IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Kentish Buildings
125 Borough High Street
London
SE1 1NP
 

Principal activity

The principal activity of the Company is magazine publishing, advertising, events and other related activities.

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal 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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has not prepared consolidated financial statements as the group qualifies as a small group because the group figures are below the threshold required for preparing consolidated financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services, advertising, and subscriptions in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Revenue from subscriptions is deferred and recognised in the profit or loss account on a straight line basis over the period of subscription.

The company provides an internet database service whereby customers can access a database of asset managers. Customers can purchase a number of "credits" allowing them to access the service that number of times. Such credits can be used at anytime within two years of purchase. No amounts are refundable to customers and there is no marginal cost to the company for the use of the database. Income in respect of credits purchased in the period is deferred to the extent that it is expected that those credits will be redeemed in subsequent periods.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25-33% straight line

IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

Intangible assets

Website costs are shown at historical cost.

Website costs have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	25% straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Classification
The Company only enters into basic financial instruments 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, loans to related 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.
 

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

3	Significant judgements and key sources of estimation uncertainty

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements.

Key sources of estimation uncertainty

The annual amortisation charge for intangible assets is sensitive to changes in the useful economic lives and residual values of the assets. The useful lives and residual values are reassessed annually. The carrying amount is £215,953 (2023 -£308,780).

4	Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was Hannah Fowlie, who signed for and on behalf of Bourner Bullock.

5	Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 40 (2023 - 41).

6	Intangible assets

	Website  £	Total £
Cost
At 1 January 2024	651,798	651,798
Additions	43,623	43,623
At 31 December 2024	695,421	695,421
Amortisation
At 1 January 2024	343,018	343,018
Amortisation charge	136,450	136,450
At 31 December 2024	479,468	479,468
Carrying amount
At 31 December 2024	215,953	215,953
At 31 December 2023	308,780	308,780

IPE International Publishers Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

7	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 January 2024	77,582	77,582
Additions	13,630	13,630
At 31 December 2024	91,212	91,212
Depreciation
At 1 January 2024	43,321	43,321
Charge for the year	18,015	18,015
At 31 December 2024	61,336	61,336
Carrying amount
At 31 December 2024	29,876	29,876
At 31 December 2023	34,261	34,261

8	Investments

	2024 £	2023 £
Investments in subsidiaries	323,554	323,554