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REGISTERED NUMBER: 03068928 (England and Wales)













GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

DAUNT BOOKS LIMITED

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022










Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Profit and Loss Account 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


DAUNT BOOKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTOR: A J Daunt





SECRETARY: K M Daunt





REGISTERED OFFICE: 83 Marylebone High Street
London
W1U 4QW





REGISTERED NUMBER: 03068928 (England and Wales)





AUDITORS: Sproull & Co.
Chartered Accountants
Statutory Auditors
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2022


The director presents his strategic report of the company and the group for the year ended 31st December 2022.

REVIEW OF BUSINESS
The business is in robust health and remains very well run, continuing to benefit from a loyal and expanding base of customers. The bookshops enjoy an excellent reputation within their communities and good relationships with both its suppliers and landlords. The major risk to the business is the reimposition of mandatory closure in consequence of another pandemic.

Relevant Key Performance Indicators for the business are:

Key Performance Indicator 2022 2021
Turnover £13,132,101 £9,023,798
Gross Profit £5,657,821 £4,092,248
Gross Profit Margin (%) 43.0% 45.3%
Operating Profit £427,198 £1,379,868
Shareholders' Funds £6,742,749 £6,477,744

PRINCIPAL RISKS AND UNCERTAINTIES
The new risk stems from the current economic climate and whatever that may bring in terms of potential sales falling due to a reduction in disposable income and a potential higher taxation burden on the company. the careful running of the company, however, means that we are in a strong position going into this, and we remain confident that we will be able to navigate the impacts of the worsening recession.

The group remains independently owned by the Daunt family and it is expected that meanwhile James Daunt will continue as CEO of both the Waterstones and Barnes & Noble bookselling businesses.

ON BEHALF OF THE BOARD:





A J Daunt - Director


5th October 2023

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST DECEMBER 2022


The director presents his report with the financial statements of the company and the group for the year ended 31st December 2022.

DIVIDENDS
No dividends will be distributed for the year ended 31st December 2022.

DIRECTOR
A J Daunt held office during the whole of the period from 1st January 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
Under section 487(2) of the Companies Act 2006, Sproull & Co., Chartered Accountants and Statutory Auditors, are deemed to be reappointed as auditors.

ON BEHALF OF THE BOARD:





A J Daunt - Director


5th October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DAUNT BOOKS LIMITED


Opinion
We have audited the financial statements of Daunt Books Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2022 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st December 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DAUNT BOOKS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The senior statutory auditor led a discussion with all members of the engagement team regarding the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:
- Manipulation or error in the calculation of deferred and accrued income leading to the overstatement or
understatement of net income;
- Manipulation or error in existence and/or duplication of number of candidates placed on a job leading to
overstatement or understatement of net income.

The procedures we carried out to gain sufficient appropriate audit evidence in the above areas included:
- Identifying and assessing the design effectiveness of controls which management has in place to prevent and
detect fraud and error;
- Understanding the potential for override of these controls on the financial reporting process, and how those
charged with governance address these override potentials;
- Performing tests of controls and substantive testing on appropriate samples;
- Documenting the assumptions and judgements made by management in their significant accounting estimates
and challenging these with management;
- Identifying and testing journal entries, in particular those around the year-end, and those involving unusual
postings, account combinations or amounts.

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities. In particular, the senior statutory auditor has a number of years' experience in dealing with similar Employment Agency businesses and preparing accounts under FRS 102.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DAUNT BOOKS LIMITED


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michelle Wickwar (Senior Statutory Auditor)
for and on behalf of Sproull & Co.
Chartered Accountants
Statutory Auditors
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD

9th October 2023

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER 2022

2022 2021
Notes £ £

TURNOVER 3 13,132,101 9,023,798

Cost of sales 7,474,280 4,931,550
GROSS PROFIT 5,657,821 4,092,248

Administrative expenses 5,230,623 3,095,185
427,198 997,063

Other operating income - 382,805
OPERATING PROFIT 5 427,198 1,379,868

Interest receivable and similar income 9,249 261
436,447 1,380,129

Interest payable and similar expenses 6 - 44
PROFIT BEFORE TAXATION 436,447 1,380,085

Tax on profit 7 171,441 280,913
PROFIT FOR THE FINANCIAL YEAR 265,006 1,099,172

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

265,006

1,099,172

Profit attributable to:
Owners of the parent 265,005 1,099,167
Non-controlling interests 1 5
265,006 1,099,172

Total comprehensive income attributable to:
Owners of the parent 265,005 1,099,167
Non-controlling interests 1 5
265,006 1,099,172

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

CONSOLIDATED BALANCE SHEET
31ST DECEMBER 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 1,533,441 1,564,743
Investments 12 - -
1,533,441 1,564,743

CURRENT ASSETS
Stocks 13 1,224,254 1,550,700
Debtors 14 1,700,165 1,299,004
Cash at bank 4,333,717 3,355,344
7,258,136 6,205,048
CREDITORS
Amounts falling due within one year 15 1,839,876 1,292,018
NET CURRENT ASSETS 5,418,260 4,913,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,951,701

6,477,773

PROVISIONS FOR LIABILITIES 18 208,922 -
NET ASSETS 6,742,779 6,477,773

CAPITAL AND RESERVES
Called up share capital 19 2 2
Retained earnings 6,742,747 6,477,742
SHAREHOLDERS' FUNDS 6,742,749 6,477,744

NON-CONTROLLING INTERESTS 30 29
TOTAL EQUITY 6,742,779 6,477,773

The financial statements were approved by the director and authorised for issue on 5th October 2023 and were signed by:





A J Daunt - Director


DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

COMPANY BALANCE SHEET
31ST DECEMBER 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 325,235 325,235
325,235 325,235

CURRENT ASSETS
Cash at bank 701 701

CREDITORS
Amounts falling due within one year 15 323,960 323,960
NET CURRENT LIABILITIES (323,259 ) (323,259 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,976

1,976

CAPITAL AND RESERVES
Called up share capital 19 2 2
Retained earnings 1,974 1,974
SHAREHOLDERS' FUNDS 1,976 1,976

Company's profit for the financial year - -

The financial statements were approved by the director and authorised for issue on 5th October 2023 and were signed by:





A J Daunt - Director


DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2022

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£ £ £ £ £

Balance at 1st January 2021 2 5,378,575 5,378,577 24 5,378,601

Changes in equity
Total comprehensive income - 1,099,167 1,099,167 5 1,099,172
Balance at 31st December 2021 2 6,477,742 6,477,744 29 6,477,773

Changes in equity
Total comprehensive income - 265,005 265,005 1 265,006
Balance at 31st December 2022 2 6,742,747 6,742,749 30 6,742,779

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST DECEMBER 2022

Called up
share Retained Total
capital earnings equity
£ £ £

Balance at 1st January 2021 2 1,974 1,976

Changes in equity
Balance at 31st December 2021 2 1,974 1,976

Changes in equity
Balance at 31st December 2022 2 1,974 1,976

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2022

2022 2021
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,333,683 556,488
Interest paid - (44 )
Tax paid (280,913 ) (97,754 )
Net cash from operating activities 1,052,770 458,690

Cash flows from investing activities
Purchase of tangible fixed assets (83,646 ) (823 )
Interest received 9,249 261
Net cash from investing activities (74,397 ) (562 )

Cash flows from financing activities
Government grants - 382,805
Net cash from financing activities - 382,805

Increase in cash and cash equivalents 978,373 840,933
Cash and cash equivalents at beginning of
year

2

3,355,344

2,514,411

Cash and cash equivalents at end of year 2 4,333,717 3,355,344

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2022


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2022 2021
£ £
Profit before taxation 436,447 1,380,085
Depreciation charges 102,489 111,776
Loss on disposal of fixed assets 12,459 -
Government grants - (382,805 )
Finance costs - 44
Finance income (9,249 ) (261 )
542,146 1,108,839
Decrease in stocks 326,446 137,757
Increase in trade and other debtors (281,161 ) (404,099 )
Increase/(decrease) in trade and other creditors 746,252 (286,009 )
Cash generated from operations 1,333,683 556,488

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2022
31.12.22 1.1.22
£ £
Cash and cash equivalents 4,333,717 3,355,344
Year ended 31st December 2021
31.12.21 1.1.21
£ £
Cash and cash equivalents 3,355,344 2,514,411


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.22 Cash flow At 31.12.22
£ £ £
Net cash
Cash at bank 3,355,344 978,373 4,333,717
3,355,344 978,373 4,333,717
Total 3,355,344 978,373 4,333,717

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022


1. STATUTORY INFORMATION

Daunt Books 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements consolidate the financial statements of Daunt Books Limited and its subsidiary.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill relating to the acquisition of a subsidiary in 1995 has been amortised on a straight line basis over 5 years.

Goodwill relating to the acquisition of a business in 2010 was written off in full in the year of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - see below
Improvements to property - 10% on cost and straight line over the life of the lease
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Freehold property is depreciated over its estimated useful economic life after taking the residual value of the assets into consideration. The directors consider the residual value of the company's freehold property to be in excess of the original cost and consequently no depreciation is provided.

The residual value of the company's assets and whether the value has been impaired are considered by the director on an annual basis.

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


2. ACCOUNTING POLICIES - continued

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

Financial instruments
Financial instruments are classified according to the substance of the financial instrument's contractual obligations, as financial assets, financial liabilities or equity instruments.

Financial instruments are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

Taxation
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.

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 group contributes to personal pension schemes for employees. The assets of the schemes are held independently of the company by an insurance company. The amount charged to the profit and loss account is the contributions payable in the year.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

4. EMPLOYEES AND DIRECTORS
2022 2021
£ £
Wages and salaries 2,681,125 1,624,449
Social security costs 305,321 156,538
Other pension costs 43,067 40,652
3,029,513 1,821,639

The average number of employees during the year was as follows:
2022 2021

Directors 1 1
Management and senior staff 5 4
Retail staff 75 56
81 61

2022 2021
£ £
Director's remuneration - -

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


5. OPERATING PROFIT

The operating profit is stated after charging:

2022 2021
£ £
Other operating leases 940,705 632,125
Depreciation - owned assets 102,489 111,776
Loss on disposal of fixed assets 12,459 -
Auditors' remuneration 18,400 23,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2022 2021
£ £
Interest on overdue tax - 44

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2022 2021
£ £
Current tax:
UK corporation tax 82,519 280,913

Deferred tax 88,922 -
Tax on profit 171,441 280,913

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£ £
Profit before tax 436,447 1,380,085
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2021 - 19 %)

82,925

262,216

Effects of:
Expenses not deductible for tax purposes 2,758 73
Capital allowances in excess of depreciation (3,164 ) -
Depreciation in excess of capital allowances - 18,624
Deferred tax provision 88,922 -
Total tax charge 171,441 280,913

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


8. INDIVIDUAL PROFIT AND LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Profit and Loss Account of the parent company is not presented as part of these financial statements.


9. GOVERNMENT GRANTS

Included within Other Operating Income are amounts the group has recognised as government grants, as follows:
2022 2021
£ £
Coronavirus Job Retention Scheme - 160,082
Retail, Hospitality and Leisure Grant Fund - 222,723
- 382,805

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
COST
At 1st January 2022
and 31st December 2022 86,946
AMORTISATION
At 1st January 2022
and 31st December 2022 86,946
NET BOOK VALUE
At 31st December 2022 -
At 31st December 2021 -

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Improvements and Computer
property to property fittings equipment Totals
£ £ £ £ £
COST
At 1st January 2022 1,018,043 1,592,421 488,044 93,393 3,191,901
Additions - - 77,030 6,616 83,646
Disposals - - (261,439 ) (91,946 ) (353,385 )
At 31st December 2022 1,018,043 1,592,421 303,635 8,063 2,922,162
DEPRECIATION
At 1st January 2022 - 1,073,050 463,124 90,984 1,627,158
Charge for year - 96,624 5,338 527 102,489
Eliminated on disposal - - (250,352 ) (90,574 ) (340,926 )
At 31st December 2022 - 1,169,674 218,110 937 1,388,721
NET BOOK VALUE
At 31st December 2022 1,018,043 422,747 85,525 7,126 1,533,441
At 31st December 2021 1,018,043 519,371 24,920 2,409 1,564,743

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1st January 2022
and 31st December 2022 325,235
NET BOOK VALUE
At 31st December 2022 325,235
At 31st December 2021 325,235

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Travel Buff Limited
Registered office: 83 Marylebone High Street, London, W1U 4QW
Nature of business: Bookseller
%
Class of shares: holding
Ordinary 99.99
Preference 100.00


13. STOCKS

Group
2022 2021
£ £
Finished goods 1,224,254 1,550,700

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2022 2021
£ £
Trade debtors 98,693 64,703
Other debtors 199,425 79,425
VAT 1,148,172 920,775
Prepayments 253,875 234,101
1,700,165 1,299,004

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£ £ £ £
Trade creditors 938,928 571,100 - -
Amounts owed to group undertakings - - 313,335 313,335
Taxation 82,519 280,913 - -
Social security and other taxes 623,311 62,143 - -
Other creditors 138,763 147,476 10,625 10,625
Directors' current accounts 813 813 - -
Accrued expenses 55,542 229,573 - -
1,839,876 1,292,018 323,960 323,960

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
2022 2021
£ £
Within one year 770,550 705,948
Between one and five years 979,971 1,267,854
1,750,521 1,973,802

The operating lease commitments relate to the properties from which the business trades. These operating leases are subject to periodic rent reviews, though break clauses are available as these reviews fall due.

The operating lease commitments shown above are the total amounts payable up to each break clause.

17. FINANCIAL INSTRUMENTS

Categorisation of financial instruments
2022 2021
£ £
Financial assets that are debt instruments measured at amortised cost 4,432,410 3,420,047

Financial liabilities measured at amortised cost 1,133,233 948,149

Financial assets measured at amortised cost comprises cash and trade debtors.

Financial liabilities measured at amortised cost comprises trade creditors, accrued expenses and other creditors.

18. PROVISIONS FOR LIABILITIES

Group
2022 2021
£ £
Deferred taxation movement 88,922 -

Other provisions 120,000 -

Aggregate amounts 208,922 -

DAUNT BOOKS LIMITED (REGISTERED NUMBER: 03068928)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022


18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred tax
£
Provided during year 88,922
Balance at 31st December 2022 88,922

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
2 Ordinary £1 2 2

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Daunt, the director of the company.