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Registration number: 03248569

Impress Publishing Group Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

(filleted for filing purposes)

 

Impress Publishing Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Impress Publishing Group Limited

Company Information

Directors

Mr Richard Parsons

Mr Jarle Stephen Ronald Tatt

Mrs Diane Christine Tatt

Company secretary

Mrs Diane Christine Tatt

Registered office

Appledown House
Barton Business Park
Canterbury
Kent
CT1 3TE

Auditors

Batchelor Coop Ltd
Registered Auditors
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Impress Publishing Group Limited

(Registration number: 03248569)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

181,689

191,783

Investments

5

230,101

230,101

 

411,790

421,884

Current assets

 

Debtors

6

347,334

463,109

Cash at bank and in hand

 

113,891

105,748

 

461,225

568,857

Creditors: Amounts falling due within one year

7

(13,249)

(28,846)

Net current assets

 

447,976

540,011

Net assets

 

859,766

961,895

Capital and reserves

 

Called up share capital

8

30,005

30,005

Capital redemption reserve

295,000

295,000

Retained earnings

534,761

636,890

Shareholders' funds

 

859,766

961,895

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 Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Mr Richard Parsons
Director

.........................................
Mr Jarle Stephen Ronald Tatt
Director

 

Impress Publishing Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Appledown House
Barton Business Park
Canterbury
Kent
CT1 3TE

These financial statements were authorised for issue by the Board on 16 September 2024.

2

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 United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 16 September 2024 was Mark Batchelor BSc FCA, who signed for and on behalf of Batchelor Coop Ltd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Impress Publishing Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 Corporation 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight line over 25 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 amortised cost using the effective interest method, 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.

 

Impress Publishing Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

252,347

252,347

At 31 December 2023

252,347

252,347

Depreciation

At 1 January 2023

60,564

60,564

Charge for the year

10,094

10,094

At 31 December 2023

70,658

70,658

Carrying amount

At 31 December 2023

181,689

181,689

At 31 December 2022

191,783

191,783

Included within the net book value of land and buildings above is £181,689 (2022 - £191,783) in respect of freehold land and buildings.
 

 

Impress Publishing Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

230,101

230,101

Subsidiaries

£

Cost or valuation

At 1 January 2023

230,101

Provision

Carrying amount

At 31 December 2023

230,101

At 31 December 2022

230,101

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

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Greetings Cards by Noel Tatt Limited

England

Ordinary £1 Shares

100%

100%

Greetings Cards by Noel Tatt Limited

England

Non redeemable £1 preference shares

100%

100%

Impress Publishing Limited

England

Ordinary £1 Shares

100%

100%

Subsidiary undertakings

Greetings Cards by Noel Tatt Limited

The principal activity of Greetings Cards by Noel Tatt Limited is the publishing of greetings cards.

Impress Publishing Limited

The principal activity of Impress Publishing Limited is the publishing of charity greetings cards.

 

Impress Publishing Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

180,222

257,499

Amounts owed by related parties

166,000

205,000

Prepayments

 

363

610

Other debtors

 

749

-

   

347,334

463,109

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

4,496

4,561

Other creditors

 

8,753

24,285

 

13,249

28,846

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

30,005

30,005

30,005

30,005