Company Registration No. 06510185 (England and Wales)
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
PAGES FOR FILING WITH REGISTRAR
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
COMPANY INFORMATION
Directors
Professor Simon Green
Mr Andreas Campomar
Company number
06510185
Registered office
85 Great Portland Street
First Floor
London
England
W1W 7LT
Accountants
Kirk Rice LLP
Zeeta House
200 Upper Richmond Road
Putney
London
SW15 2SH
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOCIAL AFFAIRS UNIT MAGAZINES LIMITED FOR THE YEAR ENDED 30 JUNE 2021
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Social Affairs Unit Magazines Limited for the year ended 30 June 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Social Affairs Unit Magazines Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Social Affairs Unit Magazines Limited
and state those matters that we have agreed to state to the Board of Directors of Social Affairs Unit Magazines Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Social Affairs Unit Magazines Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Social Affairs Unit Magazines Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss
of Social Affairs Unit Magazines Limited. You consider that Social Affairs Unit Magazines Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Social Affairs Unit Magazines Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
8 February 2022
Zeeta House
200 Upper Richmond Road
Putney
London
SW15 2SH
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2021
30 June 2021
- 2 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
4
9,591
10,723
Cash at bank and in hand
9,697
22,890
19,288
33,613
Creditors: amounts falling due within one year
5
(12,239)
(23,230)
Net current assets
7,049
10,383
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
7,048
10,382
Total equity
7,049
10,383
The
true
Directors
elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 February 2022 and are signed on its behalf by:
Professor Simon Green
Director
Company Registration No. 06510185
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 3 -
1
Accounting policies
Company information
Social Affairs Unit Magazines Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
85 Great Portland Street, First Floor, London, England, W1W 7LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have a reasonable expectation that the company has adequate current and future resources and sources of income to continue in operational existence for the foreseeable future. Accordingly, the directors will continue to adopt the going concern basis in preparing the annual report and financial statements.
true
1.3
Turnover
Turnover is the amount receivable for the provision of services falling within the company's ordinary activities excluding value added tax and grants receivable from The Social Affairs Unit.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
1
Accounting policies
(Continued)
- 4 -
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including
D
irectors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Tangible fixed assets
Computers
£
Cost
At 1 July 2020 and 30 June 2021
7,060
Depreciation and impairment
At 1 July 2020 and 30 June 2021
7,060
Carrying amount
At 30 June 2021
At 30 June 2020
SOCIAL AFFAIRS UNIT MAGAZINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 5 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
3,417
Amounts owed by group undertakings
3,825
3,598
Other debtors
2,349
7,125
9,591
10,723
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
10,739
261
Taxation and social security
7,369
Other creditors
1,500
15,600
12,239
23,230
6
Parent company
There was no single ultimate controlling party during the year.
The company is included in the consolidated financial statements of The Social Affairs Unit Limited, forming at once the largest and the smallest body of undertakings in which the company forms a part as a direct subsidiary undertaking. The registered office of this company is located at 10 Greenwich Quay Clarence Road, London, SE8 3EY. Accounts for The Social Affairs Unit can be obtained from Companies House.