REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
HOGREFE LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
HOGREFE LIMITED |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
HOGREFE LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Certified Accountants |
1 Carnegie Road |
Newbury |
Berkshire |
RG14 5DJ |
BANKERS: |
40 Whitgift Centre |
Croydon |
Surrey |
CR0 1UQ |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
REPORT OF THE DIRECTORS |
For The Year Ended 31 December 2024 |
The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company during the year under review continued to be that of developers and publishers of Psychometric Assessments for the Occupational, Clinical, Paediatric and Educational markets. |
REVIEW OF BUSINESS |
The business has performed well during the year and reports a 5.47% increase in turnover and a 5.08% increase in gross profit. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
REPORT OF THE DIRECTORS |
For The Year Ended 31 December 2024 |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
BALANCE SHEET |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Hogrefe Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00488331 and has its registered office and place of business at Albion Place, Oxford, Oxfordshire, OX1 1QZ. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is GB Pounds Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
Related party exemption |
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. |
Turnover |
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, in the case of printed matter, which is the same day as the goods are delivered. In the case of web sales, revenue is recognised on payment, which is when access is provided to online content. These are the points at which the risks and rewards of ownership pass to the buyer. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, has been amortised evenly over its estimated useful life of five years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock is valued, and any adjustments are made in accordance with the group policy. |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, 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 receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimates cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. |
Impairment of financial assets |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
Financial liabilities |
Basic financial liabilities, including trade and other payables and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current iabilities if payment is due within one year or less. If not, they are presented as noncurrent liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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. |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Leasing commitments |
Rentals payable under operating leases are charged to the profit and loss account 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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2024 |
Disposals | ( |
) |
At 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Included in cost of land and buildings is freehold land of £ 725,000 (2023 - £ 725,000 ) which is not depreciated. |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2024 |
Disposals | ( |
) |
At 31 December 2024 |
PROVISIONS |
At 1 January 2024 | 612 |
Eliminated on disposal | (612 | ) |
At 31 December 2024 | - |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
7. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Deferred tax asset |
Prepayments |
HOGREFE LIMITED (REGISTERED NUMBER: 00488331) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
7. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Deferred tax asset |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings | 114,626 | 134,493 |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 110,136 | 86,439 |
Accruals and deferred income |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1.00 | 2,425,000 | 2,425,000 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | PENSION COMMITMENTS |
As at 31 December 2024 the company had no outstanding pension commitment (2023 nil). |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is Hogrefe AG. |
Hogrefe AG, has its registered office at Langgass-Strasse 76, 3000 Berne 9, Switzerland. |
The ultimate controlling party is Hogrefe Verlagsgruppe GmbH. |
Hogrefe Verlagsgruppe GmbH has its registered office at Merkelstr. 3, 37085 Gottingen. |