IRIS Accounts Production v25.1.4.42 01911678 Board of Directors 1.3.24 28.2.25 28.2.25 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019116782024-02-29019116782025-02-28019116782024-03-012025-02-28019116782023-02-28019116782023-03-012024-02-29019116782024-02-2901911678ns15:EnglandWales2024-03-012025-02-2801911678ns14:PoundSterling2024-03-012025-02-2801911678ns10:Director12024-03-012025-02-2801911678ns10:PrivateLimitedCompanyLtd2024-03-012025-02-2801911678ns10:SmallEntities2024-03-012025-02-2801911678ns10:AuditExempt-NoAccountantsReport2024-03-012025-02-2801911678ns10:SmallCompaniesRegimeForDirectorsReport2024-03-012025-02-2801911678ns10:SmallCompaniesRegimeForAccounts2024-03-012025-02-2801911678ns10:FullAccounts2024-03-012025-02-2801911678ns10:Director22024-03-012025-02-2801911678ns10:RegisteredOffice2024-03-012025-02-2801911678ns5:CurrentFinancialInstruments2025-02-2801911678ns5:CurrentFinancialInstruments2024-02-2901911678ns5:ShareCapital2025-02-2801911678ns5:ShareCapital2024-02-2901911678ns5:RevaluationReserve2025-02-2801911678ns5:RevaluationReserve2024-02-2901911678ns5:RetainedEarningsAccumulatedLosses2025-02-2801911678ns5:RetainedEarningsAccumulatedLosses2024-02-2901911678ns5:ComputerEquipment2024-03-012025-02-2801911678ns5:ComputerEquipment2025-02-2801911678ns5:WithinOneYearns5:CurrentFinancialInstruments2025-02-2801911678ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2901911678ns5:RevaluationReserve2024-02-29019116781ns10:Director12024-02-29019116781ns10:Director12023-02-28019116781ns10:Director12024-03-012025-02-28019116781ns10:Director12023-03-012024-02-29019116781ns10:Director12025-02-28019116781ns10:Director12024-02-29
REGISTERED NUMBER: 01911678 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Borough News Limited

Borough News Limited (Registered number: 01911678)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Borough News Limited

Company Information
for the Year Ended 28 February 2025







DIRECTORS: C E Sutton
N R Sutton





REGISTERED OFFICE: 44 Colton Road
Shrivenham
Swindon
Wiltshire
SN6 8AZ





REGISTERED NUMBER: 01911678 (England and Wales)

Borough News Limited (Registered number: 01911678)

Balance Sheet
28 February 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,363 -
Investment property 5 - 1,450,000
2,363 1,450,000

CURRENT ASSETS
Debtors 6 9,500 1,193
Cash at bank 1,513,757 133,824
1,523,257 135,017
CREDITORS
Amounts falling due within one year 7 8,785 49,152
NET CURRENT ASSETS 1,514,472 85,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,516,835

1,535,865

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 8 - 1,450,000
Retained earnings 1,486,835 55,865
SHAREHOLDERS' FUNDS 1,516,835 1,535,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 18 June 2025 and were signed on its behalf by:





C E Sutton - Director


Borough News Limited (Registered number: 01911678)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Borough 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 as modified by the revaluation of certain assets.

Turnover
Turnover is the fair value of consideration received or due in respect of rent receivable and insurance recharged from commercial properties situated in the United Kingdom, excluding VAT.

The Company recognises revenue when the following conditions are satisfied:
i. the amount of revenue can be measured reliably.
ii. it is probable that the economic benefits associated with the transaction can be measured reliably.

Where payments are received in advance from tenants, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 straight line basis

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with an change recognised in the profit and loss account.

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.

Cash and cash equivalent
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

Borough News Limited (Registered number: 01911678)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest

Distributions to equity holders
Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 3,527
At 28 February 2025 3,527
DEPRECIATION
Charge for year 1,164
At 28 February 2025 1,164
NET BOOK VALUE
At 28 February 2025 2,363

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2024 1,450,000
Disposals (1,450,000 )
At 28 February 2025 -
NET BOOK VALUE
At 28 February 2025 -
At 29 February 2024 1,450,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Directors' current accounts 9,500 -
Prepayments and accrued income - 1,193
9,500 1,193

Borough News Limited (Registered number: 01911678)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation 6,565 21,571
Accruals and deferred income 2,220 27,581
8,785 49,152

8. RESERVES
Revaluation
reserve
£   
At 1 March 2024 1,450,000
Revaluation in year (1,450,000 )

At 28 February 2025 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025 2024
£    £   
C E Sutton
Balance outstanding at start of year - -
Amounts advanced 9,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,500 -