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REGISTERED NUMBER: 06570267 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

BETTER WORLD BOOKS LTD.

BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BETTER WORLD BOOKS LTD.

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: Ms L Day
Mr D J Holland
Ms G Patton-Schmitt





SECRETARY: Ms G Patton-Schmitt





REGISTERED OFFICE: Third Floor One London Square
Cross Lanes
Guildford
GU1 1UN





REGISTERED NUMBER: 06570267 (England and Wales)





AUDITORS: Haines Watts Scotland
Business Advisors, Accountants and
Statutory Auditors
Q Court
3 Quality Street
Edinburgh
EH4 5BP

BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,307 142,482

CURRENT ASSETS
Stocks 1,096,923 1,029,020
Debtors 5 1,316,547 325,959
Cash at bank and in hand 23,703 181,521
2,437,173 1,536,500
CREDITORS
Amounts falling due within one year 6 1,306,543 962,807
NET CURRENT ASSETS 1,130,630 573,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,228,937

716,175

PROVISIONS FOR LIABILITIES 21,791 -
NET ASSETS 1,207,146 716,175

CAPITAL AND RESERVES
Called up share capital 50,001 50,001
Retained earnings 1,157,145 666,174
1,207,146 716,175

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Ms L Day - Director


BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Better World Books Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue, derived from the principal activity of obtaining new and used books for retailing over the internet, is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The revenue is recognised in the period to which it relates.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Plant and machinery: 20-25% straight line
- Fixtures, fittings and equipment: 20-25% straight line
- Computer equipment: 25-33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted as appropriate, or if there is an indication of a significant change since the last reporting date.

STOCKS
Stocks are valued at the lower of cost and net realisable values, determined on a cumulative basis including all costs incurred to bring books into inventory, including packaging, shipping, labour and other sourcing related costs, after making due allowances for obsolete and slow moving stocks. Costs include all direct costs and an appropriate proportion of fixed and variable overheads.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of it's financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 51 ) .

BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 156,869 553,361 167,429 877,659
Additions - 7,464 - 7,464
At 30 June 2024 156,869 560,825 167,429 885,123
DEPRECIATION
At 1 July 2023 120,967 486,416 127,794 735,177
Charge for year 16,470 19,712 15,457 51,639
At 30 June 2024 137,437 506,128 143,251 786,816
NET BOOK VALUE
At 30 June 2024 19,432 54,697 24,178 98,307
At 30 June 2023 35,902 66,945 39,635 142,482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,066,955 95,213
Other debtors 249,592 230,746
1,316,547 325,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 477,473 425,023
Amounts owed to group undertakings 583,750 226,364
Tax 41,542 -
Social security and other taxes 21,455 32,522
Other creditors 10,787 15,213
Accrued expenses 171,536 263,685
1,306,543 962,807

The Royal Bank of Scotland plc holds a fixed charge over the cash deposits of the company in respect of any present, future, actual or contingent liabilities to the bank.

In addition, a fixed and floating charge over the assets of the company is held by Open Library of Richmond Inc in respect of all present and future obligations and liabilities owed to them.

BETTER WORLD BOOKS LTD. (REGISTERED NUMBER: 06570267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 108,225 176,909
Between one and five years 13,200 118,913
121,425 295,822

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)
for and on behalf of Haines Watts Scotland

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The immediate parent company of Better World Books Ltd. is Qumpus Inc. trading as Better World Books and it's registered office is 55740 Currant Road, Mishawaka, IN46545, United States.

The ultimate controlling party is Better World Libraries, a not-for-profit organisation registered in the United States. Better World Libraries is the parent entity of the largest group for which the results of Better World Books Limited are included in consolidated accounts, these are available from their registered office at 55740 Currant Road, Mishawaka, IN46545, United States.