ACCOUNTS - Final Accounts preparation

Registered number: 12992797

PINKNEWS GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

PINKNEWS GROUP LIMITED

REGISTERED NUMBER: 12992797

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

	2024	2024	2023	2023
Note	£	£	£	£

Fixed assets
Investments	4		133,297		139,472
			133,297		139,472
Current assets
Debtors: amounts falling due within one year	5	-		48,499
Cash at bank and in hand	6	1,004,014		849,865
		1,004,014		898,364
Creditors: amounts falling due within one year	7	(104,968)		(1,321)
Net current assets			899,046		897,043
Total assets less current liabilities			1,032,343		1,036,515

Net assets			1,032,343		1,036,515

Capital and reserves
Called up share capital	8	1,526	1,526
Other reserves	9	31,700	37,875
Profit and loss account	9	999,117	997,114
		1,032,343	1,036,515

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PINKNEWS GROUP LIMITED

REGISTERED NUMBER: 12992797

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.

B M Cohen

Director

The notes on pages 3 to 6 form part of these financial statements.

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PINKNEWS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

PinkNews Group Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is C/O Epoq Legal, Maxwell Road, Borehamwood, WD6 1JN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Share-based payments

Share options granted for the benefit of employees that are employed in subsidiary companies are accounted for as an expense in that company. Correspondingly, an equivalent increase in investment is recognised in proportion to the expense recognised for the year and accumulated in other reserves.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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PINKNEWS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price.

2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	139,472
	Additions	12,625
	Disposals	(18,800)
	At 31 December 2024	133,297

Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Class of shares	Holding

PinkNews Media Ltd	Ordinary	100%
Remarkable Truth Ltd	Ordinary	100%
PinkNews Inc	Ordinary	100%

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PINKNEWS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	-	48,499
	-	48,499

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	1,004,014	849,865
	1,004,014	849,865

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,500	-
Amounts owed to group undertakings	101,572	71
Corporation tax	306	-
Accruals and deferred income	1,590	1,250
	104,968	1,321

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

15,260,000 (2023 - 15,260,000) A Ordinary shares of £- each	1,526	1,526

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PINKNEWS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves

Other reserves

Other reserves is comprised of the fair value of the share options granted to the employees of PinkNews Media Limited. PinkNews Group Limited has granted share options directly to the employees of its subsidiary undertaking. The share-based payment is recognised as an increase to the investment in PinkNews Media Limited with the corresponding capital contribution accumulated in other reserves. Adjustments are made to release share options that are no longer exercisable which results in a corresponding decrease to the investment and other reserves.

10.	Post balance sheet events

Subsequent to the reporting date, the Company repurchased 2,080,000 Ordinary A shares for total consideration of £170,000. The 2,080,000 Ordinary A shares were subsequently cancelled.
This is considered to be a non-adjusting subsequent event and accordingly, the financial statements for the year ended 31 December 2024 have not been adjusted to reflect its impact.

11.	Controlling party

The ultimate controlling party is Benjamin Cohen by virtue of his shareholding.

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