Registrar
Registration number:
Anness Publishing Limited
for the Year Ended 31 January 2024
Anness Publishing Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Anness Publishing Limited
Company Information
Directors |
P L Anness J Lorenz B J Worley H Sudell |
Company secretary |
J Lorenz |
Registered office |
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Bankers |
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Accountants |
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Anness Publishing Limited
(Registration number: 02375310)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Revaluation reserve |
- |
295,810 |
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Other reserves |
- |
402,751 |
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Retained earnings |
8,691,158 |
8,692,646 |
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Shareholders' funds |
8,692,158 |
9,392,207 |
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is: Algores Way, Wisbech, Cambs, PE13 2TQ.
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis, which the directors consider appropriate based on their review of the business for the foreseeable future, the company's strong balance sheet and its available cash reserves.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods.
Foreign currency transactions and balances
Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Tax
Current Tax is recognised in the profit and loss account, 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
25-50% straight line |
Computer and office equipment |
25-50% straight line |
Motor vehicles |
20% straight line |
Freehold land |
No depreciation is charged on freehold land |
Biological assets
The biological asset is measured at fair value less costs to sell at each reporting date. The biological asset relates to growing timber in a woodland owned by the company. The fair value has been computed using known revenues per acre of cropped land, less the expected costs of maintaining the trees, harvesting and selling costs.
Goodwill
Intangible assets consist of goodwill on acquisitions and represent the difference between the purchase price and fair value of the net assets at acquisition.
Positive goodwill is capitalised, classified as an asset on the balance sheet and is amortised over its useful economic life. Positive goodwill is reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
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 |
Positive goodwill |
Straight line over 3 years |
Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value. The carrying value of fixed asset investments are reviewed for impairment if events or changes in circumstances indicate the carrying value may be impaired.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
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 transaction price 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
Published books are stated at the lower of cost and net realisable value.
Historically work in progress included all external costs of bringing a new book to publication. In the year of acquisition 35% of the cost was taken to the profit and loss account. The remaining 65% of the cost was capitalised and amortised over 7 years, the period of expected revenue generation. The amortisation is charged 73% over 4 years, with 9% per year in the final 3 years.
The market has changed and consequently the directors now consider it appropriate to expense all costs associated with book production during the year they are incurred. As a result no work in progress is recognised as at 31 January 2024.
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 at the transaction price.
Share capital
Ordinary shares are classified as equity.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due.
Copyrights
The company owns copyrights to its titles. To comply with applicable accounting standards, no valuation has been given to these rights.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 February 2023 |
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At 31 January 2024 |
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Amortisation |
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At 1 February 2023 |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
- |
- |
Tangible assets |
Land and buildings |
Computer and office equipment |
Biological assets |
Fixtures, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2023 |
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Additions |
- |
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- |
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Disposals |
( |
- |
( |
- |
( |
At 31 January 2024 |
- |
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- |
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Depreciation |
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At 1 February 2023 |
- |
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- |
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Charge for the year |
- |
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- |
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At 31 January 2024 |
- |
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- |
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Carrying amount |
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At 31 January 2024 |
- |
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- |
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At 31 January 2023 |
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Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Investments |
Subsidiaries |
£ |
Cost or valuation |
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At 1 February 2023 |
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Disposals |
( |
At 31 January 2024 |
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Provision |
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At 1 February 2023 |
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Disposal |
( |
At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
- |
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Book Trade Services Limited is a dormant company.
Copyrights |
The company has invested in new book titles over many years. If there were to be a sale of the copyright, or if FRS 102 Section 1A did not prohibit the recognition of internally generated copyright on the balance sheet, the directors consider that the total creative investment since 1997 would be in excess of £35m.
Stocks |
2024 |
2023 |
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Work in progress |
- |
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Finished goods and goods for resale |
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Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Directors loan |
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Prepayments |
- |
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Other debtors |
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In addition to the deferred tax asset above there is an unprovided deferred tax asset amounting to £751,839 (2024) and £666,071 (2023).
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
- |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
Anness Publishing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Related party transactions |
Transactions with directors |
2024 |
At 1 February 2023 |
Advances to director |
Repayments by director |
At 31 January 2024 |
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( |
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2023 |
At 1 February 2022 |
Advances to director |
At 31 January 2023 |
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