REGISTERED NUMBER: 01492315 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MCDONALD PUBLISHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr V C Gander

Ms H M McDonald

Mr J McDonald

REGISTERED OFFICE:

The Old Mill

76 Fleckney Road

Kibworth Beauchamp

Leicester

Leicestershire

LE8 0HG

REGISTERED NUMBER:

01492315 (England and Wales)

BANKERS:

Lloyds TSB Bank plc

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

LE19 1WF

FIXED ASSETS

Tangible assets

4

226,409

225,270

Investments

5

592

592

227,001

225,862

CURRENT ASSETS

Stocks

6

599,232

500,488

Debtors

7

580,879

549,380

Cash at bank and in hand

887,172

1,086,902

2,067,283

2,136,770

CREDITORS

Amounts falling due within one year

8

375,604

303,572

NET CURRENT ASSETS

1,691,679

1,833,198

TOTAL ASSETS LESS CURRENT LIABILITIES

1,918,680

2,059,060

CAPITAL AND RESERVES

Called up share capital

56,500

56,500

Share premium

2,500

2,500

Revaluation reserve

10

21,013

21,253

Capital redemption reserve

3,500

3,500

Retained earnings

1,835,167

1,975,307

1,918,680

2,059,060

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

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

The directors acknowledge their 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.

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 by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

Miss H McDonald - Director

1.	STATUTORY INFORMATION

McDonald Publishing Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about McDonald Publishing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts. The company supplies products to customers from its warehouse, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and Buildings

-

2% on cost excluding land

Plant, machinery, fixtures & fittings

-

at varying rates on cost

Motor vehicles

-

25% on cost

Listed Investments

Listed investments are included at market value. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

Artwork and films

Expenditure on artwork and films is charged to profits in the period in which it is incurred.

Hire Purchase and Leasing Commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Income from investments

Investment income comprises dividends declared during the accounting period and interest receivable on listed and unlisted investments.

Going Concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

machinery,

Land and

fixtures

Motor

Buildings

& fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

230,000

193,528

57,000

480,528

Additions

-

4,475

-

4,475

At 31 December 2024

230,000

198,003

57,000

485,003

DEPRECIATION

At 1 January 2024

10,106

188,152

57,000

255,258

Charge for year

786

2,550

-

3,336

At 31 December 2024

10,892

190,702

57,000

258,594

NET BOOK VALUE

At 31 December 2024

219,108

7,301

-

226,409

At 31 December 2023

219,894

5,376

-

225,270

The freehold land and building were valued on an open market basis on 16 April 2012 by Peter Tew & Co. Chartered Surveyors. This value has been adopted as deemed costs of the assets concerned on transition to FRS102.

The comparable amounts for land and buildings at original cost were;

£

Cost

218,976

Depreciation

18,709

200,267

Cost of land in freehold land and buildings - £157,600.

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

4

588

592

NET BOOK VALUE

At 31 December 2024

4

588

592

At 31 December 2023

4

588

592

6.

STOCKS

2024

2023

£

£

Finished goods

599,232

500,488

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

315,884

450,319

Deferred tax asset

7,608

7,943

Other debtors

257,387

91,118

580,879

549,380

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

344,486

268,933

Taxation and social security

29,245

31,564

Other creditors

1,873

3,075

375,604

303,572

9.	LEASING AGREEMENTS

At 31 December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £158,250 (2023: £222,000).

10.

RESERVES

Revaluation

reserve

£

At 1 January 2024

21,253

Transfer to P & L account

(240

)

At 31 December 2024

21,013

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

Mr J McDonald

Balance outstanding at start of year

327

67

Amounts advanced

1,628

14,993

Amounts repaid

(1,563

)

(14,733

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

392

327

The directors loan is repayable on demand and is subject to interest at HMRC official rate.

12.	PENSION SCHEME

The company operates a defined contribution pension scheme for the benefit of directors and senior employees. The assets of the scheme are administered by trustees in a fund independent from those of the company. The costs for the period were £43,025 (2023: £36,091).