Penton Publications Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI029000

Penton Publications Limited

Filleted Unaudited Financial Statements

For

30 December 2024

Penton Publications Limited

Statement of Financial Position

30 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	7	35,448	48,770
Investments	8	295,496	295,496
		---------	---------
		330,944	344,266

Current assets

Debtors	9	94,275	156,797
Cash at bank and in hand		11,964	233,045
		---------	---------
		106,239	389,842

Creditors: amounts falling due within one year	10	311,064	574,787
		---------	---------
Net current liabilities		204,825	184,945
		---------	---------
Total assets less current liabilities		126,119	159,321

Provisions

Taxation including deferred tax	5,869	5,869
	---------	---------
Net assets	120,250	153,452
	---------	---------

Capital and reserves

Called up share capital	11	100	100
Profit and loss account		120,150	153,352
		---------	---------
Shareholders funds		120,250	153,452
		---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 30th 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 .

Penton Publications Limited

Statement of Financial Position (continued)

30 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

MR WJ PENTON MRS WE PENTON

Director Director

Company registration number: NI029000

Penton Publications Limited

Notes to the Financial Statements

Year ended 30th December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Penton House, 9 Heron Avenue, Belfast, BT3 9LF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.

Income tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

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 the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Fixtures & Fittings	-	25% straight line
Motor Vehicles	-	25% straight line
Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets 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 as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 14 (2023: 16 ).

5. Taxation on ordinary activities

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	4,686	2,238
Adjustments in respect of prior periods	( 142)	1,405
	-------	-------
Total current tax	4,544	3,643
	-------	-------
	-------	-------
Taxation on ordinary activities	4,544	3,643
	-------	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	11,342	15,033
	--------	--------
Profit on ordinary activities by rate of tax	2,155	2,856
Effect of expenses not deductible for tax purposes	2,531	2,642
Effect of capital allowances and depreciation	–	( 3,260)
Utilisation of tax losses	( 142)	1,405
	--------	--------
Tax on profit	4,544	3,643
	--------	--------

6. Dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	40,000	–
	--------	----

7. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 31st December 2023 and 30th December 2024	218,122	11,762	243,213	473,097
	---------	--------	---------	---------
Depreciation
At 31st December 2023	203,058	9,455	211,814	424,327
Charge for the year	3,717	364	9,241	13,322
	---------	--------	---------	---------
At 30th December 2024	206,775	9,819	221,055	437,649
	---------	--------	---------	---------
Carrying amount
At 30th December 2024	11,347	1,943	22,158	35,448
	---------	--------	---------	---------
At 30th December 2023	15,064	2,307	31,399	48,770
	---------	--------	---------	---------

8. Investments

	Other investments other than loans
	£
Cost
At 31st December 2023 and 30th December 2024	295,496
	---------
Impairment
At 31st December 2023 and 30th December 2024	–
	---------

Carrying amount
At 30th December 2024	295,496
	---------
At 30th December 2023	295,496
	---------

Investments represent amounts paid to acquire the titles to two magazines.

The directors are of the opinion that the investment is worth at least that amount shown in the balance sheet.

9. Debtors

	2024	2023
	£	£
Trade debtors	87,391	146,860
Other debtors	6,884	9,937
	--------	---------
	94,275	156,797
	--------	---------

10. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	95,660	301,289
Trade creditors	58,227	82,852
Amounts owed to group undertakings and undertakings in which the company has a participating interest	113,791	110,049
Corporation tax	4,686	18,460
Social security and other taxes	38,048	54,217
Other creditors	652	7,920
	---------	---------
	311,064	574,787
	---------	---------

The bank loan is secured by a first debenture over the assets and undertakings of Penton Publications Limited with a specific fixed charge over the property. The bank loan is secured by a first debenture over the assets and undertakings of Penton Publications Limited with a specific fixed charge over the property.

11. Called up share capital

Authorised share capital

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	50,000	50,000	50,000	50,000
	--------	--------	--------	--------

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

12. Related party transactions

The company was under the control of Mr WJ Penton throughout the current and previous year. Mr Penton is the managing director and majority shareholder. During the year the company received services from related companies, Penton Exhibitions Limited and Cactus PR & Communications Limited. The companies are related by virtue of having common director shareholders.

13. Controlling party

The company is a private company, limited by shares. It is registered in Northern Ireland ( NI029000 ) with its registered office at Penton House, 9 Heron Avenue, Belfast, Northern Ireland, BT3 9LF.