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REGISTERED NUMBER: 11518056 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DAILY PAPER UK LTD

DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAILY PAPER UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: O. E. M. Heijns





REGISTERED OFFICE: 14-16 Great Pulteney Street
London
W1F 9ND





REGISTERED NUMBER: 11518056 (England and Wales)





AUDITORS: Biznav Limited, Statutory Auditor
36 Scotts Road
Bromley
Kent
BR1 3QD

DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 406,430 465,400

CURRENT ASSETS
Stocks 756,640 760,033
Debtors 5 1,591,668 444,936
Cash at bank and in hand 1,228,992 771,006
3,577,300 1,975,975
CREDITORS
Amounts falling due within one year 6 3,400,772 2,214,049
NET CURRENT ASSETS/(LIABILITIES) 176,528 (238,074 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

582,958

227,326

PROVISIONS FOR LIABILITIES 33,705 34,098
NET ASSETS 549,253 193,228

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 549,252 193,227
549,253 193,228

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2025 and were signed by:





O. E. M. Heijns - Director


DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Daily Paper UK 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.

Going concern
In considering the appropriate basis on which to prepare the financial statements, the director is required to consider whether the company can continue in operational existence for the foreseeable future.

The company is part of the Daily Paper Holding B.V. group of companies, of which the company is one of a number of trading subsidiaries, and the going concern assessment is based on the going concern review of the group and company. The director has made an assessment and satisfied herself of the group's and company's ability to continue as a going concern. The key elements of this assessment were the group's and company's budgets and cash flow forecasts and projections. These budgets, forecasts and projections show that, over the forthcoming four financial years, the group and company have adequate resources to continue in operational existence and are expected to achieve significant growth in turnover and profitability.

The director is therefore of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future and continues to adopt the going concern basis of accounting in preparing these financial statements.

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

Turnover is recognised when the risks and rewards of owning the goods has passed to the customer, which is generally on the point of sale.

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 etc - Straight line over 5 years and Straight line over 10 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments, transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value and subsequently at amortised cost, net of any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2022 - 10 ) .

DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 557,877
DEPRECIATION
At 1 January 2023 92,477
Charge for year 58,970
At 31 December 2023 151,447
NET BOOK VALUE
At 31 December 2023 406,430
At 31 December 2022 465,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 94,474 141,814
Amounts owed by group undertakings 1,225,744 -
Other debtors 271,450 303,122
1,591,668 444,936

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 108,468 184,326
Amounts owed to group undertakings 2,937,182 1,702,438
Taxation and social security 179,488 127,451
Other creditors 175,634 199,834
3,400,772 2,214,049

DAILY PAPER UK LTD (REGISTERED NUMBER: 11518056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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

The Auditors' Report was qualified on the following basis:

Basis for qualified opinion
We were not appointed as auditors of the company until after 31 December 2023 and therefore did not observe the counting of physical stocks at that date. We were unable to satisfy ourselves by using other audit procedures concerning the inventory quantities held at 31 December 2022, which are included in the financial statements at £760,033 and the inventory quantities held at 31 December 2023, which are included in the financial statements at £756,640. Consequently, we were unable to determine whether any adjustments to these amounts were necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Matters required to report by exception

Sarfraz Fayyaz (Senior Statutory Auditor)
for and on behalf of Biznav Limited, Statutory Auditor

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £909,118 (2022 £1,042,160) and are in relation to commitments under operating leases.

9. PARENT UNDERTAKING

The immediate and ultimate parent undertaking is Daily Paper Holding B.V, the company which prepares the group’s consolidated financial statements. Copies of the consolidated financial statements for the year-ended 31 December 2022 can be obtained from its registered office, Danzigerbocht 45N, 1013 AM, Amsterdam, Netherlands.