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COMPANY REGISTRATION NUMBER: 04123287
Napier Press Ltd
Filleted Unaudited Financial Statements
31 December 2024
Napier Press Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,709
2,804
Current assets
Stocks
64,058
113,321
Debtors
5
32,611
2,715
Cash at bank and in hand
379,676
526,008
---------
---------
476,345
642,044
Creditors: amounts falling due within one year
6
244,545
343,569
---------
---------
Net current assets
231,800
298,475
---------
---------
Total assets less current liabilities
234,509
301,279
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
224,509
291,279
---------
---------
Shareholders funds
234,509
301,279
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Napier Press Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 30 July 2025 , and are signed on behalf of the board by:
Mrs G Westergaard
Mr H Westergaard
Director
Director
Company registration number: 04123287
Napier Press Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Ridgewell & Boreham Accountants, 24a Crown Street, Brentwood, Essex, CM14 4BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20 % reducing balance
Website
-
20 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Fixtures and fittings
Equipment
Website
Total
£
£
£
£
Cost
At 1 January 2024
678
16,371
2,100
19,149
Additions
582
582
----
--------
-------
--------
At 31 December 2024
678
16,953
2,100
19,731
----
--------
-------
--------
Depreciation
At 1 January 2024
572
13,884
1,889
16,345
Charge for the year
21
614
42
677
----
--------
-------
--------
At 31 December 2024
593
14,498
1,931
17,022
----
--------
-------
--------
Carrying amount
At 31 December 2024
85
2,455
169
2,709
----
--------
-------
--------
At 31 December 2023
106
2,487
211
2,804
----
--------
-------
--------
5. Debtors
2024
2023
£
£
Trade debtors
32,611
2,715
--------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,250
1,251
Corporation tax
42,719
60,602
Social security and other taxes
1,169
842
Creditor control account
(2,164)
(697)
Other creditors
201,571
281,571
---------
---------
244,545
343,569
---------
---------
7. Related party transactions
The company was under the control of Mr Webb, Mr Westergaard and Mrs Westergaard during the financial year No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Small Entities.