Outstanding News and Mags Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04683035 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

OUTSTANDING NEWS AND MAGS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

O Akinbode

SECRETARY:

O Akinbode

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

04683035 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Intangible assets

4

2

Tangible assets

5

20,855

3,140

20,857

3,142

CURRENT ASSETS

Debtors

54,595

31,038

Cash at bank

119,110

143,636

173,705

174,674

CREDITORS

Amounts falling due within one year

17,192

17,674

NET CURRENT ASSETS

156,513

157,000

TOTAL ASSETS LESS CURRENT
LIABILITIES

177,370

160,142

CREDITORS

Amounts falling due after more than one
year

13,875

-

NET ASSETS

163,495

160,142

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

163,395

160,042

SHAREHOLDERS' FUNDS

163,495

160,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd December 2025 and were signed by:

O Akinbode - Director

1.	STATUTORY INFORMATION

Outstanding News and Mags 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.

Sale of goods - Turnover from the sale of goods is recognised at the point of sale.

Rendering of services - When providing day services, turnover is usually recognised on completion of the service and, for monthly engagements, it is recognised by reference to the stage of completion at the balance sheet date.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten 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

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Plant and machinery etc - 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

and 31st March 2025

245,023

AMORTISATION

At 1st April 2024

and 31st March 2025

245,021

NET BOOK VALUE

At 31st March 2025

2

At 31st March 2024

2

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

9,788

Additions

18,500

At 31st March 2025

28,288

DEPRECIATION

At 1st April 2024

6,648

Charge for year

785

At 31st March 2025

7,433

NET BOOK VALUE

At 31st March 2025

20,855

At 31st March 2024

3,140

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

18,500

At 31st March 2025

18,500

NET BOOK VALUE

At 31st March 2025

18,500

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2025 and 31st March 2024:

2025

2024

£

O Akinbode

Balance outstanding at start of year

(69

)

(2,208

)

Amounts advanced

33,875

26,772

Amounts repaid

(21,742

)

(24,633

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

12,064

(69

)

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2024 - £5,000) were paid to the director .

Included in other debtors is a loan to O Akinbode of £12,064 (2024: creditor of £69) which is interest free and repayable on demand.