Methodist Newspaper Company Limited - Accounts to registrar (filleted) - small 18.2

Methodist Newspaper Company Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 00000295 (England and Wales)









Unaudited Financial Statements

for the Period

1 December 2017 to 20 November 2018

for

Methodist Newspaper Company Limited

Methodist Newspaper Company Limited (Registered number: 00000295)






Contents of the Financial Statements
for the Period 1 December 2017 to 20 November 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

Methodist Newspaper Company Limited

Company Information
for the Period 1 December 2017 to 20 November 2018







DIRECTORS: Ms M R Sleight
C Wells
Reverend S J Wild





SECRETARY: C Wells





REGISTERED OFFICE: Le Strange Old Barns Golf Course Road
Old Hunstanton
Hunstanton
PE36 6JG





REGISTERED NUMBER: 00000295 (England and Wales)





ACCOUNTANTS: G A Services
10 Ash Grove
South Wootton
King's Lynn
Norfolk
PE30 3TS

Methodist Newspaper Company Limited (Registered number: 00000295)

Balance Sheet
20 November 2018

20.11.18 30.11.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 374,114 378,679

CURRENT ASSETS
Debtors 5 82,359 115,296
Cash at bank 275,275 229,003
357,634 344,299
CREDITORS
Amounts falling due within one year 6 601,382 578,594
NET CURRENT LIABILITIES (243,748 ) (234,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,366

144,384

CAPITAL AND RESERVES
Called up share capital 3,500 3,500
Retained earnings 126,866 140,884
130,366 144,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 20 November 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 20 November 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2020 and were
signed on its behalf by:





Ms M R Sleight - Director


Methodist Newspaper Company Limited (Registered number: 00000295)

Notes to the Financial Statements
for the Period 1 December 2017 to 20 November 2018

1. STATUTORY INFORMATION

Methodist Newspaper Company 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.

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

Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

Methodist Newspaper Company Limited (Registered number: 00000295)

Notes to the Financial Statements - continued
for the Period 1 December 2017 to 20 November 2018

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2017
and 20 November 2018 528,354 210,732 739,086
DEPRECIATION
At 1 December 2017 150,853 209,554 360,407
Charge for period 3,574 991 4,565
At 20 November 2018 154,427 210,545 364,972
NET BOOK VALUE
At 20 November 2018 373,927 187 374,114
At 30 November 2017 377,501 1,178 378,679

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20.11.18 30.11.17
£    £   
Trade debtors 65,724 74,096
Other debtors 16,635 41,200
82,359 115,296

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20.11.18 30.11.17
£    £   
Trade creditors 31,058 31,060
Taxation and social security 485 25
Other creditors 569,839 547,509
601,382 578,594

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a balance of £400,262 owed to the directors M Sleight and C Wells . This is made
up of amounts brought forward and monies introduced..

Methodist Newspaper Company Limited

Report of the Accountants to the Directors of
Methodist Newspaper Company Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 20 November 2018 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






G A Services
10 Ash Grove
South Wootton
King's Lynn
Norfolk
PE30 3TS


31 July 2020