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REGISTERED NUMBER: 08746706 (England and Wales)


Financial Statements for the Year Ended 31 October 2024

for

NGP News Limited

NGP News Limited (Registered number: 08746706)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NGP News Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr Gunjan Kumar Patel
Mrs Hiral Gunjan Patel





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 08746706 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

NGP News Limited (Registered number: 08746706)

Statement of Financial Position
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 3,040 3,394
3,040 3,394

CURRENT ASSETS
Inventories 23,321 22,105
Debtors 6 1,417 1,847
Cash at bank and in hand 3,945 8,166
28,683 32,118
CREDITORS
Amounts falling due within one year 7 41,270 39,413
NET CURRENT LIABILITIES (12,587 ) (7,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,547

)

(3,901

)

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (9,549 ) (3,903 )
SHAREHOLDERS' FUNDS (9,547 ) (3,901 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

NGP News Limited (Registered number: 08746706)

Statement of Financial Position - continued
31 October 2024


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

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 28 April 2025 and were signed on its behalf by:





Mr Gunjan Kumar Patel - Director


NGP News Limited (Registered number: 08746706)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

NGP 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 represents net sales of invoiced goods and services excluding Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

NGP News Limited (Registered number: 08746706)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 42,250
AMORTISATION
At 1 November 2023
and 31 October 2024 42,250
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2023 12,259
Additions 659
At 31 October 2024 12,918
DEPRECIATION
At 1 November 2023 8,865
Charge for year 1,013
At 31 October 2024 9,878
NET BOOK VALUE
At 31 October 2024 3,040
At 31 October 2023 3,394

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 1,417 1,847

NGP News Limited (Registered number: 08746706)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 878 855
Taxation and social security 256 487
Other creditors 40,136 38,071
41,270 39,413

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
2 Ordinary Share 1 2 2

9. RELATED PARTY DISCLOSURES

During the year, the company has paid rent of £6,000 (2023: £6,000) in respect of use of business property owned by the directors.