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REGISTERED NUMBER: 01715990 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Postscript Books Ltd

Postscript Books Ltd (Registered number: 01715990)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Postscript Books Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W B Boyce
H P Collie
R Stewart
Dr D A Collie
M S Wicks





REGISTERED OFFICE: 6 Battle Road
Heathfield Estate
Newton Abbot
Devon
TQ12 6RY





REGISTERED NUMBER: 01715990 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Postscript Books Ltd (Registered number: 01715990)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 119,484 155,594
Tangible assets 5 111,181 134,242
230,665 289,836

CURRENT ASSETS
Stocks 1,294,005 1,490,681
Debtors 6 226,903 337,177
Cash at bank 207,838 76,010
1,728,746 1,903,868
CREDITORS
Amounts falling due within one year 7 1,305,356 1,369,924
NET CURRENT ASSETS 423,390 533,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,055

823,780

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital redemption reserve 150 150
Retained earnings 652,905 822,630
654,055 823,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





R Stewart - Director


Postscript Books Ltd (Registered number: 01715990)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Postscript Books 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.

Preparation of consolidated financial statements
The financial statements contain information about Postscript Books Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has not prepared consolidated financial statements as the subsidiary is currently dormant.

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

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.

Website Development costs are amortised evenly over their estimated useful life of 3 and 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Leasehold improvements are depreciated over the lease term.

Tangible fixed assets are stated at cost.

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
i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

ii) Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Postscript Books Ltd (Registered number: 01715990)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing commitments
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Critical accounting policies and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities within the next financial year are addressed below:

i) Stock provision
The company publishes, sells and distributes books and is subject to changing consumer demands. As a result it is necessary to consider the realisable value of stock and whether a provision is required. When calculating the stock provision, management consider the age of stock held and write off a proportion of the value where stock exceeds 24 months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 65 ) .

Postscript Books Ltd (Registered number: 01715990)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 190,523
Additions 2,244
At 30 April 2024 192,767
AMORTISATION
At 1 May 2023 34,929
Charge for year 38,354
At 30 April 2024 73,283
NET BOOK VALUE
At 30 April 2024 119,484
At 30 April 2023 155,594

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 998,493
Additions 16,824
Disposals (24,112 )
At 30 April 2024 991,205
DEPRECIATION
At 1 May 2023 864,251
Charge for year 39,885
Eliminated on disposal (24,112 )
At 30 April 2024 880,024
NET BOOK VALUE
At 30 April 2024 111,181
At 30 April 2023 134,242

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 353 2,740
VAT 37,048 46,934
Other debtors 48,772 46,689
Tax - 18,151
Prepayments 140,730 222,663
226,903 337,177

Postscript Books Ltd (Registered number: 01715990)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 562,652 725,460
Social security and other taxes 46,105 48,806
Other creditors 1,714 989
Directors' current accounts 396,413 271,413
Accrued expenses 298,472 323,256
1,305,356 1,369,924

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 201,400 201,400
Between one and five years 402,799 604,199
604,199 805,599