Thomson Regional Newspapers (Wales) Limited

Thomson Regional Newspapers (Wales) Limited

Report and Accounts

for the Year Ended 31 December 2013

Thomson Regional Newspapers (Wales) Limited
Directors' Report for the Year Ended 31 December 2013

The directors present their report and accounts for the year ended 31 December 2013.

Directors

The directors who held office during the year and up to the date of signing were as follows:

D.J. Clarke (resigned 12 November 2013)

S.N. Corbin

S.L. Jenner

P. Thorn

Approved by the Board on 10 April 2014 and signed on its behalf by:

.........................................
S.L. Jenner
Director

Registered Office: 2nd Floor, Aldgate House, 33 Aldgate High Street, London, EC3N 1DL.

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Thomson Regional Newspapers (Wales) Limited
(Registration number: 01071280)
Balance Sheet as at 31 December 2013

	Note	2013 £ 000	2012 £ 000
Fixed assets
Investment - shares in subsidiary company	2	-	-
Current assets
Debtors	3	8,018	8,018
Net assets		8,018	8,018
Capital and reserves
Called up share capital	4	-	-

Profit and loss account		8,018	8,018
		8,018	8,018

For the year ended 31 December 2013 the Company was entitled to the exemption under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit in accordance with section 476(2) of the Companies Act 2006.

The directors acknowledge their responsibilities for:(a) ensuring the Company keeps accounting records which comply with section 386; and(b) preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the financial year, and of its profit and loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the Company.

Approved and authorised for issue by the Board on 10 April 2014 and signed on its behalf by:

.........................................
P. Thorn
Director

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Thomson Regional Newspapers (Wales) Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention in accordance with applicable UK accounting standards and on a basis consistent with the previous year.

The Company has not traded during the year or the previous year, has incurred no liabilities and, consequently, has made neither profit nor loss. None of the directors received any emoluments in respect of their services to the Company.

2	Investments held as fixed assets

The Company owns 100% of the issued share capital of Celtic Newspapers Limited, a company incorporated in England & Wales, which was dormant for the year ended 31 December 2013. Investments are held at cost less any provision for permanent diminution in value. Provision has been made against the full cost of its investment in its subsidiary.

Debtors

		2013 £ 000			2012 £ 000
Amounts owed by group undertakings		8,018			8,018

Amounts owed by fellow group undertakings are unsecured, non-interest bearing and repayable on demand.

4	Called up share capital

Alotted, called up and fully paid shares

		2011		2010
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

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Thomson Regional Newspapers (Wales) Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

5	Company status and ultimate parent undertaking

The Company's immediate parent company is TRN Old Company Limited. Within the meaning of the Companies Act 2006 (“CA2006”), Thomson Investments Limited (“TIL”) is regarded by the Directors of the Company as being the Company’s ultimate parent company and controlling party. Within the meaning of CA2006, Thomson Reuters Corporation (“Thomson Reuters”) is the parent undertaking of the only group of undertakings for which group accounts were drawn up and of which the Company was a member for the period ended 31 December 2013. TIL and Thomson Reuters are incorporated under the laws of the Province of Ontario, Canada.

Copies of the Thomson Reuters annual reports are available from: The Thomson Reuters Building, South Colonnade, Canary Wharf, London E14 5EP, and online at www.thomsonreuters.com.

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