Huntnews Limited - Accounts to registrar (filleted) - small 18.2
Huntnews Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| HUNTNEWS LIMITED |
| HUNTNEWS LIMITED (REGISTERED NUMBER: 01562748) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HUNTNEWS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlas Chambers |
| 33 West Street |
| Brighton |
| East Sussex |
| BN1 2RE |
| HUNTNEWS LIMITED (REGISTERED NUMBER: 01562748) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| HUNTNEWS LIMITED (REGISTERED NUMBER: 01562748) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Huntnews Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Consultancy income |
| Consultancy income represents net invoiced sales of services and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment income |
| Distributions from investments are recognised as other income upon the company's right to receive payment being established. |
| Tangible fixed assets |
| Office equipment | - |
| Plant | - |
| 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. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Investments |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| Investments in associates are recognised at cost less impairment, in line with the cost model. Distributions from these investments are recognised as income, in line with the company's turnover policy. |
| Other investments are valued at fair value, with changes recognised in profit and loss and held in a revaluation reserve; except those investments which are not publicly traded and so their fair value cannot be measured reliably, which are measured at cost less impairment. |
| Going concern |
| The directors do not anticipate that the recent Covid-19 outbreak will affect the company's ability to continue for the foreseeable future, given the avenues of support that are available. The company continues to adopt the going concern basis when preparing its financial statements. |
| HUNTNEWS LIMITED (REGISTERED NUMBER: 01562748) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Office |
| equipment | Plant | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | Unlisted | in | Other |
| undertakings | investments | associate | investments | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2019 | 67,532 | 149,621 |
| Additions | 4,997 |
| Disposals | ( |
) | (589 | ) |
| Revaluations | ( |
) | (12,004 | ) |
| Impairments | ( |
) | (30,000 | ) |
| At 31 March 2020 | 112,025 |
| NET BOOK VALUE |
| At 31 March 2020 | 112,025 |
| At 31 March 2019 | 149,621 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| Directors' current accounts | - | 4,714 |
| Prepayments and accrued income |
| HUNTNEWS LIMITED (REGISTERED NUMBER: 01562748) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Directors' current accounts | 2,250 | - |
| Accruals |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors occurred during the years ended 31 March 2020 and 31 March 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year | 4,714 | (1,078 | ) |
| Amounts advanced | - | 6,000 |
| Amounts repaid | (6,964 | ) | (208 | ) |
| Balance outstanding at end of year | (2,250 | ) | 4,714 |
| 9. | RELATED PARTY DISCLOSURES |
| Companies under common control |
| Amounts due from |
Amounts due to |
| £ | £ |
| Balance outstanding at start of year | 4,048 | 451 |
| Amounts advanced | 7,461 | - |
| Amounts repaid | - | - |
| Balance outstanding at end of year | 11,509 | 451 |
| These balances are included in debtors and creditors, respectively. |