REGISTERED NUMBER: 04931527 (England and Wales)

Spear Publishing Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W E Crocker

L W Danson

REGISTERED OFFICE:

Studio 5 Salters House

156 High Street

Hull

East Yorkshire

HU1 1NQ

REGISTERED NUMBER:

04931527 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

CURRENT ASSETS

Stocks

21,165

12,405

Debtors

5

919,577

1,190,350

940,742

1,202,755

CREDITORS

Amounts falling due within one year

6

2,156,674

2,502,528

NET CURRENT LIABILITIES

(1,215,932

)

(1,299,773

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,215,932

)

(1,299,773

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(1,215,933

)

(1,299,774

)

SHAREHOLDERS' FUNDS

(1,215,932

)

(1,299,773

)

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 25th September 2025 and were signed on its behalf by:

W E Crocker - Director

1.	STATUTORY INFORMATION

Spear 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.

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, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented unless otherwise stated.

Going Concern

At the year end the company reported net current liabilities of £1,215,932 (2023: £1,299,773) which gives rise to a going concern risk. Accordingly, the directors have prepared financial forecasts covering a period of 12 months from the date of approval of these financial statements in conjunction with a turnaround plan for the business. The financial forecasts show that the business remains reliant on the continued financial support from the company's ultimate controlling party. An undertaking has therefore been received from the ultimate controlling party pledging their continued financial support through a period of 12 months from the date of approval of these financial statements. The above factors have led the directors to conclude that the going concern basis remains appropriate.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the invoiced value of goods sold and services provided during the period, stated net of Value Added Tax. Subscription revenue is allocated to the relevant accounting periods covered by the subscription. The Directors have not disclosed the company's turnover by geographical location, as it is considered this would seriously prejudice the company's interests.

Tangible fixed assets

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

Plant and machinery etc

-

Straight line over 3 years

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

8,300

DEPRECIATION

At 1st January 2024

and 31st December 2024

8,300

NET BOOK VALUE

At 31st December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

98,093

23,960

Amounts owed by group undertakings

781,151

1,112,239

Other debtors

40,333

54,151

919,577

1,190,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

95

204

Trade creditors

89,985

88,218

Amounts owed to group undertakings

1,574,003

1,906,458

Taxation and social security

57,895

54,404

Other creditors

434,696

453,244

2,156,674

2,502,528

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary Shares

£0.01

1

1

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

The Report of the Auditors was unqualified.

Stephen Bramall BSc FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The group and company also entered into transactions in the ordinary course of business with other companies under common control. All transactions were at market value. The balance due from and to companies under common control are shown as related party balances with the notes to these financial statements.

Within other creditors are loans from M Danson totalling £24,999 (2023: £24,999). The loans are interest free, have no set repayment date and are repayable on demand. The loan notes are convertible at any time at the option of the loan note holder to ordinary shares of value equivalent to any outstanding balances on loans.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Danson.

The company's ultimate parent company is Estel Media Holdco Limited, which is the smallest and

largest group in which the company's results are consolidated. The registered office is Studio 5 SaltersHouse, 156 High Street, Hull, HU1 1NQ.