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REGISTERED NUMBER: 04502791 (England and Wales)














Gunwharf News Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2024






Gunwharf News Ltd (Registered number: 04502791)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gunwharf News Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: T J Bratty





SECRETARY: Mrs J Bratty





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 04502791 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Gunwharf News Ltd (Registered number: 04502791)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,620 9,185

CURRENT ASSETS
Stocks 5 49,124 47,082
Debtors 6 200,244 187,109
Cash at bank and in hand 10,414 26,782
259,782 260,973
CREDITORS
Amounts falling due within one year 7 75,659 106,309
NET CURRENT ASSETS 184,123 154,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,743

163,849

CREDITORS
Amounts falling due after more than one year 8 (59,034 ) (38,149 )

PROVISIONS FOR LIABILITIES 9 (1,448 ) (1,745 )
NET ASSETS 131,261 123,955

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 131,161 123,855
SHAREHOLDERS' FUNDS 131,261 123,955

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 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.

Gunwharf News Ltd (Registered number: 04502791)

Balance Sheet - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2025 and were signed by:





T J Bratty - Director


Gunwharf News Ltd (Registered number: 04502791)

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

1. STATUTORY INFORMATION

Gunwharf 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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Gunwharf News Ltd (Registered number: 04502791)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 38,972 14,955 53,927
DEPRECIATION
At 1 November 2023 31,665 13,077 44,742
Charge for year 1,096 469 1,565
At 31 October 2024 32,761 13,546 46,307
NET BOOK VALUE
At 31 October 2024 6,211 1,409 7,620
At 31 October 2023 7,307 1,878 9,185

5. STOCKS
2024 2023
£    £   
Stocks 49,124 47,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Brunels Limited - 7,000
TJ Assets Limited 186,969 166,837
Rent deposit 9,218 9,218
Supplier deposit 1,600 1,600
Deposit Havant CC 300 300
Deposit held by Menzies 750 750
Prepayments and accrued income 1,407 1,404
200,244 187,109

Gunwharf News Ltd (Registered number: 04502791)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 55,865 72,461
Taxation - 13,821
Social security and other taxes - (16,119 )
VAT 3,183 8,728
Other creditors 13,201 13,201
Directors' current accounts 520 11,327
Accrued expenses 2,890 2,890
75,659 106,309

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 59,034 38,149

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,448 1,745

Deferred
tax
£   
Balance at 1 November 2023 1,745
Provided during year (297 )
Balance at 31 October 2024 1,448

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

Gunwharf News Ltd (Registered number: 04502791)

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

11. RELATED PARTY DISCLOSURES

Mr T Bratty is also a director and shareholder of TJ Assets Limited. As at 31st October 2024, the company was owed £70,005 (2022: £72,005) from TJ Assets Limited.

Mr T Bratty is also a director and shareholder of TJ Events Limited. As at 31st October 2024, the company was owed £104,964 (2022: £94,832) from TJ Events Limited.


Mr T Bratty is a partner of The Ice Cream Emporium. As at 31st October 2024, the company owed The Ice Cream Emporium £13,201 (2022: £13,201).

12. ULTIMATE CONTROLLING PARTY

The controlling party is T J Bratty.