Quintessence Publishing Company Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

Quintessence Publishing Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01610710 . The registered office is Quintessence House Grafton Road, New Malden, Surrey, KT3 3AB.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Significant judgements and estimations

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

3.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Over 50 Year
Plant & Machinery	25% per annum, reducing balance
Fixtures & Fittings	25% per annum, reducing balance

3.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs and an appropriate allocation of production overheads, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

3.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Quintessence Publishing Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired.

Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.Debtors do not carry interest and are stated at their nominal value.Trade creditors are not interest-bearing and are stated at their nominal value.Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date.

If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

3.8. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

4. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 6)

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Quintessence Publishing Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	218,342	61,275	56,097	335,714

As at 31 December 2024	218,342	61,275	56,097	335,714

Depreciation
As at 1 January 2024	112,195	61,275	54,168	227,638
Provided during the period	4,367	-	482	4,849

As at 31 December 2024	116,562	61,275	54,650	232,487

Net Book Value
As at 31 December 2024	101,780	-	1,447	103,227

As at 1 January 2024	106,147	-	1,929	108,076

6. Stocks

	2024	2023
	£	£
Stock	250,160	269,623

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,882	16,694
Amounts owed by group undertakings	4,558	9,354
Other debtors	23,593	33,299

	33,033	59,347

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	66,062	45,852
Bank loans and overdrafts	10,000	10,000
Amounts owed to group undertakings	39,475	25,165
Other creditors	18,893	16,673
Taxation and social security	8,641	10,128

	143,071	107,818

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	12,614	23,333

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Quintessence Publishing Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	22,614		23,333

11. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Bank loans	10,000	10,000

	2024	2023
	£	£
Amounts falling due between one and five years:
Bank loans	12,614	23,333

A bounce back bank loan, 100% of which is secured by a government backed guarantee, is for a period of 5 years after the loan was drawn, with a 12 month payment holiday at the start of the loan. The interest rate is 2.5% .

12. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100,000	100,000

13. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

14. Controlling Parties

The Company's ultimate and immediate parent undertaking is Quintessenz Verlags Gmbh (incorporated in Germany). Its registered office is PO Box D-12107 2-4 Ifenpfad Berlin Germany .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is Quintessenz Verlags Gmbh by virtue of their interest in the share capital of the company.

15. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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Quintessence Publishing Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

16. Audit Information

The auditor's report on the accounts of Quintessence Publishing Company Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Robert Green (Senior Statutory Auditor) for and on behalf of Green & Peter , Statutory Auditor.

Green & Peter

The Limes

1339 High Road

Whetstone

London

N20 9HR

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		103,227		108,076

			103,227		108,076
CURRENT ASSETS
Stocks	6	250,160		269,623
Debtors	7	33,033		59,347
Cash at bank and in hand		72,131		81,441

		355,324		410,411
Creditors: Amounts Falling Due Within One Year	8	(143,071 )		(107,818 )

NET CURRENT ASSETS (LIABILITIES)			212,253		302,593

TOTAL ASSETS LESS CURRENT LIABILITIES			315,480		410,669

Creditors: Amounts Falling Due After More Than One Year	9		(12,614 )		(23,333 )

NET ASSETS			302,866		387,336

CAPITAL AND RESERVES
Called up share capital	12		100,000		100,000
Profit and Loss Account			202,866		287,336

SHAREHOLDERS' FUNDS			302,866		387,336