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REGISTERED NUMBER: SC059686 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Christian Focus Publications Limited

Christian Focus Publications Limited (Registered number: SC059686)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

Christian Focus Publications Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr W H M MacKenzie
Mr H M MacKenzie
Mr K M MacKenzie
Mr W MacKenzie



REGISTERED OFFICE: Geanies House
Tain
Ross-shire
IV201TW



REGISTERED NUMBER: SC059686 (Scotland)



ACCOUNTANTS: Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN



SOLICITORS: Ledingham Chalmers
Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA

Christian Focus Publications Limited (Registered number: SC059686)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 408,653 342,292
Tangible assets 5 395,842 392,853
804,495 735,145

CURRENT ASSETS
Stocks 1,445,749 1,581,594
Debtors 6 834,495 535,656
Prepayments and accrued income 13,864 6,240
Cash at bank 114,082 126,130
2,408,190 2,249,620
CREDITORS
Amounts falling due within one year 7 837,421 564,281
NET CURRENT ASSETS 1,570,769 1,685,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,375,264

2,420,484

PROVISIONS FOR LIABILITIES 15,178 12,945
NET ASSETS 2,360,086 2,407,539

CAPITAL AND RESERVES
Called up share capital 8 1,449,535 1,449,535
Share premium 9 130,000 130,000
Capital redemption reserve 9 5,635 5,635
Retained earnings 9 774,916 822,369
SHAREHOLDERS' FUNDS 2,360,086 2,407,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Christian Focus Publications Limited (Registered number: SC059686)

Balance Sheet - continued
31 December 2023


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 1 August 2024 and were signed on its behalf by:





Mr W MacKenzie - Director


Christian Focus Publications Limited (Registered number: SC059686)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Christian Focus Publications Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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


Monetary amount in these financial statements are rounded to the nearest pound sterling.

The company is 87.67% owned by Balintore Target Limited, located at Geanies House, Tain.

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.

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

The turnover shown in the profit and loss account represents amounts invoiced during the year, in relation to the printing and publication of Christian books and booklets, exclusive of Value Added Tax.

Intangible fixed assets
Intangible Assets represent the Origination cost of the artwork, typesetting, colour separation, duplicate film and design of the titles produced by the company. It also includes the cost of preparing books for electronic publication. The list of titles included in the value of Origination is reviewed annually and where a title is not expected to be re-printed the remaining value is written down to a nominal value of £200.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

19% Reducing balance to residual balance of £200

Tangible fixed assets
Freehold Buildings are depreciated at 1% Straight Line

Property Improvements are depreciated at 4% and 10% Straight Line

Plant and Machinery is depreciated at 10% Straight Line to £50

Office Equipment is depreciated at 25 % Straight Line to £100

Motor Vehicles is depreciated at 40% Reducing Balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Christian Focus Publications Limited (Registered number: SC059686)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 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.

Sales
Some sales are made on a "Sale or Return" basis. At the end of the period such sales are reviewed and where appropriate a provision made for potential returns.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

Christian Focus Publications Limited (Registered number: SC059686)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023 582,662
Additions 159,973
Disposals (126 )
At 31 December 2023 742,509
AMORTISATION
At 1 January 2023 240,370
Amortisation for year 93,486
At 31 December 2023 333,856
NET BOOK VALUE
At 31 December 2023 408,653
At 31 December 2022 342,292

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 300,000 90,464 160,843 750 552,057
Additions - 17,385 2,585 600 20,570
At 31 December 2023 300,000 107,849 163,428 1,350 572,627
DEPRECIATION
At 1 January 2023 16,500 12,435 129,600 669 159,204
Charge for year 3,000 7,826 6,703 52 17,581
At 31 December 2023 19,500 20,261 136,303 721 176,785
NET BOOK VALUE
At 31 December 2023 280,500 87,588 27,125 629 395,842
At 31 December 2022 283,500 78,029 31,243 81 392,853

The net book value of tangible fixed assets includes £NIL (2022 - £ 2,039 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 810,815 524,091
Other debtors 23,680 11,565
834,495 535,656

Christian Focus Publications Limited (Registered number: SC059686)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 426
Trade creditors 325,169 231,932
Amounts owed to group undertakings 153,545 158
Taxation and social security 26,097 40,504
Other creditors 332,610 291,261
837,421 564,281

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,270,865 A Ordinary £1 1,270,865 1,270,865
29,779 WA Ordinary £1 29,779 29,779
29,778 WB Ordinary £1 29,778 29,778
29,779 HA Ordinary £1 29,779 29,779
29,778 HB Ordinary £1 29,778 29,778
29,778 FA Ordinary £1 29,778 29,778
29,778 FB Ordinary £1 29,778 29,778
1,449,535 1,449,535

9. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 822,369 130,000 5,635 958,004
Profit for the year 50,047 50,047
Dividends (97,500 ) (97,500 )
At 31 December 2023 774,916 130,000 5,635 910,551

10. PENSION COMMITMENTS

The company operates a defined pension contribution scheme on behalf of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The commitment under this scheme based on a percentage of salary of certain employees is for contributions of £13,920 (2022: £10,976). Included in Creditors are contributions amounting to £2,759 (2022: £2,159) which are due to be paid to the pension company.

Christian Focus Publications Limited (Registered number: SC059686)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

The company is 87.67% controlled by Balintore Target Limited, a company in which K M MacKenzie and W MacKenzie are directors. It is considered that the directors have control of the company.

At the end of the period the company owed £153,545 (2022: £31) to Balintore Target Limited. Trade with Balintore Target Limited includes management charges payable of £120,000 (2022: £125,000)
The directors, H M MacKenzie and W H MacKenzie are partners of Balintore Farms. Trade with Balintore Farms includes management charges payable of £46,000 (2022: £46,000), rent payable of £20,000 (2022: £20,000), insurance and sundry recharges payable of £5,305 (2022: £4,316), and sundry recharges receivable of £1,020 (2022: £nil).

The net amounts due to Related Parties were as follows;
End of period - £110,382
Start of period - £109,573

12. ULTIMATE CONTROLLING PARTY

The controlling party is Balintore Target Limited.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Christian Focus Publications Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Christian Focus Publications Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Christian Focus Publications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Christian Focus Publications Limited and state those matters that we have agreed to state to the Board of Directors of Christian Focus Publications Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Christian Focus Publications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Christian Focus Publications Limited. You consider that Christian Focus Publications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Christian Focus Publications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN


5 August 2024