Read Books Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06702310 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Read Books Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

B Read

REGISTERED OFFICE:

14, The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

REGISTERED NUMBER:

06702310 (England and Wales)

ACCOUNTANTS:

Davies Archytas Accountants Ltd

14 The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

191,310

185,237

191,310

185,237

CURRENT ASSETS

Debtors

166,335

43,808

Cash at bank

65,903

153,554

232,238

197,362

CREDITORS

Amounts falling due within one year

145,488

60,760

NET CURRENT ASSETS

86,750

136,602

TOTAL ASSETS LESS CURRENT
LIABILITIES

278,060

321,839

CREDITORS

Amounts falling due after more than one
year

6

26,390

31,945

NET ASSETS

251,670

289,894

CAPITAL AND RESERVES

Called up share capital

8

106

Retained earnings

251,564

289,788

SHAREHOLDERS' FUNDS

251,670

289,894

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 director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2025 and were signed by:

B Read - Director

1.	STATUTORY INFORMATION

Read Books 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold land

-

Nil

Buildings

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Freehold land

Freehold land is not depreciated, because such land is deemed to have an unlimited useful life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

200,000

AMORTISATION

At 1 January 2024

and 31 December 2024

200,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

254,577

Additions

17,906

At 31 December 2024

272,483

DEPRECIATION

At 1 January 2024

69,340

Charge for year

11,833

At 31 December 2024

81,173

NET BOOK VALUE

At 31 December 2024

191,310

At 31 December 2023

185,237

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

31.12.24

31.12.23

£

Repayable by instalments

Bank loans more than 5 years

by instalments

4,167

9,722

4,167

9,722

7.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

Amounts falling due within one year or on demand:

Bank loans

5,556

Amounts falling due between one and two years:

Bank loans - 1-2 years

5,556

Amounts falling due between two and five years:

Bank loans - 2-5 years

16,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

4,167

9,722

4,167

9,722

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary A

£1

100

6

Ordinary B

£1

6

106

9.	RELATED PARTY DISCLOSURES

Read Publishing Limited, an associated company is also controlled by the director and controlling party, B Read.

The amount due to the related party at the balance sheet date - £7,308 (2023 - £2,651).

During the year the company charged management fees amounting to £0 (2023 £10,000) to Read Publishing Limited.

10.	ULTIMATE CONTROLLING PARTY

The controlling party throughout the year was the director, B Read by virtue of his 90% holding of the issued controlling ordinary share capital of the company.