Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03606414 Mrs C Hawser Mr A Hawser Mr P Schmitt Mr A Hawser iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03606414 2022-12-31 03606414 2023-12-31 03606414 2023-01-01 2023-12-31 03606414 frs-core:CurrentFinancialInstruments 2023-12-31 03606414 frs-core:Non-currentFinancialInstruments 2023-12-31 03606414 frs-core:ComputerEquipment 2023-12-31 03606414 frs-core:ComputerEquipment 2023-01-01 2023-12-31 03606414 frs-core:ComputerEquipment 2022-12-31 03606414 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 03606414 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 03606414 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 03606414 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 03606414 frs-core:OtherResidualIntangibleAssets 2023-12-31 03606414 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03606414 frs-core:OtherResidualIntangibleAssets 2022-12-31 03606414 frs-core:ShareCapital 2023-12-31 03606414 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03606414 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03606414 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03606414 frs-bus:SmallEntities 2023-01-01 2023-12-31 03606414 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03606414 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03606414 frs-core:ListedExchangeTraded 2023-12-31 03606414 frs-core:ListedExchangeTraded 2022-12-31 03606414 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 03606414 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2023-12-31 03606414 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 03606414 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 03606414 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 03606414 frs-bus:Director1 2023-01-01 2023-12-31 03606414 frs-bus:Director2 2023-01-01 2023-12-31 03606414 frs-bus:Director3 2023-01-01 2023-12-31 03606414 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 03606414 frs-countries:EnglandWales 2023-01-01 2023-12-31 03606414 2021-12-31 03606414 2022-12-31 03606414 2022-01-01 2022-12-31 03606414 frs-core:CurrentFinancialInstruments 2022-12-31 03606414 frs-core:Non-currentFinancialInstruments 2022-12-31 03606414 frs-core:ShareCapital 2022-12-31 03606414 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03606414
Union Press Limited
Financial Statements
For The Year Ended 31 December 2023
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Directors Mrs C Hawser
Mr A Hawser
Mr P Schmitt
Secretary Mr A Hawser
Company Number 03606414
Registered Office 69 Southwark Bridge Road
4th Floor Wigglesworth House
SE1 9HH
Accountants BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Page 1
Page 2
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Union Press Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Union Press Limited for the year ended 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Union Press Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Union Press Limited and state those matters that we have agreed to state to the directors of Union Press Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Union Press Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Union Press Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Union Press Limited . You consider that Union Press Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Union Press 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 financial statements.
Signed
Mr A Hawser
06/09/2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Page 2
Page 3
Statement of Financial Position
Registered number: 03606414
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,436 31,165
Tangible Assets 5 26,752 28,401
Investments 6 969,666 709,666
1,026,854 769,232
CURRENT ASSETS
Debtors 7 987,843 1,060,217
Cash at bank and in hand 136,613 116,668
1,124,456 1,176,885
Creditors: Amounts Falling Due Within One Year 8 (1,241,460 ) (919,314 )
NET CURRENT ASSETS (LIABILITIES) (117,004 ) 257,571
TOTAL ASSETS LESS CURRENT LIABILITIES 909,850 1,026,803
Creditors: Amounts Falling Due After More Than One Year 9 (182,832 ) (136,667 )
NET ASSETS 727,018 890,136
CAPITAL AND RESERVES
Called up share capital 10 426,234 426,234
Income Statement 300,784 463,902
SHAREHOLDERS' FUNDS 727,018 890,136
Page 3
Page 4
For the 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.
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 Income Statement.
On behalf of the board
Mr A Hawser
Director
06/09/2024
The notes on pages 5 to 8 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Union Press Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03606414 . The registered office is 69 Southwark Bridge Road, 4th Floor Wigglesworth House, SE1 9HH.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to income statement over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the income statement over its estimated economic life of .... years.
2.5. 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:
Computer Equipment 20%
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Page 6
2.7. 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.
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: 35 (2022: 33)
35 33
4. Intangible Assets
Other Intellectual Property Total
£ £ £
Cost
As at 1 January 2023 23,877 23,711 47,588
As at 31 December 2023 23,877 23,711 47,588
Amortisation
As at 1 January 2023 - 16,423 16,423
Provided during the period - 729 729
As at 31 December 2023 - 17,152 17,152
Net Book Value
As at 31 December 2023 23,877 6,559 30,436
As at 1 January 2023 23,877 7,288 31,165
Page 6
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 189,403
Additions 5,039
As at 31 December 2023 194,442
Depreciation
As at 1 January 2023 161,002
Provided during the period 6,688
As at 31 December 2023 167,690
Net Book Value
As at 31 December 2023 26,752
As at 1 January 2023 28,401
6. Investments
Listed
£
Cost
As at 1 January 2023 709,666
Additions 260,000
As at 31 December 2023 969,666
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 969,666
As at 1 January 2023 709,666
Page 7
Page 8
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 519,083 561,376
Amounts owed by group undertakings 378,273 377,893
Amounts owed by participating interests 400 -
Other debtors 90,087 120,948
987,843 1,060,217
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 194,712 381,245
Bank loans and overdrafts 113,856 -
Amounts owed to participating interests 388,033 331,388
Other creditors 380,471 15,694
Taxation and social security 164,388 190,987
1,241,460 919,314
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Funding Circle Loan 86,165 -
HSBC New loan 96,667 136,667
182,832 136,667
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 426,234 426,234
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 8