REGISTERED NUMBER: 02611547 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

ROUTE ONE PUBLISHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Adshead

A N Barriball

SECRETARY:

G E C Hadwick

REGISTERED OFFICE:

83 Cambridge Street

Pimlico

London

SW1V 4PS

REGISTERED NUMBER:

02611547 (England and Wales)

ACCOUNTANTS:

George Hay & Company

Chartered Accountants

83 Cambridge Street

London

SW1V 4PS

FIXED ASSETS

Intangible assets

4

-

3,433

Tangible assets

5

10,342

25,800

Investments

6

80

79

10,422

29,312

CURRENT ASSETS

Debtors

7

1,072,415

1,101,918

Cash at bank and in hand

79,533

95,453

1,151,948

1,197,371

CREDITORS

Amounts falling due within one year

8

579,314

725,998

NET CURRENT ASSETS

572,634

471,373

TOTAL ASSETS LESS CURRENT LIABILITIES

583,056

500,685

CREDITORS

Amounts falling due after more than one year

9

(100,537

)

(235,333

)

PROVISIONS FOR LIABILITIES

(93,935

)

-

NET ASSETS

388,584

265,352

CAPITAL AND RESERVES

Called up share capital

35,834

35,834

Share premium

40,596

40,596

Retained earnings

312,154

188,922

SHAREHOLDERS' FUNDS

388,584

265,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 29th September 2025 and were signed on its behalf by:

A N Barriball - Director

1.	STATUTORY INFORMATION

Route One 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.

Preparation of consolidated financial statements

The financial statements contain information about Route One Publishing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover comprises amounts invoiced in respect of goods and services supplied during the period excluding Value Added Tax. Subscriptions are accounted for in the period to which they relate. Subscriptions for future periods are carried forward in the balance sheet as deferred income.

Intangible fixed assets

The cost of these assets are amortised over the period of time from which benefits are expected to accrue. The period of amortisation will be subject to review as will the valuation and it is the policy of the directors to revalue these assets, should this be appropriate.

Tangible fixed assets

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

Improvements to property

-

Straight line over 3 years

Fixtures, fittings & equipment

-

Straight line over 3 years

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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

Taxation

Taxation for the year comprises current and deferred tax. 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 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.

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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2024

752,272

110,317

862,589

Disposals

-

(110,317

)

(110,317

)

At 31st December 2024

752,272

-

752,272

AMORTISATION

At 1st January 2024

752,272

106,884

859,156

Charge for year

-

2,575

2,575

Eliminated on disposal

-

(109,459

)

(109,459

)

At 31st December 2024

752,272

-

752,272

NET BOOK VALUE

At 31st December 2024

-

-

-

At 31st December 2023

-

3,433

3,433

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

fittings

Computer

property

& equipment

equipment

Totals

£

£

£

£

COST

At 1st January 2024

24,643

6,696

129,238

160,577

Additions

-

609

2,381

2,990

Disposals

-

-

(26,568

)

(26,568

)

At 31st December 2024

24,643

7,305

105,051

136,999

DEPRECIATION

At 1st January 2024

14,748

3,056

116,973

134,777

Charge for year

8,168

2,266

7,922

18,356

Eliminated on disposal

-

-

(26,476

)

(26,476

)

At 31st December 2024

22,916

5,322

98,419

126,657

NET BOOK VALUE

At 31st December 2024

1,727

1,983

6,632

10,342

At 31st December 2023

9,895

3,640

12,265

25,800

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1st January 2024

79

Exchange differences

1

At 31st December 2024

80

NET BOOK VALUE

At 31st December 2024

80

At 31st December 2023

79

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

375,014

370,451

Amounts owed by group undertakings

663,243

688,913

Amounts owed by associates

923

163

Tax

1,417

1,335

VAT

3,524

-

Prepayments and accrued income

28,294

41,056

1,072,415

1,101,918

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

133,333

381,479

Hire purchase contracts (see note 10)

2,429

5,999

Trade creditors

67,560

56,688

Tax

2,149

-

Social security and other taxes

31,406

32,877

VAT

-

5,818

Other creditors

4,563

198

Directors' current accounts

60,000

60,000

Accruals and deferred income

277,874

182,939

579,314

725,998

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

100,000

133,333

Bank loans 2-3 years

-

100,000

Hire purchase contracts (see note 10)

537

2,000

100,537

235,333

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

2,429

5,999

Between one and five years

537

2,000

2,966

7,999

Non-cancellable

operating leases

2024

2023

£

£

Within one year

27,500

27,500

Between one and five years

110,000

110,000

In more than five years

55,000

82,500

192,500

220,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

233,333

366,666

Hire purchase contracts

2,966

7,999

236,299

374,665

The company's bankers have registered a fixed and floating charge over the assets of the company securing all monies and liabilities due to the bank by the company.

12.	CONTINGENT LIABILITIES

There are potential material liabilities payable by the company to its existing directors arising from past activities where a constructive obligation may arise. These liabilities will crystalise in the future, only when certain financial conditions are met. At the reporting date it is not possible to assess if and when these obligations would become payable. The potential liabilities due to the two directors' amount to £162,500 in total (Mr. R Adshead - £100,000 and Mr. A Barriball - £62,500).

13.	SHARE OPTIONS

On 5 November 2008 a maximum of 3,982 options were granted to one employee with an exercise price of £10.12 and the outcome linked to annual performance of the company. Of these 2,654 have vested and the remainder have lapsed. No options have been exercised at 31 December 2024 (31 December 2023 - nil).