Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr J J Bardsley 10/07/2020 Mr M I Newton 02/08/2021 Mr J S Wren 10/07/2020 05 August 2024 The principal activity of the Company during the financial period was that of the provision of marketing solutions and services to publishers. 12735718 2023-12-31 12735718 bus:Director1 2023-12-31 12735718 bus:Director2 2023-12-31 12735718 bus:Director3 2023-12-31 12735718 2022-12-31 12735718 core:CurrentFinancialInstruments 2023-12-31 12735718 core:CurrentFinancialInstruments 2022-12-31 12735718 core:Non-currentFinancialInstruments 2023-12-31 12735718 core:Non-currentFinancialInstruments 2022-12-31 12735718 core:ShareCapital 2023-12-31 12735718 core:ShareCapital 2022-12-31 12735718 core:RetainedEarningsAccumulatedLosses 2023-12-31 12735718 core:RetainedEarningsAccumulatedLosses 2022-12-31 12735718 core:OtherResidualIntangibleAssets 2022-12-31 12735718 core:OtherResidualIntangibleAssets 2023-12-31 12735718 core:ImmediateParent core:Non-currentFinancialInstruments 2023-12-31 12735718 core:ImmediateParent core:Non-currentFinancialInstruments 2022-12-31 12735718 bus:OrdinaryShareClass1 2023-12-31 12735718 2023-01-01 2023-12-31 12735718 bus:FilletedAccounts 2023-01-01 2023-12-31 12735718 bus:SmallEntities 2023-01-01 2023-12-31 12735718 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12735718 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12735718 bus:Director1 2023-01-01 2023-12-31 12735718 bus:Director2 2023-01-01 2023-12-31 12735718 bus:Director3 2023-01-01 2023-12-31 12735718 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-01-01 2023-12-31 12735718 2022-01-01 2022-12-31 12735718 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 12735718 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 12735718 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 12735718 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12735718 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12735718 (England and Wales)

INTERDIRECT MAGAZINES LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

INTERDIRECT MAGAZINES LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

INTERDIRECT MAGAZINES LTD

BALANCE SHEET

As at 31 December 2023
INTERDIRECT MAGAZINES LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 17,979 25,359
17,979 25,359
Current assets
Stocks 4 18,185 15,678
Debtors 5 3,604 1,151
Cash at bank and in hand 3,571 4,341
25,360 21,170
Creditors: amounts falling due within one year 6 ( 24,200) ( 13,408)
Net current assets 1,160 7,762
Total assets less current liabilities 19,139 33,121
Creditors: amounts falling due after more than one year 7 ( 74,098) ( 50,952)
Provision for liabilities ( 4,495) ( 3,644)
Net liabilities ( 59,454) ( 21,475)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 59,554 ) ( 21,575 )
Total shareholder's deficit ( 59,454) ( 21,475)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of InterDirect Magazines Ltd (registered number: 12735718) were approved and authorised for issue by the Board of Directors on 05 August 2024. They were signed on its behalf by:

Mr J J Bardsley
Director
INTERDIRECT MAGAZINES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
INTERDIRECT MAGAZINES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

InterDirect Magazines Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp, Melville Building East, Royal William Yard, Plymouth, Devon, PL1 3GW, United Kingdom. The principal place of business is 6, The Enterprise Centre, Kelvin Lane, Crawley, RH10 9PE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2023 35,648 35,648
Additions 1,600 1,600
At 31 December 2023 37,248 37,248
Accumulated amortisation
At 01 January 2023 10,289 10,289
Charge for the financial year 8,980 8,980
At 31 December 2023 19,269 19,269
Net book value
At 31 December 2023 17,979 17,979
At 31 December 2022 25,359 25,359

4. Stocks

2023 2022
£ £
Stocks 18,185 15,678

5. Debtors

2023 2022
£ £
Trade debtors 962 179
Amounts owed by Group undertakings 0 100
Deferred tax asset 0 139
Other debtors 2,642 733
3,604 1,151

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 7,607 7,508
Amounts owed to Group undertakings 0 4,500
Other creditors 16,593 1,400
24,200 13,408

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to Group undertakings 23,246 0
Amounts owed to Parent undertakings 50,852 50,952
74,098 50,952

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Ultimate controlling party

Parent Company:

InterGo Holdings Limited
C/O Francis Clark Llp, Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.