IRIS Accounts Production v25.1.0.734 07341977 director 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073419772023-08-31073419772024-08-31073419772023-09-012024-08-31073419772022-08-31073419772022-09-012023-08-31073419772023-08-3107341977ns15:EnglandWales2023-09-012024-08-3107341977ns14:PoundSterling2023-09-012024-08-3107341977ns10:Director12023-09-012024-08-3107341977ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3107341977ns10:SmallEntities2023-09-012024-08-3107341977ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3107341977ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3107341977ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3107341977ns10:FullAccounts2023-09-012024-08-3107341977ns10:RegisteredOffice2023-09-012024-08-3107341977ns5:CurrentFinancialInstruments2024-08-3107341977ns5:CurrentFinancialInstruments2023-08-3107341977ns5:ShareCapital2024-08-3107341977ns5:ShareCapital2023-08-3107341977ns5:RetainedEarningsAccumulatedLosses2024-08-3107341977ns5:RetainedEarningsAccumulatedLosses2023-08-3107341977ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-3107341977ns5:LeaseholdImprovements2023-08-3107341977ns5:FurnitureFittings2023-08-3107341977ns5:ComputerEquipment2023-08-3107341977ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-012024-08-3107341977ns5:LeaseholdImprovements2023-09-012024-08-3107341977ns5:FurnitureFittings2023-09-012024-08-3107341977ns5:ComputerEquipment2023-09-012024-08-3107341977ns5:LongLeaseholdAssetsns5:LandBuildings2024-08-3107341977ns5:LeaseholdImprovements2024-08-3107341977ns5:FurnitureFittings2024-08-3107341977ns5:ComputerEquipment2024-08-3107341977ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-3107341977ns5:LeaseholdImprovements2023-08-3107341977ns5:FurnitureFittings2023-08-3107341977ns5:ComputerEquipment2023-08-3107341977ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3107341977ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31073419771ns10:Director12023-08-31073419771ns10:Director12022-08-31073419771ns10:Director12023-09-012024-08-31073419771ns10:Director12022-09-012023-08-31073419771ns10:Director12024-08-31073419771ns10:Director12023-08-31
REGISTERED NUMBER: 07341977 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SPANDIDOS PUBLICATIONS UK LTD

SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPANDIDOS PUBLICATIONS UK LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: Mr N Spandidos





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 07341977 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,926,320 3,927,375
Investment property 5 1,700,000 1,700,000
5,626,320 5,627,375

CURRENT ASSETS
Debtors 6 65,626 90,545
Cash at bank 2,237,909 2,525,551
2,303,535 2,616,096
CREDITORS
Amounts falling due within one year 7 2,418,230 1,790,812
NET CURRENT (LIABILITIES)/ASSETS (114,695 ) 825,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,511,625

6,452,659

PROVISIONS FOR LIABILITIES 250,395 250,023
NET ASSETS 5,261,230 6,202,636

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 8 5,261,229 6,202,635
SHAREHOLDERS' FUNDS 5,261,230 6,202,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

BALANCE SHEET - continued
31 August 2024


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 and authorised for issue by the director and authorised for issue on 14 April 2025 and were signed by:





Mr N Spandidos - Director


SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Spandidos Publications 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost or valuation less accumulated depreciation. Depreciation is provided at rates calculated to write the cost or valuation less residual value of each asset over its expected life as follows:-

- Long Leasehold commercial Property - 2% on cost per annum
- Fixtures, Fittings and Equipment - 25% reducing balance
- Computer Equipment - 33.33% straight line

Depreciation is not provided in respect of long leasehold commercial property and improvements to property. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the accounts may give a true and fair view because the current value and changes in the current value are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation.

Investment property
Investment property is held at its fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.


SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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
Monetary 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.

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 25 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Long Imprvmts
leasehold to Fixtures,
commercial commercial fittings Computer
property prop & Equipment equipment Totals
£    £    £    £    £   
COST
At 1 September 2023
and 31 August 2024 3,451,820 471,696 23,679 23,817 3,971,012
DEPRECIATION
At 1 September 2023 - - 20,179 23,458 43,637
Charge for year - - 875 180 1,055
At 31 August 2024 - - 21,054 23,638 44,692
NET BOOK VALUE
At 31 August 2024 3,451,820 471,696 2,625 179 3,926,320
At 31 August 2023 3,451,820 471,696 3,500 359 3,927,375

SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 1,700,000
NET BOOK VALUE
At 31 August 2024 1,700,000
At 31 August 2023 1,700,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2017 641,649
Cost 1,058,351
1,700,000

If investment property had not been revalued it would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 1,058,351 1,058,351
Aggregate depreciation (169,336 ) (148,169 )

Investment property was valued on an open market basis on 31 August 2024 by the director of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 46,974 55,131
Other debtors 18,652 35,414
65,626 90,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 3,138 2,989
Taxation and social security 157,374 106,086
Other creditors 2,257,718 1,681,737
2,418,230 1,790,812

8. RESERVES

During the year dividends of £1,385,000 (2023: £1,794,000) were declared. Other than dividends, the only
movement in retained earnings is the result for the year.

Included in reserves are undistributable reserves of £481,237 (2023: £481,237).

SPANDIDOS PUBLICATIONS UK LTD (REGISTERED NUMBER: 07341977)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
Mr N Spandidos
Balance outstanding at start of year (1,619,617 ) 1,307,024
Amounts advanced 827,004 1,283,559
Amounts repaid (1,409,100 ) (4,210,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,201,713 ) (1,619,617 )

The directors loan account balance is included in other creditors.

10. RELATED PARTY DISCLOSURES

During the year licence fees of £203,066 (2023: £95,609) were payable to a company in which the director has a material interest.