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Registration number: 09659982

Waters Edge Publications Limited

trading as Little Egret Press

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Waters Edge Publications Limited

trading as Little Egret Press

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Waters Edge Publications Limited

trading as Little Egret Press

Company Information

Director

W Cryer

Registered office

21A Newland
Lincoln
LN1 1XP

Bankers

NatWest Bank
1 Market Place
Nuneaton
Warwickshire
CV11 4YY

Accountants

Atkinson Saul Fairholm Limited
Chartered Accountants
21A Newland
Lincoln
LN1 1XP

 

Waters Edge Publications Limited

trading as Little Egret Press

(Registration number: 09659982)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

5,504

6,881

Current assets

 

Stocks

6

15,399

14,702

Debtors

7

239

331

Cash at bank and in hand

 

25,608

7,893

 

41,246

22,926

Creditors: Amounts falling due within one year

8

(26,618)

(16,939)

Net current assets

 

14,628

5,987

Total assets less current liabilities

 

20,132

12,868

Provisions for liabilities

(659)

(824)

Net assets

 

19,473

12,044

Capital and reserves

 

Called up share capital

100

100

Retained earnings

19,373

11,944

Shareholders' funds

 

19,473

12,044

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 November 2023
 

.........................................
W Cryer
Director

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21A Newland
Lincoln
LN1 1XP

The principal place of business is:
4 Kings Meadow
Nuneaton
Warwickshire
CV10 8QZ

These financial statements were authorised for issue by the director on 17 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Office building

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability are charged as interest expense in the profit and loss account.
 

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors with contracts of employment) during the year was 1 (2022 - 0).

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

6,000

6,000

At 30 June 2023

6,000

6,000

Amortisation

At 1 July 2022

6,000

6,000

At 30 June 2023

6,000

6,000

Carrying amount

At 30 June 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

6,217

9,134

15,351

At 30 June 2023

6,217

9,134

15,351

Depreciation

At 1 July 2022

3,671

4,799

8,470

Charge for the year

509

868

1,377

At 30 June 2023

4,180

5,667

9,847

Carrying amount

At 30 June 2023

2,037

3,467

5,504

At 30 June 2022

2,546

4,335

6,881

Included within the net book value of land and buildings above is £2,037 (2022 - £2,546) in respect of long leasehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

15,399

14,702

 

Waters Edge Publications Limited

trading as Little Egret Press

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Debtors

2023
£

2022
£

Other debtors

239

331

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

3,725

347

Taxation and social security

 

2,965

762

Other creditors

 

19,928

15,830

 

26,618

16,939