIATION
At 1 September 2023 104,562
Charge for year 2,825
At 31 August 2024 107,387
NET BOOK VALUE
At 31 August 2024 12,328
At 31 August 2023 14,028

5. RELATED PARTY DISCLOSURES

Mr WPL Edwards and Mr SR Duthie, directors of Farebrother Street News Limited, are also directors of Brereton News (Grimsby) Limited and Penny's News Limited. Included in debtors are balances owed by Brereton News (Grimsby) Limited of £20,538 (2023 £16,026) and Penny's News Limited of £6,508 (2023 £1,072). The loans are interest free and payable on demand.