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African Books Collective Limited
Company limited by guarantee
Filleted accounts
31 December 2024
Company registration number: 02444113
African Books Collective Limited
Company limited by guarantee
Directors and other information
Directors S Kitchen
N A Parkes
D S Mills
Company number 02444113
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
African Books Collective Limited
Company limited by guarantee
Balance sheet
31st December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 839 2,171
_______ _______
839 2,171
Current assets
Debtors 6 48,112 60,190
Cash at bank and in hand 158,655 38,192
_______ _______
206,767 98,382
Creditors: amounts falling due
within one year 7 ( 129,253) ( 30,585)
_______ _______
Net current assets 77,514 67,797
_______ _______
Net assets 78,353 69,968
_______ _______
Capital and reserves
Profit and loss account 78,353 69,968
_______ _______
Members funds 78,353 69,968
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:
S Kitchen
Director
Company registration number: 02444113
African Books Collective Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31st December 2024
1. General information
The company is a private company limited by guarantee, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be the promotion and dissemination of African-published material in the major English language book markets outside Africa. The company's Articles of Association prohibit the distribution of assets to members. In the event of the dissolution of the company, any remaining assets are required to be distributed to another organisation with similar objects to the company and which also does not permit the distribution of assets to its members.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.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.Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment - Reducing balance basis at 25% per annum
Computer - Straight line basis at 25% per annum
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures, fittings and equipment
£
Cost
At 1st January 2024 27,451
Disposals ( 25,702)
_______
At 31st December 2024 1,749
_______
Depreciation
At 1st January 2024 25,280
Charge for the year 437
Disposals ( 24,807)
_______
At 31st December 2024 910
_______
Carrying amount
At 31st December 2024 839
_______
At 31st December 2023 2,171
_______
6. Debtors
2024 2023
£ £
Trade debtors 45,877 57,276
Other debtors 2,235 2,914
_______ _______
48,112 60,190
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 104,912 13,781
Social security and other taxes 7,366 9,032
Other creditors 16,975 7,772
_______ _______
129,253 30,585
_______ _______