Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30Advanced Marketing (Europe) Limited, is a private company, limited by shares and incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the company’s operations and its principal activities are that of a holding company. The financial statements are prepared in GBP, which is considered to be the functional currency of the company, and are rounded to the nearest £1,000. The company’s principal activity is that of an intermediate holding company.Financial instruments are recognised in the Company's Balance Sheet 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. Basic financial assets Basic financial assets, which are amounts due from group undertakings, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which are amounts due to group undertakings are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.2023-07-01false00truefalse 03410987 2023-07-01 2024-06-30 03410987 2022-07-01 2023-06-30 03410987 2024-06-30 03410987 2023-06-30 03410987 2022-07-01 03410987 1 2023-07-01 2024-06-30 03410987 d:Director1 2023-07-01 2024-06-30 03410987 d:Director2 2023-07-01 2024-06-30 03410987 d:RegisteredOffice 2023-07-01 2024-06-30 03410987 c:CurrentFinancialInstruments 2024-06-30 03410987 c:CurrentFinancialInstruments 2023-06-30 03410987 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 03410987 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 03410987 c:ShareCapital 2024-06-30 03410987 c:ShareCapital 2023-06-30 03410987 c:ShareCapital 2022-07-01 03410987 c:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 03410987 c:RetainedEarningsAccumulatedLosses 2024-06-30 03410987 c:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 03410987 c:RetainedEarningsAccumulatedLosses 2023-06-30 03410987 c:RetainedEarningsAccumulatedLosses 2022-07-01 03410987 d:OrdinaryShareClass1 2023-07-01 2024-06-30 03410987 d:OrdinaryShareClass1 2024-06-30 03410987 d:OrdinaryShareClass1 2023-06-30 03410987 d:FRS102 2023-07-01 2024-06-30 03410987 d:Audited 2023-07-01 2024-06-30 03410987 d:FullAccounts 2023-07-01 2024-06-30 03410987 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03410987 6 2023-07-01 2024-06-30 03410987 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03410987









ADVANCED MARKETING (EUROPE) LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
COMPANY INFORMATION


Directors
A Kochar 
B Lucas 




Registered number
03410987



Registered office
Buckles Solicitors LLP
Grant House

101 Bourges Boulevard

Peterborough

PE1 1NG




Independent auditors
Forvis Mazars LLP
Chartered Accountants & Statutory Auditor

Two Chamberlain Square

Birmingham

B3 3AX





 
ADVANCED MARKETING (EUROPE) LIMITED
 

CONTENTS



Page
Directors' Report
1 - 2
Independent Auditors' Report
3 - 6
Statement of Comprehensive Income
7
Balance Sheet
8
Statement of Changes in Equity
9
Notes to the Financial Statements
10 - 13


 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 period.

 In preparing these financial statements, the directors are required to:


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

make judgments 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; and

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

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Directors

The directors who served during the year were:

A Kochar 
B Lucas 

Economic impact of global events

UK businesses are currently facing many uncertainties, including environmental sustainability and geopolitical events such as the Russian invasion of Ukraine. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working. 
The Directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that these are non-adjusting events with the greatest impact on the business expected to be from the economic ripple effect on the global economy. The Directors have taken account of these potential impacts in their going concern assessment. 
The company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business. 

Page 1

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Qualifying third party indemnity provisions

The company maintains liability insurance for its director and officers. Following shareholder approval the company has also provided an indemnity for its director and the secretary, which is a qualifying third party indemnity provision for the purposes of the Companies Act 2006. This indemnity was in force throughout the year and at the date of approval of the financial statements.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsForvis Mazars LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have 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.
 





B Lucas
Director

Date: 25 March 2025

Page 2

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MARKETING (EUROPE) LIMITED
 

Opinion

We have audited the financial statements of Advanced Marketing (Europe) Limited (the ‘Company’) for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. 
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the Company’s affairs as at 30 June 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 Auditor’s 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Directors' report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Directors' report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 3

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MARKETING (EUROPE) LIMITED
 

Other information (continued)
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
 
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors intend either to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Page 4

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MARKETING (EUROPE) LIMITED
 

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 

Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation and anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.  

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation and the Companies Act 2006. 

In addition, we evaluated the Directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:
Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
Discussing amongst the engagement team the risks of fraud; and
Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
Page 5

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ADVANCED MARKETING (EUROPE) LIMITED
 

Auditor's responsibilities for the audit of the financial statements (continued)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of the audit report

This report is made solely to the Company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body for our audit work, for this report, or for the opinions we have formed.




Paul Kurowski (Senior Statutory Auditor)  
for and on behalf of
Forvis Mazars LLP
Chartered Accountants and Statutory Auditor 
Two Chamberlain Square
Birmingham
B3 3AX

25 March 2025
Page 6

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£000
£000

  

Interest payable and similar expenses
  
(52)
(52)

Loss before tax
  
(52)
(52)

Tax on loss
  
-
-

Loss for the financial year
  
(52)
(52)

The notes on pages 10 to 13 form part of these financial statements.

Page 7

 
ADVANCED MARKETING (EUROPE) LIMITED
REGISTERED NUMBER: 03410987

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£000
£000

Fixed assets
  

Investments
 4 
10,612
10,612

  
10,612
10,612

Current assets
  

Debtors: amounts falling due within one year
 5 
1,590
1,590

  
1,590
1,590

Creditors: amounts falling due within one year
 6 
(5,333)
(5,281)

Net current liabilities
  
 
 
(3,743)
 
 
(3,691)

Total assets less current liabilities
  
6,869
6,921

  

Net assets
  
6,869
6,921


Capital and reserves
  

Called up share capital 
 7 
11,000
11,000

Profit and loss account
 8 
(4,131)
(4,079)

  
6,869
6,921


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: 




B Lucas
Director

Date: 25 March 2025

Page 8

 
ADVANCED MARKETING (EUROPE) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£000
£000
£000


At 1 July 2022
11,000
(4,027)
6,973



Loss for the year
-
(52)
(52)



At 1 July 2023
11,000
(4,079)
6,921



Loss for the year
-
(52)
(52)


At 30 June 2024
11,000
(4,131)
6,869


The notes on pages 10 to 13 form part of these financial statements.

Page 9

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Advanced Marketing (Europe) Limited, is a private company, limited by shares and incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the company’s operations and its principal activities are that of a holding company. 
The financial statements are prepared in GBP, which is considered to be the functional currency of the company, and are rounded to the nearest £1,000.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is a holding company and does not trade. Therefore it is reliant on the performance of its subsidiary undertakings in order to support the carrying value of investments and ultimately the going concern position of the company. The directors continue to regularly review and forecast the trading of group companies, and take mitigating action where necessary. On this basis and forecasts prepared and reviewed, the directors consider it appropriate to prepare the financial statements on the going concern basis. There is no intention to pay dividends or provide guarantees in the next 12 months.

 
2.3

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

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

 
2.6

Creditors

Short-term creditors are measured at the transaction price. 

Page 10

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet 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.

Basic financial assets

Basic financial assets, which are amounts due from group undertakings, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which are amounts due to group undertakings are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 11

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £Nil).


4.


Fixed asset investments





Investments in subsidiary companies

£000



Cost


At 1 July 2023
10,612



At 30 June 2024
10,612





5.


 
Debtors

2024
2023
£000
£000


Amounts owed by group undertakings
1,590
1,590

1,590
1,590


The amounts owed by subsidiary undertakings bear no interest and are repayable on demand. The amounts due are unsecured and have no fixed repayment date.


6.


Creditors: Amounts falling due within one year

2024
2023
£000
£000

Amounts owed to group undertakings
5,333
5,281

5,333
5,281


Of the total amounts owed to group undertakings £4,682k (2023: £4,630k) bears no interest, is unsecured and repayable on demand. The balance of £651k (2023: £651k) bears interest at 8% per annum, is unsecured and was payable on demand on or before November 30, 2021.

Page 12

 
ADVANCED MARKETING (EUROPE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Share capital

2024
2023
£000
£000
Allotted, called up and fully paid



11,000,000 (2023 - 11,000,000) Ordinary shares of £1.00 each
11,000
11,000



8.


Reserves

Profit and loss account

The profit and loss account represents cumulative gains and losses recognised in the profit and loss account.

9.


Related party transactions

Exemption has been taken under paragraph 33.1A of FRS 102 not to disclose transactions between wholly owned group companies.

10.


Post balance sheet events

There are no events affecting the Company following the year end.

11.


Controlling party

The immediate parent company is Baker & Taylor UK Investments Limited, Grant House, 101 Bourges Boulevard, Peterborough, England, PE1 1NG, a company incorporated in England, who own 100% of Advanced Marketing (Europe) Limited.
The ultimate parent company and controlling party is BTAC United Acquisition Holding Company being incorporated in the United States of America, registered office – 2810 Coliseum Centre Drive, Suite 300, Charlotte, North Carolina, NC 28217, USA. The largest group in which the results of the company are consolidated is that headed by the ultimate parent company. 
The smallest group in which the results of the company are consolidated is that headed by an intermediate parent company Yankee Book Peddler Limited. The consolidated financial statements of Yankee Book Peddler are available to the public and copies of these financial statements are available from the companies registered office - Buckles Solicitors LLP, Grant House, 101 Bourges Boulevard, Peterborough, PE1 1NG.

Page 13