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REGISTERED NUMBER: 03780538 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2023 TO 30TH SEPTEMBER 2024

FOR

COMPACT NEWS LTD.

COMPACT NEWS LTD. (REGISTERED NUMBER: 03780538)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COMPACT NEWS LTD.

COMPANY INFORMATION
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024







DIRECTOR: S P Collins



REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS



REGISTERED NUMBER: 03780538 (England and Wales)



ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS



BANKERS: HSBC
90 Baker Street
London
W1U 6AX

COMPACT NEWS LTD. (REGISTERED NUMBER: 03780538)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 780 -

CURRENT ASSETS
Debtors 5 305 5,620
Cash at bank 9,980 30,307
10,285 35,927
CREDITORS
Amounts falling due within one year 6 7,394 37,776
NET CURRENT ASSETS/(LIABILITIES) 2,891 (1,849 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,671

(1,849

)

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 3,171 (2,349 )
SHAREHOLDERS' FUNDS 3,671 (1,849 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th June 2025 and were signed by:



S P Collins - Director


COMPACT NEWS LTD. (REGISTERED NUMBER: 03780538)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Compact News Ltd. 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.
Computer equipment - 33% on cost

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.

Pension costs and other post-retirement benefits
Employer contributions to the directors' pension schemes are charged to the profit and loss account in the year paid.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

COMPACT NEWS LTD. (REGISTERED NUMBER: 03780538)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2023 TO 30TH SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2023 1,449
Additions 780
At 30th September 2024 2,229
DEPRECIATION
At 1st April 2023
and 30th September 2024 1,449
NET BOOK VALUE
At 30th September 2024 780
At 31st March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,720
VAT 305 1,900
305 5,620

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 98 2,213
Tax 376 13
Social security and other taxes - 2,564
Other creditors 1,670 -
Accruals 5,250 32,986
7,394 37,776