Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Christine Sarah Custance 23 October 2024 The principal activity of the Company during the financial year was the supply of books. 02718849 2024-04-30 02718849 2023-04-30 02718849 core:CurrentFinancialInstruments 2024-04-30 02718849 core:CurrentFinancialInstruments 2023-04-30 02718849 core:ShareCapital 2024-04-30 02718849 core:ShareCapital 2023-04-30 02718849 core:RetainedEarningsAccumulatedLosses 2024-04-30 02718849 core:RetainedEarningsAccumulatedLosses 2023-04-30 02718849 core:OtherPropertyPlantEquipment 2023-04-30 02718849 core:OtherPropertyPlantEquipment 2024-04-30 02718849 bus:OrdinaryShareClass1 2024-04-30 02718849 core:WithinOneYear 2024-04-30 02718849 core:WithinOneYear 2023-04-30 02718849 core:BetweenOneFiveYears 2024-04-30 02718849 core:BetweenOneFiveYears 2023-04-30 02718849 core:MoreThanFiveYears 2024-04-30 02718849 core:MoreThanFiveYears 2023-04-30 02718849 2023-05-01 2024-04-30 02718849 bus:FilletedAccounts 2023-05-01 2024-04-30 02718849 bus:SmallEntities 2023-05-01 2024-04-30 02718849 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02718849 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02718849 bus:Director1 2023-05-01 2024-04-30 02718849 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-05-01 2024-04-30 02718849 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 02718849 2022-05-01 2023-04-30 02718849 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02718849 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 02718849 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02718849 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 02718849 1 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02718849 (England and Wales)

DEEP BOOKS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

DEEP BOOKS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

DEEP BOOKS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
DEEP BOOKS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Christine Sarah Custance
SECRETARY Sylvester Chukudi Enubuzor
REGISTERED OFFICE Unit 3 Goose Green Trading
Estate
47 East Dulwich Road
London
SE22 9BN
United Kingdom
COMPANY NUMBER 02718849 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
DEEP BOOKS LIMITED

BALANCE SHEET

As at 30 April 2024
DEEP BOOKS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 17,872 5,862
17,872 5,862
Current assets
Stocks 4 453,080 362,640
Debtors 5 373,027 469,780
Cash at bank and in hand 775,854 800,300
1,601,961 1,632,720
Creditors: amounts falling due within one year 6 ( 515,204) ( 633,331)
Net current assets 1,086,757 999,389
Total assets less current liabilities 1,104,629 1,005,251
Net assets 1,104,629 1,005,251
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 1,103,629 1,004,251
Total shareholder's funds 1,104,629 1,005,251

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Deep Books Limited (registered number: 02718849) were approved and authorised for issue by the Director on 23 October 2024. They were signed on its behalf by:

Christine Sarah Custance
Director
DEEP BOOKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
DEEP BOOKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

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.

General information and basis of accounting

Deep Books 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 Unit 3 Goose Green Trading, Estate, 47 East Dulwich Road, London, SE22 9BN, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 13

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 125,375 125,375
Additions 16,620 16,620
At 30 April 2024 141,995 141,995
Accumulated depreciation
At 01 May 2023 119,513 119,513
Charge for the financial year 4,610 4,610
At 30 April 2024 124,123 124,123
Net book value
At 30 April 2024 17,872 17,872
At 30 April 2023 5,862 5,862

4. Stocks

2024 2023
£ £
Stocks 453,080 362,640

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

2024 2023
£ £
Trade debtors 311,972 411,697
Other debtors 61,055 58,083
373,027 469,780

Included in other debtors is an amount of £12,000 (2023: £12,000) due from an officer of the Company. The amount is interest-free and no date for repayment has been set.

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 445,934 473,189
Taxation and social security 34,264 19,822
Other creditors 35,006 140,320
515,204 633,331

There are no amounts included above in respect of which any security has been given by the small entity.

Included in other creditors is an amount of £27,977 (2023: £32,737) due to an officer of the Company. The amount is interest-free and no date for repayment has been set.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 85,860 85,860
between one and five years 89,840 153,240
after five years 0 22,460
175,700 261,560

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,027 1,297

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.