Company Registration No. 07846871 (England and Wales)
Casemate Publishers Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
Casemate Publishers Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Casemate Publishers Limited
Statement of financial position
As at 31 December 2024
31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
757
-
0
Investments
5
474,544
727,528
475,301
727,528
Current assets
Debtors
6
62,195
145,676
Cash at bank and in hand
37,895
1,570
100,090
147,246
Creditors: amounts falling due within one year
7
(26,830)
(49,761)
Net current assets
73,260
97,485
Total assets less current liabilities
548,561
825,013
Creditors: amounts falling due after more than one year
8
(1,309,240)
(1,314,556)
Net liabilities
(760,679)
(489,543)
Capital and reserves
Called up share capital
10
12,840
12,840
Share premium account
73,272
73,272
Profit and loss reserves
(846,791)
(575,655)
Total equity
(760,679)
(489,543)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Casemate Publishers Limited
Statement of financial position (continued)
As at 31 December 2024
31 December 2024
2
The financial statements were approved by the board of directors and authorised for issue on 5 September 2025 and are signed on its behalf by:
Christopher Butler
Director
Company Registration No. 07846871
Casemate Publishers Limited
Notes to the financial statements
For the year ended 31 December 2024
3
1
Accounting policies
Company information

Casemate Publishers Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Wheelhouse Angel Court, 81 St. Clements, Oxford, OX4 1AW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking s comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group financial statements.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In light of the challenging economic circumstances, the directors have reviewed forecasts and performance since the date of approval of the financial statements, and concluded that they will be able to meet liabilities as they fall due.

Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover primarily represents service fees charged to group companies and third parties in respect of all services that have been provided to them during the year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
straight line over 3 and 5 years
Furniture and fittings
straight line over 3 and 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
4
1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Interests in associates are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
5
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

The company contributes to a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
6
3
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Company
Registered office
Principal activity
Shares held
Class
%
Oxbow Books Limited
The Wheelhouse Angel Court, 81 St. Clements, Oxford, England, OX4 1AW
Specialist publisher
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Subsidiary undertakings
Profit/ (Loss)
Capital and Reserves
£
£
Oxbow Books Limited
(144,592)
(55,191)
4
Tangible fixed assets
Tangible fixed assets
£
Cost
At 1 January 2024
93,040
Additions
1,136
At 31 December 2024
94,176
Depreciation and impairment
At 1 January 2024
93,040
Depreciation charged in the year
379
At 31 December 2024
93,419
Carrying amount
At 31 December 2024
757
At 31 December 2023
-
0
5
Fixed asset investments
2024
2023
£
£
Investments
474,544
727,528
Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
5
Fixed asset investments (continued)
7
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 January 2024
727,528
Valuation changes
(252,984)
At 31 December 2024
474,544
Carrying amount
At 31 December 2024
474,544
At 31 December 2023
727,528
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,937
19,609
Amounts due from subsidiary undertakings
41,728
62,000
Other debtors
3,530
28,957
62,195
110,566
Amounts falling due after more than one year:
Amounts due from group undertakings
-
0
35,110
Total debtors
62,195
145,676
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,072
27,865
Trade creditors
3,941
3,768
Taxation and social security
6,583
5,987
Other creditors
11,234
12,141
26,830
49,761
Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
7
Creditors: amounts falling due within one year (continued)
8

The overdraft above is secured via a debenture against the Company's assets, along with guarantees offered by shareholders and group companies.

8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Loan notes
9
150,000
150,000
Bank loans and overdrafts
9
27,647
32,963
Other creditors
9
1,131,593
1,131,593
1,309,240
1,314,556

The company has £150,000 (2023: £150,000) of interest bearing unsecured loan notes. The loan notes bear interest at a rate of 6.5% per annum and are redeemable from the 5th anniversary of the date of issue.

9
Loans and overdrafts
2024
2023
£
£
Loan notes
150,000
150,000
Bank loans
32,719
38,035
Bank overdrafts
-
0
22,793
Other loans
1,131,593
1,131,593
1,314,312
1,342,421
Payable within one year
5,072
27,865
Payable after one year
1,309,240
1,314,556
10
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
12,840 Ordinary shares of £1 each
12,840
12,840
11
Financial commitments, guarantees and contingent liabilities

Casemate Publishers Limited is party to a contract to guarantee the liabilities of Oxbow Books Limited to National Westminster Bank Plc, to a maximum of £40,000. Oxbow Books Limited is a fully owned subsidiary of Casemate Publishers Limited.

Casemate Publishers Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
9
12
Events after the reporting date

Subsequent to the reporting date, the company transferred its principal trade of provision of management services to its subsidiary, Oxbow Books Limited, along with associated assets and employees. The company will continue to operate as an investment and holding company for the group.

13
Related party transactions
Transactions with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed to/(from) related parties
Opening balance
Amount advanced
Amount paid/waived
Closing balance
£
£
£
£
Mr and Mrs C Butler who are shareholders in the company
1,131,593
-
1,131,593
Service fee sales
Opening balance
Invoiced
Amount paid
Closing balance
£
£
£
£
Companies under common control
18,831
229,936
230,674
18,093
Participating interests
17,137
17,137
-
Service fee purchases
Opening balance
Invoiced
Amount paid
Closing balance
£
£
£
£
Companies under common control
1,315
373
1,688
-

The company has taken advantage of the provisions within FRS 102 section 1A not to disclose transactions entered into between two or more members of a group.

The overdraft facility provided by the bank to subsidiary Oxbow Books Limited is secured by a guarantee of £40,000 from Casemate Publishers Limited and a charge over the assets of Casemate Publishers Limited.

14
Control

The directors consider Christopher and Alison Butler, who collectively hold over 50% of the shares in the company and who have the ability to vote in concert, to be the controlling party.

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