REGISTERED NUMBER: 04307165 (England and Wales)

Holderness Newspapers Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Z M Broom

S J Hawcroft

REGISTERED OFFICE:

9 Market Place

Hedon

East Yorkshire

HU12 8JA

REGISTERED NUMBER:

04307165 (England and Wales)

ACCOUNTANTS:

Southgates

Chartered Certified Accountants

9 Market Place

Hedon

East Yorkshire

HU12 8JA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,901

5,201

Investments

6

-

60

3,901

5,261

CURRENT ASSETS

Debtors

7

31,492

47,465

Cash at bank and in hand

196

109

31,688

47,574

CREDITORS

Amounts falling due within one year

8

97,213

69,680

NET CURRENT LIABILITIES

(65,525

)

(22,106

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(61,624

)

(16,845

)

CREDITORS

Amounts falling due after more than one year

9

9,404

9,556

NET LIABILITIES

(71,028

)

(26,401

)

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

(71,628

)

(27,001

)

SHAREHOLDERS' FUNDS

(71,028

)

(26,401

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

S J Hawcroft - Director

Z M Broom - Director

1.	STATUTORY INFORMATION

Holderness Newspapers 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 as modified by the revaluation of certain assets.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of fifteen years.

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.

Tangible fixed assets

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

Office equipment

-

25% on cost

No depreciation is calculated on Freehold Land. Depreciation on Freehold Buildings is calculated so as to write off the cost less the residual value over the useful economic life of the building to the business. The company's policy on the maintenance of buildings is such that the directors expect the residual values of the buildings to be equal to or greater than the cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

38,417

AMORTISATION

At 1 January 2024

and 31 December 2024

38,417

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST OR VALUATION

At 1 January 2024

15,447

Disposals

(7,459

)

At 31 December 2024

7,988

DEPRECIATION

At 1 January 2024

10,246

Charge for year

1,300

Eliminated on disposal

(7,459

)

At 31 December 2024

4,087

NET BOOK VALUE

At 31 December 2024

3,901

At 31 December 2023

5,201

Cost or valuation at 31 December 2024 is represented by:

Office

equipment

£

Cost

7,988

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

60

Reclassification/transfer

(60

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

60

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

28,551

44,836

Amounts owed by participating interests

2,204

-

Prepayments

737

2,629

31,492

47,465

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,765

6,817

Trade creditors

18,129

18,696

Amounts owed to group undertakings

-

60

Taxation and social security

34,450

36,275

Other creditors

18,934

-

Directors' current accounts

7,892

-

Accruals

7,043

7,832

97,213

69,680

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

2,040

4,929

Bank loans - 2-5 years

6,434

4,627

Bank loans more 5 yr by instal

930

-

9,404

9,556

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

930

-