REGISTERED NUMBER: |
R S Publications Limited |
Unaudited Financial Statements |
for the Year Ended 29th February 2024 |
REGISTERED NUMBER: |
R S Publications Limited |
Unaudited Financial Statements |
for the Year Ended 29th February 2024 |
R S Publications Limited (Registered number: SC399694) |
Contents of the Financial Statements |
for the year ended 29th February 2024 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 7 |
R S Publications Limited |
Company Information |
for the year ended 29th February 2024 |
Director: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
R S Publications Limited (Registered number: SC399694) |
Balance Sheet |
29th February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets/(liabilities) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
R S Publications Limited (Registered number: SC399694) |
Balance Sheet - continued |
29th February 2024 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
R S Publications Limited (Registered number: SC399694) |
Notes to the Financial Statements |
for the year ended 29th February 2024 |
1. | Statutory information |
R S Publications Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of advertising space invoiced during the year. |
Turnover arising from the provision of advertising space is recognised as the right to consideration is earned. |
Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years. |
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. |
Tangible fixed assets and depreciation |
Fixtures, fittings and equipment - 25% Reducing balance |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - bank loan, trade debtors, trade creditors, accruals and directors' loans. |
Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
The bank loan is initially measured at the present value of future payments, discounted at the market rate of interest, and subsequently at amortised cost using the effective interest method. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. |
R S Publications Limited (Registered number: SC399694) |
Notes to the Financial Statements - continued |
for the year ended 29th February 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
Going concern |
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
R S Publications Limited (Registered number: SC399694) |
Notes to the Financial Statements - continued |
for the year ended 29th February 2024 |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1st March 2023 |
Additions |
At 29th February 2024 |
Amortisation |
At 1st March 2023 |
Amortisation for year |
At 29th February 2024 |
Net book value |
At 29th February 2024 |
At 28th February 2023 |
5. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1st March 2023 |
and 29th February 2024 |
Depreciation |
At 1st March 2023 |
Charge for year |
At 29th February 2024 |
Net book value |
At 29th February 2024 |
At 28th February 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
R S Publications Limited (Registered number: SC399694) |
Notes to the Financial Statements - continued |
for the year ended 29th February 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts received on account |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
9. | Transactions with director |
The following advances and credits to the director subsisted during the years ended 29th February 2024 and 28th February 2023: |
2024 | 2023 |
Director |
Balance outstanding at start of year | 10,495 | 15,409 |
Amounts advanced | 26,466 | 26,530 |
Amount repaid | (22,571 | ) | (31,444 | ) |
14,390 | 10,495 |
This loan is unsecured, interest has been charged at the official rates published by HMRC and it is repayable on demand. |
10. | Post balance sheet events |
Since the year end on 27th September 2024, an interim dividend for the year ended 28th February 2025 of £14,500 per share has been declared. |