Company registration number 06019186 (England and Wales)
EVERNOW PUBLISHING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
EVERNOW PUBLISHING LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
EVERNOW PUBLISHING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,712
3,520
Current assets
Debtors
5
1,206
526
Cash at bank and in hand
1,936
2,033
3,142
2,559
Creditors: amounts falling due within one year
6
(71,104)
(60,413)
Net current liabilities
(67,962)
(57,854)
Net liabilities
(65,250)
(54,334)
Capital and reserves
Called up share capital
7
124,439
124,439
Profit and loss reserves
(189,689)
(178,773)
Total equity
(65,250)
(54,334)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 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.
The 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 6 November 2023 and are signed on its behalf by:
Mrs V E Ellington
Director
Company registration number 06019186 (England and Wales)
EVERNOW PUBLISHING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2021
124,439
(168,904)
(44,465)
Year ended 31 December 2021:
Loss and total comprehensive income
-
(9,869)
(9,869)
Balance at 31 December 2021
124,439
(178,773)
(54,334)
Year ended 31 December 2022:
Loss and total comprehensive income
-
(10,916)
(10,916)
Balance at 31 December 2022
124,439
(189,689)
(65,250)
EVERNOW PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Evernow Publishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 264 Banbury Road, Oxford, Oxfordshire, OX2 7DY.
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 amounts 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 accounts have been drawn up on the going concern basis. The directors have stated that they will not require repayment of the loans (owed to them) until finances permit and will continue to support the company for at least the next twelve months.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Website
20% straight line
Trademark
10% straight line
1.5
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:
Computer equipment
33% straight line
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.
EVERNOW PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Intangible fixed assets
Website
Trademark
Total
£
£
£
Cost
At 1 January 2022 and 31 December 2022
1,500
8,078
9,578
Amortisation and impairment
At 1 January 2022
1,500
4,558
6,058
Amortisation charged for the year
808
808
At 31 December 2022
1,500
5,366
6,866
Carrying amount
At 31 December 2022
2,712
2,712
At 31 December 2021
3,520
3,520
EVERNOW PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
8,883
Depreciation and impairment
At 1 January 2022 and 31 December 2022
8,883
Carrying amount
At 31 December 2022
At 31 December 2021
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
611
Other debtors
595
526
1,206
526
6
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
69,304
58,613
Accruals and deferred income
1,800
1,800
71,104
60,413
7
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
124,439
124,439
EVERNOW PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
8
Related party transactions
The following loans are included in other creditors, interest is accruing on the capital element of these loans:
2022
2021
£
£
Creditors less than one year
Director and shareholder
17,097
17,097
Shareholder
52,207
41,516