REGISTERED NUMBER: 03212231 (England and Wales)

S. Karger Publishers Ltd

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C C M Box

Mr D C Ebneter

Mr G Karger Travella

Mr F Waaga

REGISTERED OFFICE:

5 -7 Stert Street

Abingdon

Oxfordshire

OX14 3JF

REGISTERED NUMBER:

03212231 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Chartered Accountants

& Statutory Auditors

Suite 2d

Building 1 Eastern Business Park

St Mellons

Cardiff

South Glamorgan

CF3 5EA

FIXED ASSETS

Intangible assets

4

28

62

Tangible assets

5

6,913

4,012

6,941

4,074

CURRENT ASSETS

Stocks

6

30,499

40,068

Debtors

7

282,529

258,028

Cash at bank and in hand

93,732

598,462

406,760

896,558

CREDITORS

Amounts falling due within one year

8

295,256

447,993

NET CURRENT ASSETS

111,504

448,565

TOTAL ASSETS LESS CURRENT LIABILITIES

118,445

452,639

CAPITAL AND RESERVES

Called up share capital

9

2,000

2,000

Share premium

73,352

73,352

Retained earnings

43,093

377,287

SHAREHOLDERS' FUNDS

118,445

452,639

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:

Mr F Waaga - Director

1.	STATUTORY INFORMATION

S. Karger Publishers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Merchant House, 5 East St Helen Street, Abingdon, OX14 5EG.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue is recognised via stage of completion of a contract to publish a specific book for a particular client. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of books is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer (usually on dispatch of the goods) by way of stage of completion, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Trademark - 10% on cost

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment where all books not sold for more than 5 years are provided for in the accounts. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 balance sheet 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 and cash and bank balances, 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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 for suppliers. Amounts 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.

Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 expenses when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

50,000

2,798

52,798

AMORTISATION

At 1 January 2024

50,000

2,736

52,736

Amortisation for year

-

34

34

At 31 December 2024

50,000

2,770

52,770

NET BOOK VALUE

At 31 December 2024

-

28

28

At 31 December 2023

-

62

62

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

72,507

Additions

6,995

At 31 December 2024

79,502

DEPRECIATION

At 1 January 2024

68,495

Charge for year

4,094

At 31 December 2024

72,589

NET BOOK VALUE

At 31 December 2024

6,913

At 31 December 2023

4,012

6.

STOCKS

31.12.24

31.12.23

£

£

Stocks

30,499

40,068

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

273,886

240,085

Other debtors

3,570

3,570

VAT

2,219

8,987

Prepayments and accrued income

2,854

5,386

282,529

258,028

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

37,639

21,907

Amounts owed to group undertakings

22,058

127,122

Tax

-

42,606

Social security and other taxes

39,123

36,958

Other creditors

143

-

Accruals and deferred income

196,293

219,400

295,256

447,993

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2,000

Ordinary

£1

2,000

2,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Ingram FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

11.	RELATED PARTY TRANSACTIONS

Transactions with related parties

As a wholly owned subsidiary undertaking of S. Karger AG, the company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 'The financial applicable in the UK and Republic of Ireland, not to disclose related party transactions with wholly owned subsidiaries.

12.	PARENT COMPANY

The ultimate controlling party is S. Karger AG, a company incorporated in Switzerland.