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Registered number: 10909913














NPAP PUBLISHING LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
NPAP PUBLISHING LIMITED
 
 
COMPANY INFORMATION


Director
N B Rogues 




Registered number
10909913



Registered office
Elsley Court
20-22 Great Titchfield Street

London

W1W 8BE




Accountants
SRLV LLP
Chartered Accountants

Elsley Court

20-22 Great Titchfield Street

London

W1W 8BE





 
NPAP PUBLISHING LIMITED
 

CONTENTS



Page
Director's report
 
 
1
Director's responsibilities statement
 
 
2
Accountants' report
 
 
3
Profit and loss account
 
 
4
Balance sheet
 
 
5
Notes to the financial statements
 
 
6 - 8

 
NPAP PUBLISHING LIMITED
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director

The director who served during the year was:

N B Rogues 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





N B Rogues
Director

Date: 30 October 2024
Page 1

 
NPAP PUBLISHING LIMITED
 
 
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Section 1A of the Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year.

In preparing these financial statements, the director is required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

 
NPAP PUBLISHING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 
NPAP PUBLISHING LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NPAP Publishing Limited for the year ended 31 October 2023 which comprise the profit and loss account, the balance sheet 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 at the following website: https://www.icaew.com /regulation.

This report is made solely to the director of NPAP Publishing Limited in accordance with the terms of our engagement letter dated 29 August 2023Our work has been undertaken solely to prepare for your approval the financial statements of NPAP Publishing Limited and state those matters that we have agreed to state to the director of NPAP Publishing Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NPAP Publishing Limited and its director for our work or for this report. 

It is your duty to ensure that NPAP Publishing 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 profit of NPAP Publishing Limited. You consider that NPAP Publishing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of NPAP Publishing 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.

  



SRLV LLP
 
Chartered Accountants
  
Elsley Court
20-22 Great Titchfield Street
London
W1W 8BE
30 October 2024
Page 3

 
NPAP PUBLISHING LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
£
£

  

Turnover
  
36,250
26,767

Cost of sales
  
(7,250)
(5,353)

Gross profit
  
29,000
21,414

Administrative expenses
  
(7,615)
(1,949)

Operating profit
  
21,385
19,465

Interest receivable and similar income
  
-
205

Interest payable and similar expenses
  
(114)
(551)

Profit before tax
  
21,271
19,119

Tax on profit
  
(4,269)
(3,949)

Profit for the financial year
  
17,002
15,170
Page 4

 
NPAP PUBLISHING LIMITED
REGISTERED NUMBER:10909913

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
98,293
78,132

Cash at bank
 5 
2,182
12,183

  
100,475
90,315

Creditors: amounts falling due within one year
 6 
(71,556)
(71,398)

Net current assets
  
 
 
28,919
 
 
18,917

Total assets less current liabilities
  
28,919
18,917

  

Net assets
  
28,919
18,917


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
28,819
18,817

  
28,919
18,917


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N B Rogues
Director

Date: 30 October 2024

The notes on pages 6 to 8 form part of these financial statements.
Page 5

 
NPAP PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

NPAP Publishing Limited is a private company, limited by shares, registered in England and Wales, registration number 10909913. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of sound recording and music publishing.
 
2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover from sound recording and music publishing is recognised when it is probable the company will receive the consideration due under the contract.
Advances received are recognised as income on receipt.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
NPAP PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors and loans with related parties.


3.


Employees

The average monthly number of employees, including a director, during the year was 1 (2022 - 1). 


4.


Debtors

2023
2022
£
£


Other debtors
66,652
53,270

Prepayments and accrued income
19,283
12,504

Tax recoverable
12,358
12,358

98,293
78,132



5.


Cash

2023
2022
£
£

Cash at bank
2,182
12,183


Page 7

 
NPAP PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
6,400
2,594

Corporation tax
6,960
16,824

Other creditors
2,030
210

Accruals and deferred income
56,166
51,770

71,556
71,398



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


8.


Prior year adjustment

In the prior year, an amount of £2,594 had been misallocated as other creditors rather than trade creditors. This has now been amended as a prior year adjustment. As a result, other creditors have reduced by £2,594 and trade creditors have increased by £2,594. 
These adjustments have no impact on retained earnings.


9.


Transactions with the director

As at the year end, the company owed £2,032 (2022 - £210) to the director. Interest at the official rate has been charged on the loan, when the loan was owed to the company. The loan is unsecured and repayable on demand.
During the year, dividends of £7,000 (2022 - £30,000) were paid to the director. 
 
Page 8