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Registered number: 06243206
Austin Macauley Publishers Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Nicholas Cliffe & Co. Limited
Mill House Mill Court
Great Shelford
Cambridge
CB22 5LD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06243206
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,348 42,527
26,348 42,527
CURRENT ASSETS
Stocks 5 139,999 142,561
Debtors 6 3,581,374 3,737,958
Cash at bank and in hand 1,388,469 1,399,003
5,109,842 5,279,522
Creditors: Amounts Falling Due Within One Year 7 (2,738,382 ) (2,862,488 )
NET CURRENT ASSETS (LIABILITIES) 2,371,460 2,417,034
TOTAL ASSETS LESS CURRENT LIABILITIES 2,397,808 2,459,561
NET ASSETS 2,397,808 2,459,561
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 2,397,708 2,459,461
SHAREHOLDERS' FUNDS 2,397,808 2,459,561
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammed Bu-Malik
Director
29 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Austin Macauley Publishers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06243206 . The registered office is 37-14D, 1 Canada Square, Canary Wharf, London, E14 5LQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 33.3% straight line
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 52 (2022: 52)
52 52
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2022 6,357 163,579 18,000 25,679
As at 31 August 2023 6,357 163,579 18,000 25,679
Depreciation
As at 1 September 2022 5,169 140,290 6,000 22,932
Provided during the period 525 5,822 6,000 1,823
As at 31 August 2023 5,694 146,112 12,000 24,755
Net Book Value
As at 31 August 2023 663 17,467 6,000 924
As at 1 September 2022 1,188 23,289 12,000 2,747
Computer Equipment Total
£ £
Cost
As at 1 September 2022 32,442 246,057
As at 31 August 2023 32,442 246,057
Depreciation
As at 1 September 2022 29,139 203,530
Provided during the period 2,009 16,179
As at 31 August 2023 31,148 219,709
Net Book Value
As at 31 August 2023 1,294 26,348
As at 1 September 2022 3,303 42,527
5. Stocks
2023 2022
£ £
Finished goods 139,999 142,561
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,687,793 2,893,537
Prepayments and accrued income 3,100 3,100
Other debtors 10,000 10,000
Amounts owed by connected companies 852,696 820,266
VAT 27,785 11,055
3,581,374 3,737,958
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 82,013 137,430
Corporation tax 434,244 510,061
Other taxes and social security 24,670 27,528
Accruals and deferred income 2,197,455 2,187,455
Directors' loan accounts - 14
2,738,382 2,862,488
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5