REGISTERED NUMBER: 10452329 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

West Midlands Magazines Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

S R Archer

Mrs C Archer

REGISTERED OFFICE:

West Midlands House

Gipsy Lane

Willenhall

WV13 2HA

REGISTERED NUMBER:

10452329 (England and Wales)

ACCOUNTANTS:

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

46,727

62,482

46,727

62,482

CURRENT ASSETS

Debtors

6

15,749

23,132

Cash at bank and in hand

5,021

8,537

20,770

31,669

CREDITORS

Amounts falling due within one year

7

23,161

23,086

NET CURRENT (LIABILITIES)/ASSETS

(2,391

)

8,583

TOTAL ASSETS LESS CURRENT LIABILITIES

44,336

71,065

CREDITORS

Amounts falling due after more than one year

8

(43,329

)

(52,610

)

PROVISIONS FOR LIABILITIES

-

(2,937

)

NET ASSETS

1,007

15,518

CAPITAL AND RESERVES

Called up share capital

11

20,001

20,001

Retained earnings

(18,994

)

(4,483

)

SHAREHOLDERS' FUNDS

1,007

15,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

S R Archer - Director

1.	STATUTORY INFORMATION

West Midlands Magazines 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Website is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

2,000

AMORTISATION

At 1 January 2024

and 31 December 2024

2,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

67,177

DEPRECIATION

At 1 January 2024

4,695

Charge for year

15,755

At 31 December 2024

20,450

NET BOOK VALUE

At 31 December 2024

46,727

At 31 December 2023

62,482

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

15,132

20,364

Other debtors

617

2,768

15,749

23,132

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

2,112

2,094

Hire purchase contracts (see note 9)

7,266

7,266

Taxation and social security

10,960

11,151

Other creditors

2,823

2,575

23,161

23,086

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

1,408

3,422

Hire purchase contracts (see note 9)

41,921

49,188

43,329

52,610

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

7,266

7,266

Between one and five years

41,921

49,188

49,187

56,454

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Between one and five years

13,725

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

3,520

5,516

Hire purchase contracts

49,187

56,454

52,707

61,970

The Bank loan is provided under the Covid-19 Bounce Back Loan Scheme and as such is secured by HM Government.The hire purchase agreements are secured on the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

20,001

Ordinary

£1.00

20,001

20,001

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

S R Archer and Mrs C Archer

Balance outstanding at start of year

786

4,995

Amounts advanced

-

477

Amounts repaid

(786

)

(4,686

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

786

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West Midlands Magazines Limited for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of West Midlands Magazines Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of West Midlands Magazines Limited and state those matters that we have agreed to state to the Board of Directors of West Midlands Magazines Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Midlands Magazines Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that West Midlands Magazines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of West Midlands Magazines Limited. You consider that West Midlands Magazines Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of West Midlands Magazines Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crowther Jordan Limited

Chartered Accountants

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

10 September 2025