This UK kids Magazine is produced by Panini, and it's a companion to the Spectacular Spider-Man (UK Magazine) produced by the same guys.
The new "Spider-Man & Friends" range is based around Spider-Man, his cousin Spider-Girl, plus Hulk and Wolverine, though there's plenty of guest appearances. You should be able to find plenty of Spider-Man & Friends toys still in the shops, the style is a western/manga cross, and the target group is the 3-9 year old market.
Published every four or five weeks, this UK magazine features a toy taped to the front of each issue. Inside you'll find a four page Spidey & Friends story with three panels per page, captions of 8-20 words per panel. Then there's some nice simple kids puzzles, some coloring, a couple of competitions, and a page or two of Spidey merchandise. Essentially, it's the same format as the older kids magazine, just with a much younger target market.
The title ended with issue #66, after Disney took over Marvel, and withdrew Panini's license to create original stories. It was replaced by the reprint title Marvel Super Hero Squad Magazine (UK).