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REGISTERED NUMBER: 09144142 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

WCN Publishing Ltd.

WCN Publishing Ltd. (Registered number: 09144142)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

WCN Publishing Ltd.

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M P Forder
S G Peskett





REGISTERED OFFICE: The Coach House
24 Bridge Street
Leatherhead
Surrey
KT22 8BX





REGISTERED NUMBER: 09144142 (England and Wales)





ACCOUNTANTS: Deeks Evans
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU

WCN Publishing Ltd. (Registered number: 09144142)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 765,000 825,000
Tangible assets 5 - -
765,000 825,000

CURRENT ASSETS
Debtors 6 122,823 157,658
Cash at bank and in hand 85,423 101,902
208,246 259,560
CREDITORS
Amounts falling due within one year 7 351,835 374,035
NET CURRENT LIABILITIES (143,589 ) (114,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,411

710,525

CREDITORS
Amounts falling due after more than one
year

8

55,905

244,067
NET ASSETS 565,506 466,458

CAPITAL & RESERVES
Called up share capital 9 100 100
Retained earnings 565,406 466,358
SHAREHOLDERS' FUNDS 565,506 466,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:



M P Forder - Director


WCN Publishing Ltd. (Registered number: 09144142)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

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

Turnover
Turnover represents the sales value of goods and services supplied net of value added tax.

Subscription revenue on magazines is recognised when the product is despatched to the customer. Revenue on subscription services is recognised in relation to the time period for which the payment applies. Subscriptions received in advance of the product or service being received by the customer are treated as a current liability while revenue relating to products or services received by the customer before payment is treated as accrued income within debtors.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

WCN Publishing Ltd. (Registered number: 09144142)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 1,200,000
AMORTISATION
At 1 January 2021 375,000
Charge for year 60,000
At 31 December 2021 435,000
NET BOOK VALUE
At 31 December 2021 765,000
At 31 December 2020 825,000

5. TANGIBLE FIXED ASSETS
Fixtures Computer
& fittings equipment Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 24,774 10,585 35,359
DEPRECIATION
At 1 January 2021
and 31 December 2021 24,774 10,585 35,359
NET BOOK VALUE
At 31 December 2021 - - -
At 31 December 2020 - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 100,137 136,241
Other debtors 6,500 6,500
VAT 8,212 5,897
Deferred tax asset 3,044 3,331
Prepayments 4,930 5,689
122,823 157,658

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans & overdrafts 9,606 4,167
Trade creditors 60,584 73,904
Tax 37,967 44,789
Social security & other taxes 1,584 -
Directors' current accounts 168,000 168,000
Accruals & deferred income 74,094 83,175
351,835 374,035

WCN Publishing Ltd. (Registered number: 09144142)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 1-2 years 9,606 8,333
Bank loans - 2-5 years 26,858 37,500
Directors' loan accounts 19,441 198,234
55,905 244,067

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 ordinary £1 100 100

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
WCN Publishing Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WCN Publishing Ltd. for the year ended 31 December 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of WCN Publishing Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of WCN Publishing Ltd. and state those matters that we have agreed to state to the Board of Directors of WCN Publishing Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WCN Publishing Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that WCN Publishing Ltd. 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 profit of WCN Publishing Ltd.. You consider that WCN Publishing Ltd. 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 WCN Publishing Ltd.. 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.






Deeks Evans
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU


5 September 2022