| REGISTERED NUMBER: |
| Financial Statements for the Period 19 May 2023 to 31 August 2024 |
| for |
| Optimum News Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Period 19 May 2023 to 31 August 2024 |
| for |
| Optimum News Limited |
| Optimum News Limited (Registered number: 14880552) |
| Contents of the Financial Statements |
| for the Period 19 May 2023 to 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Optimum News Limited |
| Company Information |
| for the Period 19 May 2023 to 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants |
| and Statutory Auditors |
| Seymour Chambers |
| 92 London Road |
| Liverpool |
| Merseyside |
| L3 5NW |
| Optimum News Limited (Registered number: 14880552) |
| Balance Sheet |
| 31 August 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The financial statements were approved by the director and authorised for issue on |
| Optimum News Limited (Registered number: 14880552) |
| Notes to the Financial Statements |
| for the Period 19 May 2023 to 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Optimum News Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| The turnover in the profit & loss account represents revenue recognised on goods sold on a cash or credit basis exclusive of value added tax. Revenue is recognised based on transactions the the till system of the Go Local store. |
| Goodwill |
| 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 |
| Fixtures and fittings | - |
| Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
| 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 period 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 period 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. |
| Optimum News Limited (Registered number: 14880552) |
| Notes to the Financial Statements - continued |
| for the Period 19 May 2023 to 31 August 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL. |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| Additions |
| At 31 August 2024 |
| AMORTISATION |
| Amortisation for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| 6. | STOCKS |
| £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| VAT |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation taxation |
| Accrued expenses |
| Optimum News Limited (Registered number: 14880552) |
| Notes to the Financial Statements - continued |
| for the Period 19 May 2023 to 31 August 2024 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Optimum Group Holdings Ltd, a company incorporated in England & Wales. |
| The registered office of the parent is as follows: |
| 21 Hatton Garden |
| Liverpool |
| L3 2FE |