Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-232023-09-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08641027 2023-09-01 2024-08-31 08641027 2022-09-01 2023-08-31 08641027 2024-08-31 08641027 2023-08-31 08641027 c:Director1 2023-09-01 2024-08-31 08641027 d:MotorVehicles 2023-09-01 2024-08-31 08641027 d:MotorVehicles 2024-08-31 08641027 d:MotorVehicles 2023-08-31 08641027 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08641027 d:OfficeEquipment 2023-09-01 2024-08-31 08641027 d:OfficeEquipment 2024-08-31 08641027 d:OfficeEquipment 2023-08-31 08641027 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08641027 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 08641027 d:PatentsTrademarksLicencesConcessionsSimilar 2024-08-31 08641027 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 08641027 d:FreeholdInvestmentProperty 2024-08-31 08641027 d:FreeholdInvestmentProperty 2023-08-31 08641027 d:CurrentFinancialInstruments 2024-08-31 08641027 d:CurrentFinancialInstruments 2023-08-31 08641027 d:Non-currentFinancialInstruments 2024-08-31 08641027 d:Non-currentFinancialInstruments 2023-08-31 08641027 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 08641027 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08641027 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 08641027 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08641027 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 08641027 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 08641027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 08641027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 08641027 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 08641027 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 08641027 d:ShareCapital 2024-08-31 08641027 d:ShareCapital 2023-08-31 08641027 d:InvestmentPropertiesRevaluationReserve 2023-09-01 2024-08-31 08641027 d:InvestmentPropertiesRevaluationReserve 2024-08-31 08641027 d:InvestmentPropertiesRevaluationReserve 2023-08-31 08641027 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 08641027 d:RetainedEarningsAccumulatedLosses 2024-08-31 08641027 d:RetainedEarningsAccumulatedLosses 2023-08-31 08641027 c:FRS102 2023-09-01 2024-08-31 08641027 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08641027 c:FullAccounts 2023-09-01 2024-08-31 08641027 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08641027 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 08641027 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 08641027 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 08641027 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 08641027 6 2023-09-01 2024-08-31 08641027 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-09-01 2024-08-31 08641027 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 08641027









INEWS MEDIA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
INEWS MEDIA LIMITED
REGISTERED NUMBER: 08641027

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
156
195

Tangible assets
 6 
25,261
32,554

Investments
 7 
7,079
4,589

Investment property
 8 
933,130
933,130

  
965,626
970,468

Current assets
  

Debtors: amounts falling due within one year
 9 
8,587
6,428

Cash at bank and in hand
  
2,528
5,557

  
11,115
11,985

Creditors: amounts falling due within one year
 10 
(655,529)
(616,534)

Net current liabilities
  
 
 
(644,414)
 
 
(604,549)

Total assets less current liabilities
  
321,212
365,919

Creditors: amounts falling due after more than one year
 11 
(476,498)
(490,320)

  

Net liabilities
  
(155,286)
(124,401)


Capital and reserves
  

Called up share capital 
  
60,000
60,000

Investment property reserve
 15 
88,487
88,487

Profit and loss account
 15 
(303,773)
(272,888)

  
(155,286)
(124,401)


Page 1

 
INEWS MEDIA LIMITED
REGISTERED NUMBER: 08641027
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers 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 director acknowledges her 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 income and retained earnings 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 23 May 2025.




Ms L Yao
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

INews Media Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England. The address of the Company's registered office and principal place of business are Regina House, 124 Finchley Road, London, NW3 5JS and Highfield House, Syston Hill Farm, Siston Common, Bristol, BS15 4PF respectively.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

  
2.4

Foreign currency translation

Foreign currency translations are translated into the functional currency using the exchange rates prevailing at the dates of the respective transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at financial period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Page 3

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the director has reviewed the Company’s principal and emerging risks, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on her assessment, the director is of the conclusion that the Company will have, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
The director has also indicated her willingness to continue to provide the Company with the necessary financial support such that the Company may meet its debts as they should fall due and will not seek repayment of amounts owed to her by the Company until such time as the Company can repay them without detriment to its operations.
While there will always remain an inherent uncertainty, the director has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore considers it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

 
2.6

Operating leases

Operating leases, net of benefits receivable as an incentive, are charged to profit or loss on a straight line basis over the lease term.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Intangible assets

Intangible assets comprise of trademarks held by the Company.
On initial recognition, such assets are recognised at cost and subsequently measured at cost less accumulated amortisation over its useful life and accumulated impairment losses with any related expenditure previously recognised in profit or loss not recognised as an asset in a subsequent period.
The useful life of such rights is equal to the term assigned upon acquisition during which the underlying economic benefits are made available to the Company.

 
2.9

Tangible fixed assets

Tangible fixed assets are recognised under the cost model and stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended upon acquisition.

Page 4

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Motor vehicles
-
20% reducing balance
Office equipment and furniture
-
20% straight line

Depreciation of a tangible fixed asset commences once the asset is available for use.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. After initial recognition, investment properties are carried at fair value derived from current market rent and investment property yields for comparable real estate; adjusted, where considered necessary, for differences in either the nature, location and/or condition of the specific real estate asset. No depreciation is provided against investment properties with changes in fair value recognised through profit or loss and subsequently re-allocated to a non-distributable investment property reserve.
In accordance with Financial Reporting Standard 102, the fair value assessment is conducted annually by the director.

 
2.11

Fixed asset investments

Other investments comprise of holdings in gold bullion measured at cost on initial recognition and re-measured to market value at each balance sheet date. Gains and losses on re-measurement are recognised in profit or loss for the period.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised upon the Company becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined below:
Debtors and creditors
Debtors and creditors deemed to be short term in nature are initially measured, and subsequently held, at transaction price (i.e fair value) less provision for impairment of assets.
Creditors deemed not to be short term comprise of bank and other loans issued at market rates and finance leases are initially measured at fair value and subsequently measured at amortised cost using the effective interest method with the interest expense recognised on an effective yield basis.
 
Page 5

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Cash and cash equivalents
Cash balances are reported by the Company as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Equity
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgments in applying the entity’s accounting policies
The valuation of investment properties involves the application, and therefore significant judgment, of unobservable inputs.
Critical accounting estimates and assumptions
The estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below:
Investment properties
The fair value of investment properties is determined annually by the director on an open market value basis by reference to specific advice from third party experts and available market evidence. In determining the fair value, a number of estimates and assumptions are required based on the property market as a whole and rental yields, nature, location and condition of the specific investment property.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Intangible assets




Trademarks

£



Cost


At 1 September 2023
390



At 31 August 2024

390



Amortisation


At 1 September 2023
195


Charge for the year on owned assets
39



At 31 August 2024

234



Net book value



At 31 August 2024
156



At 31 August 2023
195



Page 7

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Tangible fixed assets





Motor vehicles
Office equipment and furniture
Total

£
£
£



Cost


At 1 September 2023
38,348
9,745
48,093



At 31 August 2024

38,348
9,745
48,093



Depreciation


At 1 September 2023
8,410
7,129
15,539


Charge for the year on owned assets
5,988
1,305
7,293



At 31 August 2024

14,398
8,434
22,832



Net book value



At 31 August 2024
23,950
1,311
25,261



At 31 August 2023
29,938
2,616
32,554

The net book value of assets held under finance leases or hire purchase contracts, included above amounts to £23,950 (2023: £29,938). Said assets are held as security in respect of the respective obligations under finance leases and hire purchase contracts said assets were acquired under and yet to be discharged as at the balance sheet date.


7.


Fixed asset investments





Other fixed asset investments

£



Valuation


At 1 September 2023
4,589


Additions
1,100


Revaluations
1,390



At 31 August 2024
7,079




Page 8

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Investment property



£



Valuation


At 1 September 2023
933,130



At 31 August 2024
933,130

The 2024 valuations were made by the director, on an open market value for existing use basis.





9.


Debtors

2024
2023
£
£

Falling due within one year

Trade debtors
2,725
-

Prepayments and accrued income
5,862
6,428

8,587
6,428


Deferred tax assets of approximately £63,000 in respect of trading losses incurred in the United Kingdom have not been recognised by the Company as part of these financial statements on the grounds that there is currently insufficient certainty as to whether the Company will generate adequate trading profits in the short term against which said deferred tax assets may be offset.
Trade and other debtors falling due within one year are non-interest bearing and, in the opinion of the director, of a fair value not materially different to their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2023: £nil).

Page 9

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,104
7,904

Trade creditors
10,959
9,407

Other taxation and social security
2,984
1,425

Obligations under finance lease and hire purchase contracts
5,719
5,303

Other creditors
613,134
583,481

Accruals and deferred income
14,629
9,014

655,529
616,534



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,212
14,315

Other loans
445,000
445,000

Net obligations under finance leases and hire purchase contracts
25,286
31,005

476,498
490,320


Loan repayable more than five years after the balance sheet date.comprise of the following:
£175,000 (2023: £175,000) which incurs interest at 4% per annum and is repayable as a lump sum on 1 June 2031; and
£270,000 (2023: £270,000) which incurs interest at a variable rate, as determined by the lender, per annum and is repayable as a lump sum on 21 March 2032.

Page 10

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,104
7,904

Amounts falling due 1-2 years

Bank loans
6,212
8,103

Amounts falling due 2-5 years

Bank loans
-
6,212

Amounts falling due after more than 5 years

Other loans
445,000
445,000

459,316
467,219


Other loans totaling £270,000 (2023: £270,000) are secured by a fixed and floating charge with negative pledge over all present and future assets of the Company including a first legal charge over certain freehold investment property held by the Company


13.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


14.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Less than 1 year
5,719
5,303

Between 2 to 5 years
25,286
31,005

31,005
36,308

Page 11

 
INEWS MEDIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

15.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all non-distributable fair value gains and (losses) through profit or loss on re-valuation of investment properties held by the Company in accordance with FRS 102.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and (losses) net of amounts distributed to the Company's equity shareholders.


16.


Related party transactions

At the balance sheet date, the Company owed £563,528 (2023: £558,894) to its director. Amounts owed are unsecured, non-interest bearing and repayable on demand with no fixed date for repayment.
There were no other related party transactions and/or period end balances to report in accordance with the UK Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.

 
Page 12