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Company Registration No. 09891065 (England and Wales)
Good News NWK Ltd Unaudited accounts for the year ended 30 November 2024
Good News NWK Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
101,734 
114,328 
Current assets
Debtors
499,433 
496,696 
Cash at bank and in hand
4,378 
3,610 
503,811 
500,306 
Creditors: amounts falling due within one year
(285,006)
(286,657)
Net current assets
218,805 
213,649 
Total assets less current liabilities
320,539 
327,977 
Creditors: amounts falling due after more than one year
(63,558)
(56,299)
Net assets
256,981 
271,678 
Capital and reserves
Called up share capital
5 
5 
Profit and loss account
256,976 
271,673 
Shareholders' funds
256,981 
271,678 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
Kingsley Tiribabi Director Company Registration No. 09891065
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Good News NWK Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Good News NWK Ltd is a private company, limited by shares, registered in England and Wales, registration number 09891065. The registered office is First Floor Offices, 25 Sanders Road, Wellingborough, Northamptonshire, NN8 4NL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 10 years
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 3 -
Good News NWK Ltd Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2023
85,673 
36,829 
63,148 
10,666 
196,316 
Additions
- 
- 
8,128 
3,456 
11,584 
At 30 November 2024
85,673 
36,829 
71,276 
14,122 
207,900 
Depreciation
At 1 December 2023
25,200 
13,850 
37,843 
5,095 
81,988 
Charge for the year
8,568 
5,745 
7,926 
1,939 
24,178 
At 30 November 2024
33,768 
19,595 
45,769 
7,034 
106,166 
Net book value
At 30 November 2024
51,905 
17,234 
25,507 
7,088 
101,734 
At 30 November 2023
60,473 
22,979 
25,305 
5,571 
114,328 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
10,968 
20,386 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
140,312 
160,884 
Accrued income and prepayments
9,231 
6,312 
Other debtors
349,890 
329,500 
499,433 
496,696 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
140,426 
50,412 
Obligations under finance leases and hire purchase contracts
3,514 
4,601 
Trade creditors
5,034 
12,215 
Taxes and social security
127,503 
211,745 
Other creditors
7,029 
6,184 
Accruals
1,500 
1,500 
285,006 
286,657 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
57,251 
46,478 
Obligations under finance leases and hire purchase contracts
6,307 
9,821 
63,558 
56,299 
- 4 -
Good News NWK Ltd Notes to the Accounts for the year ended 30 November 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary A Shares of £1 each
3 
3 
2 Ordinary B Shares of £1 each
2 
2 
5 
5 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Kingsley Tiribabi
Directors loan
288,678 
21,042 
- 
309,720 
288,678 
21,042 
- 
309,720 
During the year, the company made advances to the directors. Interest was charged on these loans at the official rate and the loans had no fixed repayment terms.
10
Average number of employees
During the year the average number of employees was 46 (2023: 44).
- 5 -