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REGISTERED NUMBER: 01022165 (England and Wales)















PETER PRESS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


PETER PRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P G Fowler
R J Fowler



REGISTERED OFFICE: Chilworth Point
1 Chilworth Road
Southampton
Hampshire
SO16 7JQ



REGISTERED NUMBER: 01022165 (England and Wales)



ACCOUNTANTS: Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR



BANKERS: HSBC Bank plc
36 Fore Street
Hertford
Hertfordshire
SG14 1BS

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PETER PRESS 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 Peter Press Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Peter Press 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 Peter Press Limited and state those matters that we have agreed to state to the Board of Directors of Peter Press Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Press Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peter Press 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 loss of Peter Press Limited. You consider that Peter Press 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 Peter 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 statutory financial statements.






Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


12 September 2024

PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 27,973 31,201
Investments 6 978,339 1,192,588
1,006,312 1,223,789

CURRENT ASSETS
Stocks 15,681 16,631
Debtors 7 3,013,322 3,062,009
Cash at bank 618,638 462,824
3,647,641 3,541,464
CREDITORS
Amounts falling due within one year 8 44,267 60,292
NET CURRENT ASSETS 3,603,374 3,481,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,609,686

4,704,961

PENSION LIABILITY (32,848 ) (6,848 )
NET ASSETS 4,576,838 4,698,113

CAPITAL AND RESERVES
Called up share capital 83,000 83,000
Capital redemption reserve 1,357,000 1,357,000
Capital reserve 14,822 14,822
Retained earnings 3,122,016 3,243,291
SHAREHOLDERS' FUNDS 4,576,838 4,698,113

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.

PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

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 12 September 2024 and were signed on its behalf by:





P G Fowler - Director


PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Peter Press Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01022165 and the registered office is 1st Floor Chilworth Point, Chilworth Road, Southampton, England, SO16 7JQ.

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.

The presentation currency is £ sterling.

Going concern
The company's forecasts and projections, taking account of reasonably expected changes in future performance, show that it should be able to operate within its available funds. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reports for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of assets
Management use their judgement to determine if there are any indicators of impairment.


Other key sources of estimation uncertainty;

Pension assumptions



The calculation of the pension liability is determined using actuarial assumptions. The actuarial
valuation involves making assumptions about discount rates, mortality rates and future pension
increases. Due to the complexity of the valuation, the underlying assumptions and the long term nature
of these plans, such estimates are subject to significant uncertainty.

Turnover
Turnover represents net sales during the year (excluding Value Added Tax) adjusted for accrued and deferred income where applicable.

All turnover arises in the United Kingdom.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of tangible fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Plant and machinery25% reducing balance
Office equipment10% reducing balance
Fixtures and fittings10% reducing balance
Motor vehicles25% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Stock and work in progress
Stocks are valued at the lower of cost and net realisable value.

Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using tax rates and laws that been enacted or substantively enacted at the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax with the following exception:

- deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Pension costs and other post-retirement benefits
The company accounts for its defined benefit pension scheme in accordance with FRS102.

The pension scheme liabilities are measured using a projected units method. The pension scheme deficit/surplus is recognised in full and disclosed on the face of the balance sheet. The movement in the scheme deficit/surplus is split between operating profit and finance costs/finance income in the income statement and the statement of other comprehensive income.

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.

Other investments
Other investments are initially accounted for at cost and reviewed annually for impairment.

PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Finance costs
Finance costs are charged to profit and loss over the term of the debt using the effective interest rate 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.

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 25,500
AMORTISATION
At 1 January 2023
and 31 December 2023 25,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures,
plant &
vehicles
£
COST
At 1 January 2023 394,433
Additions 622
Disposals (22,907 )
At 31 December 2023 372,148
DEPRECIATION
At 1 January 2023 363,232
Charge for year 3,850
Eliminated on disposal (22,907 )
At 31 December 2023 344,175
NET BOOK VALUE
At 31 December 2023 27,973
At 31 December 2022 31,201

PETER PRESS LIMITED (REGISTERED NUMBER: 01022165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 January 2023 1,192,588
Additions 5,751
Impairments (220,000 )
At 31 December 2023 978,339
NET BOOK VALUE
At 31 December 2023 978,339
At 31 December 2022 1,192,588

7. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Amounts owed by associates 450,205 449,563
Other debtors 4,122 2,742
Directors' current accounts - 67,875
Prepayments and accrued income 58,995 41,829
513,322 562,009

Amounts falling due after more than one year:
Loan notes 2,500,000 2,500,000

Aggregate amounts 3,013,322 3,062,009

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 2,335 156
Social security and other taxes 25 25
Directors' current accounts 12,798 -
Accruals and deferred income 29,109 60,111
44,267 60,292

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In previous years, the company made a loan to Mr P G Fowler which was repaid during the year. There were various transfers to and from the company during the year which resulted in a balance owing from Peter Press Limited to Mr P G Fowler of £12,798. Interest has been charged on the loan at the official rate set by HMRC.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P G Fowler.