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
Tangible assets
101,734
114,328
Cash at bank and in hand
4,378
3,610
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
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
Good News NWK Ltd
Notes to the Accounts
for the year ended 30 November 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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.
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.
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
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
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
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
10,968
20,386
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
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,307
9,821
Good News NWK Ltd
Notes to the Accounts
for the year ended 30 November 2024
Allotted, called up and fully paid:
3 Ordinary A Shares of £1 each
3
3
2 Ordinary B Shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
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).