For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

NEW JOURNAL ENTERPRISES LIMITED is a private company limited by guarantee incorporated in England and Wales. The principal place of business and registered office is 38 - 40 Camden Road, London, NW1 9DR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Management has determined that even though the financial results are disappointing they intend to continue trading in the foreseeable future and are optimistic that they will be able to improve the financial performance of the company by taking any decisions required to do so.

Turnover represents income from advertising services rendered under contracts, net of VAT and discounts. To the extent that there is a right to consideration, turnover is recorded at the value of the consideration due. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

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 balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except, where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

The average monthly number of persons (including directors) employed by the company during the year was:

Investment property comprised of a property located at 5D Platts Lane, Hampstead, London. The fair value of the investment property arrived at on the basis of valuation carried out on 10 June 2016 by Alexanders Property Consultants, who were not connected to the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

In the directors' opinion the current market value of the the investment property is not significantly different from the valuation shown above.

The company provided loans to one of the directors amounting to £50,000 on 28th November 2022, with a further £8,000 advanced on 29th January 2024. An additional £21,000 was advanced in February 2025. The loans are due to be repaid to the company over a period of 10 years at 3.75% interest.

The bank loan represents borrowing under the Bounce Back Loan Scheme introduced by the UK government. The government guarantees 100% of the loan.

The company is limited by guarantee, not having a share capital and consequently the liability of the only previous member, Mr Eric Gordon (now deceased) was limited. The current members undertake to contribute to the net assets or liabilities of the company on winding up an amount not exceeding £1.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The property currently occupied by the company is owned by The Camden New Journal Pension Fund. The directors and certain other key employees of the company are the only members of this pension fund and they also act with another as trustees. The rent paid to the pension fund during the year amounts to £30,750 (2025 : £28,500), which is considered to represent a fair market rent.

The company was controlled during the current and previous years by the directors, who are senior members of the management committee.