Company No: 07810889 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	C W Shelley
	P J Shelley
	S L Shelley

Registered office	St. Andrews
	Farthings Hill
	Horsham
	West Sussex
	RH12 1TS
	United Kingdom

Company number

07810889 (England and Wales)

Chartered accountants	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	United Kingdom

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	4	255,216		288,404
		255,216		288,404
Current assets
Stocks		98,713		95,652
Debtors	5	57,529		46,732
Cash at bank and in hand		192,544		201,923
		348,786		344,307
Creditors: amounts falling due within one year	6	( 305,771)		( 294,233)
Net current assets		43,015		50,074
Total assets less current liabilities		298,231		338,478
Provision for liabilities	7	( 20,144)		( 25,793)
Net assets		278,087		312,685
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		277,987		312,585
Total shareholder's funds		278,087		312,685

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Shelley News Limited (registered number: 07810889) were approved and authorised for issue by the Board of Directors on 11 September 2025. They were signed on its behalf by:

C W Shelley Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shelley News Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St. Andrews, Farthings Hill, Horsham, West Sussex, RH12 1TS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	31.03.2025		31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	43		46

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	193,500		193,500
At 31 March 2025	193,500		193,500
Accumulated amortisation
At 01 April 2024	193,500		193,500
At 31 March 2025	193,500		193,500
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2024	195,068		281,933		69,484		546,485
Additions	0		4,771		0		4,771
At 31 March 2025	195,068		286,704		69,484		551,256
Accumulated depreciation
At 01 April 2024	64,568		186,275		7,238		258,081
Charge for the financial year	7,803		14,594		15,562		37,959
At 31 March 2025	72,371		200,869		22,800		296,040
Net book value
At 31 March 2025	122,697		85,835		46,684		255,216
At 31 March 2024	130,500		95,658		62,246		288,404

5. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	8,367		9,432
Amounts owed by Group undertakings	1,923		4,777
Prepayments	41,421		26,509
Other debtors	5,818		6,014
	57,529		46,732

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	191,904		171,556
Accruals	16,320		15,378
Corporation tax	65,508		73,701
Other taxation and social security	28,301		28,957
Other creditors	3,738		4,641
	305,771		294,233

7. Deferred tax

	31.03.2025		31.03.2024
	£		£
At the beginning of financial year	( 25,793)		( 29,752)
Credited to the Statement of Income and Retained Earnings	5,649		3,959
At the end of financial year	( 20,144)		( 25,793)

The deferred taxation balance is made up as follows:

	31.03.2025		31.03.2024
	£		£
Accelerated capital allowances	( 20,485)		( 25,793)
Other timing differences	341		0
	( 20,144)		( 25,793)

8. Called-up share capital

	31.03.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
60 Ordinary A shares of £ 1.00 each	60		60
40 Ordinary B shares of £ 1.00 each	40		40
	100		100

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	31.03.2025		31.03.2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	1,363		0

10. Ultimate controlling party

Parent Company:

Shelley News Holding Limited

St. Andrews, Farthings Hill, Horsham, West Sussex, RH12 1TS

The group, headed by Shelley News Holdings Limited, qualifies as small as set out in section 383 of the Companies Act 2008 and is therefore eligible for exemption to prepare consolidated accounts.