1.
General Information
Nick Hern Books Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02767507
. The registered office is The Glasshouse, 49a Goldhawk Road, London, W12 8QP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
Fixed Asset Investments
Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Nick Hern Books Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5.
Taxation
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.
2.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
4.
Tangible Assets
| Land & Property | |||
|---|---|---|---|
| Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2024 |
|
|
|
| Additions |
|
|
|
| As at 31 December 2024 |
|
|
|
| Depreciation | |||
| As at 1 January 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 December 2024 |
|
|
|
| Net Book Value | |||
| As at 31 December 2024 |
|
|
|
| As at 1 January 2024 |
|
|
|
Nick Hern Books Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5.
Investments
| Other | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2024 |
|
| Revaluations |
|
| As at 31 December 2024 |
|
| Provision | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Net Book Value | |
| As at 31 December 2024 |
|
| As at 1 January 2024 |
|
Investments held at valuation
In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
2024
|
2023
|
||
|
Other investments
|
Other investments
|
||
|
£
|
£
|
||
|
Aggregate historical cost
|
850,000
|
850,000
|
|
|
Carrying amount
|
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850,000
|
850,000 |
|
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|
|
6.
Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 165,156 | 101,061 | |
|
|
|
||
Nick Hern Books Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 363,776 | 306,004 | |
| Taxation and social security |
|
|
|
|
|
|
||
8.
Reserves
Included within Other Reserves is the Fair Value Reserve as follows:
|
2024
|
2023
|
||
|
£
|
£
|
||
|
At start of year
|
37,443
|
-
|
|
|
Reclassification from fair value reserve to profit and loss account
|
30,456
|
37,443
|
|
|
|
|
||
|
At end of year
|
67,899
|
37,443
|