REGISTERED NUMBER: 07328876 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

A & K NEWS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Turner

K L Turner

G Turner

K H Turner

SECRETARY:

K L Turner

REGISTERED OFFICE:

14a Main Street

Cockermouth

Cumbria

CA13 9LQ

REGISTERED NUMBER:

07328876 (England and Wales)

ACCOUNTANTS:

Tattersall Bailey

Chartered Accountants

14A Main Street

Cockermouth

Cumbria

CA13 9LQ

FIXED ASSETS

Intangible assets

4

26,400

35,200

Tangible assets

5

206,662

212,402

233,062

247,602

CURRENT ASSETS

Stocks

9,920

9,630

Cash in hand

887

291

10,807

9,921

CREDITORS

Amounts falling due within one year

6

143,591

146,293

NET CURRENT LIABILITIES

(132,784

)

(136,372

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100,278

111,230

CREDITORS

Amounts falling due after more than one year

7

(121,247

)

(131,954

)

PROVISIONS FOR LIABILITIES

(184

)

(418

)

NET LIABILITIES

(21,153

)

(21,142

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(21,253

)

(21,242

)

SHAREHOLDERS' FUNDS

(21,153

)

(21,142

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 June 2017 and were signed on its behalf by:

J D Turner - Director

1.	STATUTORY INFORMATION

A & K News 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net liabilities of £21,153 (2015: £21,142).

The company has the continued support of the directors and shareholders and on that basis the financial

statements have been prepared on the going concern basis.

Undertakings have been made by the directors not to substantially draw upon their loan accounts with the

company if doing so would endanger the company's liquidity or ability to pay its other creditors as they fall due.

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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2015

and 30 September 2016

60,000

AMORTISATION

At 1 October 2015

24,800

Amortisation for year

8,800

At 30 September 2016

33,600

NET BOOK VALUE

At 30 September 2016

26,400

At 30 September 2015

35,200

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 October 2015

and 30 September 2016

228,602

266

7,500

236,368

DEPRECIATION

At 1 October 2015

18,288

53

5,625

23,966

Charge for year

4,572

43

1,125

5,740

At 30 September 2016

22,860

96

6,750

29,706

NET BOOK VALUE

At 30 September 2016

205,742

170

750

206,662

At 30 September 2015

210,314

213

1,875

212,402

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Bank loans and overdrafts

14,680

15,440

Corporation Tax

174

1,689

Social security and other taxes

110

95

VAT

1,541

1,558

Directors' current accounts

124,485

125,901

Accrued expenses

2,601

1,610

143,591

146,293

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.16

30.9.15

£

£

Bank loans - 1-2 years

12,029

12,468

Bank loans - 2-5 years

36,087

37,404

Bank loans more 5 years

73,131

82,082

121,247

131,954

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 years

73,131

82,082

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.16

30.9.15

£

£

Bank overdrafts

2,651

2,972

Bank loans

133,276

144,422

135,927

147,394

The company's bankers Lloyds Bank PLC hold a first legal charge over the company's freehold property in

addition to a second legal charge over the home address of Mr G Turner and Mrs K H Turner, directors of the

company.

Lloyds Bank PLC also hold security over the company's assets with regard to the overdraft facility which has

been extended to the company. This facility was successfully renewed at 31 March 2016.

In addition, Mrs K Turner has provided an all monies guarantee for a principal amount of £40,000 plus interest

and other costs.

9.	ULTIMATE CONTROLLING PARTY