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Company registration number: 00708923







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


PRESSDRAM LIMITED






































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PRESSDRAM LIMITED
 


 
COMPANY INFORMATION


Directors
I. Hislop 
S.A. Molnar 
G.M. Elwell 




Company secretary
G.M. Elwell



Registered number
00708923



Registered office
95 Gresham Street

London

EC2V 7AB




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

95 Gresham Street

London

EC2V 7AB





 


PRESSDRAM LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 


PRESSDRAM LIMITED
REGISTERED NUMBER:00708923



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,056
25,255

Investments
 5 
4,439,920
4,192,118

  
4,464,976
4,217,373

Current assets
  

Debtors: amounts falling due within one year
 6 
6,841,674
6,362,763

Current asset investments
 7 
500,000
100,000

Bank and cash balances
  
425,987
728,275

  
7,767,661
7,191,038

Creditors: amounts falling due within one year
 8 
(7,525,633)
(6,827,177)

Net current assets
  
 
 
242,028
 
 
363,861

Total assets less current liabilities
  
4,707,004
4,581,234

Provisions for liabilities
  

Other provisions
  
(200,000)
-

  
 
 
(200,000)
 
 
-

Net assets
  
4,507,004
4,581,234


Capital and reserves
  

Called up share capital 
  
261
261

Share premium account
  
1,839
1,839

Profit and loss account
  
4,504,904
4,579,134

  
4,507,004
4,581,234


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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


G.M. Elwell
S.A. Molnar
Director
Director
Date: 16 June 2025
Date:16 June 2025

The notes on pages 9 to 13 form part of these financial statements.

Page 1

 


PRESSDRAM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Pressdram Limited is a private company, limited by shares, incorporated in England and Wales under the Companies Act. The address of the registered office is shown on the company information page and the principal place of business is located at 6 Carlisle Street, London, W1D 3BN.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents the value of magazines sold and advertising revenues receivable during the year, excluding value added tax.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
between 3 and 7 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment. 
Investments in listed investments are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period. 

Page 2

 


PRESSDRAM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties and investments in ordinary shares.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 17).

Page 3

 


PRESSDRAM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 October 2023
164,068


Additions
10,255



At 30 September 2024

174,323



Depreciation


At 1 October 2023
138,813


Charge for the year on owned assets
10,454



At 30 September 2024

149,267



Net book value



At 30 September 2024
25,056



At 30 September 2023
25,255


5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 October 2023
3,015
4,189,103
4,192,118


Additions
-
1,255,852
1,255,852


Disposals
-
(1,165,484)
(1,165,484)


Revaluations
-
157,434
157,434



At 30 September 2024
3,015
4,436,905
4,439,920






Net book value



At 30 September 2024
3,015
4,436,905
4,439,920



At 30 September 2023
3,015
4,189,103
4,192,118

Page 4

 


PRESSDRAM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
571,554
492,696

Amounts owed from group undertakings
6,010,844
5,688,872

Prepayments and accrued income
67,304
14,688

Tax recoverable
191,972
166,507

6,841,674
6,362,763



7.


Current asset investments

2024
2023
£
£

Unlisted investments
500,000
100,000

500,000
100,000



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
567,669
505,738

Corporation tax
163,475
8,152

Other taxation and social security
50,401
214,510

Other creditors
-
106

Accruals and deferred income
6,744,088
6,098,671

7,525,633
6,827,177



9.


Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 16 June 2025 by Andrew Wooding FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 5