Newspaper Awards Limited 31/12/2024 iXBRL

Company registration number: 03310060

Newspaper Awards Limited

Unaudited filleted financial statements

31 December 2024

Newspaper Awards Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Newspaper Awards Limited

Directors and other information


	Directors	Mr G Cullum
		Mr M Hargreaves


	Secretary	Mr G Cullum


	Company number	03310060


	Registered office	5 Underwood Street
		London
		N1 7LY

Newspaper Awards Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	4	1,576		1,572
		_______		_______
			1,576		1,572

Current assets
Debtors	5	41,820		27,967
Cash at bank and in hand		37,679		35,021
		_______		_______
		79,499		62,988
Creditors: amounts falling due
within one year	6	( 79,984)		( 63,503)
		_______		_______
Net current liabilities			( 485)		( 515)
			_______		_______
Total assets less current liabilities			1,091		1,057

			_______		_______
Net assets			1,091		1,057
			_______		_______

Capital and reserves
Called up share capital			3		3
Profit and loss account			1,088		1,054
			_______		_______
Shareholders funds			1,091		1,057
			_______		_______

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 13 June 2025 , and are signed on behalf of the board by:

Mr G Cullum

Director

Company registration number: 03310060

Newspaper Awards Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Underwood Street, London, N1 7LY.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 January 2024	3,588	3,588
Additions	791	791
	_______	_______
At 31 December 2024	4,379	4,379
	_______	_______
Depreciation
At 1 January 2024	2,016	2,016
Charge for the year	787	787
	_______	_______
At 31 December 2024	2,803	2,803
	_______	_______
Carrying amount
At 31 December 2024	1,576	1,576
	_______	_______
At 31 December 2023	1,572	1,572
	_______	_______

5. Debtors

	2024	2023
	£	£
Trade debtors	-	24,420
Other debtors	41,820	3,547
	_______	_______
	41,820	27,967
	_______	_______

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	39,032	284
Social security and other taxes	-	2,889
Other creditors	40,952	60,330
	_______	_______
	79,984	63,503
	_______	_______