Picture News Limited - Filleted accounts

Registered number

10214248

Picture News Limited

Unaudited Filleted Accounts

31 March 2026

Picture News Limited
Registered number:		10214248
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		333,082			339,564

Current assets
Stocks		7,500			7,500
Debtors	4	1,048,997			873,145
Cash at bank and in hand		121,047			96,402
		1,177,544			977,047

Creditors: amounts falling due within one year	5	(317,972)			(446,237)

Net current assets			859,572			530,810

Total assets less current liabilities			1,192,654			870,374

Creditors: amounts falling due after more than one year	6		(78,769)			(112,289)

Provisions for liabilities			(9,495)			(4,287)


Net assets			1,104,390			753,798

Capital and reserves
Called up share capital			2			2
Profit and loss account			1,104,388			753,796

Shareholders' funds			1,104,390			753,798

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr R Harrison
Director
Approved by the board on 25 August 2026

Picture News Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Fixtures and Fittings			20% Straight line
	IT equipment			20% Reducing balance
	Motor Vehicles			20% Reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					10		9


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	322,417		28,473		6,489		357,379
	Additions	-		3,819		-		3,819
	At 31 March 2026	322,417		32,292		6,489		361,198

	Depreciation
	At 1 April 2025	-		15,272		2,543		17,815
	Charge for the year	6,448		3,064		789		10,301
	At 31 March 2026	6,448		18,336		3,332		28,116

	Net book value
	At 31 March 2026	315,969		13,956		3,157		333,082
	At 31 March 2025	322,417		13,201		3,946		339,564


4	Debtors					2026		2025
£							£

	Trade debtors					144,634		99,416
	Other debtors					904,363		773,729
						1,048,997		873,145


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					33,520		31,130
	Trade creditors					2,180		-
	Taxation and social security costs					282,272		415,107
						317,972		446,237


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					78,769		112,289


7	Loans					2026		2025
£							£
	Creditors include:

	Secured bank loans					112,289		143,418

	The mortgage is secured over the old joinery workshop, Black Swan Yard in Ripon - also land to the south side of Westgate, Ripon - Land Registry Title No:NYK118329 & NYK149441.


8	Events after the reporting date

	On 1 June 2026, subsequent to the reporting date, both directors ceased to be resident in the United Kingdom. The company remains incorporated in, and tax resident in, the United Kingdom. This is a non-adjusting event and accordingly no adjustment has been made to the amounts recognised in these financial statements. The directors do not consider that the event has a material financial effect on the company.


9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr R and Mrs K Harrison
	Directors Loan Account	606,246		466,238		(320,624)		751,860

		606,246		466,238		(320,624)		751,860

	Interest is payable at 3.75%, they are unsecured, have no fixed repayment date, and are repayable on demand.


10	Controlling party

	The company was controlled by Mr R Harrison and Mrs K Harrison


11	Other information

	Picture News Limited is a private company limited by shares and incorporated in England. Its registered office is:
	24 Brookside Business Park
	Stone
	Staffordshire
	England
	ST15 0RZ