Company Registration No. 11665042 (England and Wales)
Sessions News Limited
Unaudited accounts
for the year ended 31 March 2021
Sessions News Limited
Unaudited accounts
Contents
Sessions News Limited
Company Information
for the year ended 31 March 2021
Directors
A Sessions
B Sessions
S Sessions
S Sessions-Puplett
Company Number
11665042 (England and Wales)
Registered Office
Fingates
5-7 Cranwood Street
London
EC1V 9EE
UK
Sessions News Limited
Statement of financial position
as at 31 March 2021
Tangible assets
1,202,107
699,121
Cash at bank and in hand
36
7
Creditors: amounts falling due within one year
(196,499)
(3,000)
Net current liabilities
(171,548)
(2,993)
Total assets less current liabilities
1,030,559
696,128
Creditors: amounts falling due after more than one year
(1,040,788)
(699,941)
Net liabilities
(10,229)
(3,813)
Called up share capital
100
100
Profit and loss account
(10,329)
(3,913)
Shareholders' funds
(10,229)
(3,813)
For the year ending 31 March 2021 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2021 and were signed on its behalf by
B Sessions
Director
Company Registration No. 11665042
Sessions News Limited
Notes to the Accounts
for the year ended 31 March 2021
Sessions News Limited is a private company, limited by shares, registered in England and Wales, registration number 11665042. The registered office is Fingates, 5-7 Cranwood Street, London, EC1V 9EE, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Freehold land and assets in the course of construction are not depreciated.
Fixtures & fittings
20% Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2020
697,435
1,716
699,151
Additions
497,236
5,750
502,986
At 31 March 2021
1,194,671
7,466
1,202,137
At 31 March 2021
1,194,671
7,436
1,202,107
At 31 March 2020
697,435
1,686
699,121
Sessions News Limited
Notes to the Accounts
for the year ended 31 March 2021
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
193,499
-
7
Creditors: amounts falling due after more than one year
2021
2020
Loans from directors
170,048
324,897
Allotted, called up and fully paid:
60 A Ordinary shares of £1 each
60
60
40 B Ordinary shares of £1 each
40
40
9
Average number of employees
During the year the average number of employees was 4 (2020: 0).
