Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falsePublishing of books54true 02748979 2023-01-01 2023-12-31 02748979 2022-01-01 2022-12-31 02748979 2023-12-31 02748979 2022-12-31 02748979 c:Director1 2023-01-01 2023-12-31 02748979 d:Buildings 2023-01-01 2023-12-31 02748979 d:Buildings 2023-12-31 02748979 d:Buildings 2022-12-31 02748979 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02748979 d:MotorVehicles 2023-01-01 2023-12-31 02748979 d:MotorVehicles 2023-12-31 02748979 d:MotorVehicles 2022-12-31 02748979 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02748979 d:FurnitureFittings 2023-01-01 2023-12-31 02748979 d:FurnitureFittings 2023-12-31 02748979 d:FurnitureFittings 2022-12-31 02748979 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02748979 d:OfficeEquipment 2023-01-01 2023-12-31 02748979 d:OfficeEquipment 2023-12-31 02748979 d:OfficeEquipment 2022-12-31 02748979 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02748979 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02748979 d:CurrentFinancialInstruments 2023-12-31 02748979 d:CurrentFinancialInstruments 2022-12-31 02748979 d:Non-currentFinancialInstruments 2023-12-31 02748979 d:Non-currentFinancialInstruments 2022-12-31 02748979 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02748979 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02748979 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02748979 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02748979 d:ShareCapital 2023-12-31 02748979 d:ShareCapital 2022-12-31 02748979 d:RetainedEarningsAccumulatedLosses 2023-12-31 02748979 d:RetainedEarningsAccumulatedLosses 2022-12-31 02748979 c:FRS102 2023-01-01 2023-12-31 02748979 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02748979 c:FullAccounts 2023-01-01 2023-12-31 02748979 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02748979 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 02748979 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 02748979 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 02748979 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 02748979 2 2023-01-01 2023-12-31 02748979 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02748979










THE NAVAL AND MILITARY PRESS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE NAVAL AND MILITARY PRESS LIMITED
REGISTERED NUMBER: 02748979

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
124,219
194,401

  
124,219
194,401

Current assets
  

Stocks
  
62,967
52,410

Debtors: amounts falling due within one year
 5 
297,051
289,666

Cash at bank and in hand
 6 
64,390
23,804

  
424,408
365,880

Creditors: amounts falling due within one year
 7 
(70,323)
(64,825)

Net current assets
  
 
 
354,085
 
 
301,055

Total assets less current liabilities
  
478,304
495,456

Creditors: amounts falling due after more than one year
  
(33,486)
-

  

Net assets
  
444,818
495,456


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
444,718
495,356

  
444,818
495,456


Page 1

 
THE NAVAL AND MILITARY PRESS LIMITED
REGISTERED NUMBER: 02748979
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G Buckland
Director

Date: 20 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Naval and Military Press Limited (02748979)  is a private company limited by shares and incorporated in England and Wales. The regsitered office is Unit 5, Riverside Brambleside, Bellbrook Industrial Estate, Uckfield, TN22 1QQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Freehold property
-
25% reducing balance
Motor vehicles
-
20% straight line
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks and work in progress are stated at the lower of cost and net realisable value, based on the cost of purchase. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less the costs to complete and sell. The impairment loss is recognised immediately in profit or loss

Page 4

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


 

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

 

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 4).

Page 6

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 1 January 2023
202,181
-
34,876
38,264
275,321


Additions
-
104,995
-
318
105,313


Disposals
(164,421)
-
-
-
(164,421)



At 31 December 2023

37,760
104,995
34,876
38,582
216,213



Depreciation


At 1 January 2023
21,830
-
25,802
33,287
80,919


Charge for the year on owned assets
3,982
3,500
2,269
1,324
11,075



At 31 December 2023

25,812
3,500
28,071
34,611
91,994



Net book value



At 31 December 2023
11,948
101,495
6,805
3,971
124,219



At 31 December 2022
180,351
-
9,074
4,977
194,402


5.


Debtors

2023
2022
£
£


Trade debtors
556
342

Amounts owed by group undertakings
23,510
16,032

Other debtors
272,985
273,292

297,051
289,666



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
64,390
23,804


Page 7

 
THE NAVAL AND MILITARY PRESS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
29,145
42,123

Corporation tax
-
17,155

Obligations under finance lease and hire purchase contracts
15,305
-

Other creditors
22,358
-

Accruals and deferred income
3,515
5,547

70,323
64,825



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
33,486
-



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
15,305
-

Between 1-5 years
33,486
-

48,791
-


10.


Related party transactions

Included within other debtors is £23,510 (2022: £16,032) due to a company under common control. This is amount in interest fee and repayable upon demand.
Included within other debtors is £256,245 (2022: £245,344) due to a company under common control. This is amount in interest fee and repayable upon demand.

 
Page 8