Company No:
Contents
DIRECTOR | A Freudenheim |
REGISTERED OFFICE | Somerset House |
Strand | |
London | |
WC2R 1LA | |
United Kingdom |
COMPANY NUMBER | 03052719 (England and Wales) |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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218,521 | 188,076 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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2,758,278 | 1,678,147 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (911,651) | (1,525,483) | ||
Total assets less current liabilities | (693,130) | (1,337,407) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Pushkin Press Limited (registered number:
A Freudenheim
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Pushkin Press Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Somerset House, Strand, London, WC2R 1LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In the opinion of the director, the going concern basis is appropriate due to the continuing financial support of the parent company, Arboreal Holdings Limited. Arboreal Holdings Limited has confirmed that it will provide financial support for at least twelve months from the date of the approval of the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer, which is generally when the goods are dispatched to customers. Bookclub membership fees are recognised in the period to which they relate.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Grant income is recognised in the profit and loss in the same period in which the related expense is incurred.
Plant and machinery |
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Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investments in subsidiaries are measured at cost less impairment
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 deducting all of its liabilities.
Rental payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2023 |
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Additions |
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At 31 December 2023 |
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Accumulated depreciation | |||||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||||
At 31 December 2023 |
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At 31 December 2022 |
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Investments in subsidiaries
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Cost | |
At 01 January 2023 |
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Additions |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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Pushkin Press Limited holds 100% of the voting rights and ordinary share capital of Pushkin Productions Limited, whose registered office address is Somerset House, Strand, London, WC2R 1LA. The principal activities of Pushkin Productions Limited are motion picture, video and television programme post-production services.
Pushkin Press Limited holds 100% of the voting rights and ordinary share capital of Peter Owen Limited , whose registered office is Somerset House, Strand, London, WC2R 1LA. The principal activities of Peter Owen Limited are book publishing.
On 12 July 2023, Pushkin Press Limited incorporated a new subsidiary, Steerforth Press and Services, Inc, a US company whose registered office address is 1209 Orange Street, Wilmington, Delaware 19801. Steerforth Press and Services, Inc remained dormant during the year.
During the year ended 31 December 2023, Pushkin Press Limited incurred a total of £17,880 of legal costs relating to the acquisition of Steerforth Press, LLC and Hanover Publisher Services, LLC. The acquisitions were finalised during the year ended 31 December 2024 with 100% of the voting rights and ordinary share capital of both entities being acquired by Steerforth Press and Services, Inc. Subsequent to the acquisition, both Steerforth Press, LLC and Hanover Publisher Services, LLC were merged into Steerforth Press and Services, Inc
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£ | £ | ||
Stocks |
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Stocks include goods available for resale.
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£ | £ | ||
Trade debtors |
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Deferred tax asset |
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Other debtors |
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£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to Parent undertakings |
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
At the beginning of financial year |
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Credited to the Profit and Loss Account |
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At the end of financial year |
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Pushkin Press Limited is a subsidiary of Arboreal Holdings Ltd.
The address of Arboreal Holdings Limited is:
2nd Floor Cycle 360 House
Isle of Man Business Park
Douglas
Isle of Man
IM2 2QZ