REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
FOR |
NEWS & FOOD DISTRIBUTORS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
FOR |
NEWS & FOOD DISTRIBUTORS LIMITED |
NEWS & FOOD DISTRIBUTORS LIMITED (REGISTERED NUMBER: 03776930) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NEWS & FOOD DISTRIBUTORS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
869 High Road |
London |
N12 8QA |
NEWS & FOOD DISTRIBUTORS LIMITED (REGISTERED NUMBER: 03776930) |
BALANCE SHEET |
31 OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
The financial statements were approved by the director and authorised for issue on |
NEWS & FOOD DISTRIBUTORS LIMITED (REGISTERED NUMBER: 03776930) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
1. | STATUTORY INFORMATION |
News & Food Distributors Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements have been prepared on a going concern basis. At 29 June 2023, the company had net liabilities of £37,926 (2022:£39,151) and is dependent upon the continued support of the director. The director has stated his intention to support the business for the foreseeable future. Going concern is therefore considered appropriate. |
The financial statements are presented in Sterling, which is also the functional currency of the company. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. |
Plant and machinery | - 25% on reducing balance |
Fixtures and fittings | - 25% on reducing balance |
Computer equipment | - 25% on reducing balance |
TAXATION |
Taxation for the period 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 period 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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
INVOICE DISCOUNTING FACILITY |
Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The company can use these facilities to draw a percentage of the value of certain sales invoices. The management and collection of trade receivables remains with the company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
NEWS & FOOD DISTRIBUTORS LIMITED (REGISTERED NUMBER: 03776930) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 30 June 2023 |
and 31 October 2024 |
DEPRECIATION |
At 30 June 2023 |
Charge for period |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 29 June 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 October 2024 and 29 June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
The balance includes interest charged at the official HM Revenue & Customs rates. |
NEWS & FOOD DISTRIBUTORS LIMITED (REGISTERED NUMBER: 03776930) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 30 JUNE 2023 TO 31 OCTOBER 2024 |
9. | ULTIMATE CONTROLLING PARTY |
Ultimate control of the company is exercised by Mr B Pabari by virtue of his shareholding. |