Registered number
10204110
Time Well Spent Group Limited (formerly Fieldsports Press Limited)
Unaudited Filleted Accounts
30 April 2025

Time Well Spent Group Limited (formerly Fieldsports Press Limited)
Balance Sheet
as at 30 April 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Intangible assets | 4 |  |  | 334,509 |  |  | 162,266
Tangible assets | 5 |  |  | 95,950 |  |  | 62,378
Investments | 6 |  |  | 1 |  |  | 1
|  |  |  | 430,460 |  |  | 224,645
Current assets
Stocks |  |  | 20,580 |  |  | 26,226
Debtors | 7 |  | 683,837 |  |  | 435,731
Cash at bank and in hand |  |  | 116,635 |  |  | 136,199
|  |  | 821,052 |  |  | 598,156
Creditors: amounts falling due within one year | 8 |  | (1,374,982) |  |  | (720,148)
Net current liabilities |  |  |  | (553,930) |  |  | (121,992)
Total assets less current liabilities |  |  |  | (123,470) |  |  | 102,653
Creditors: amounts falling due after more than one year | 9 |  |  | (816,228) |  |  | (795,514)
Net liabilities |  |  |  | (939,698) |  |  | (692,861)
Capital and reserves
Called up share capital |  |  |  | 100 |  |  | 100
Profit and loss account |  |  |  | (939,798) |  |  | (692,961)
Shareholders' funds |  |  |  | (939,698) |  |  | (692,861)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S K Barr
Director
Approved by the board on 19 January 2026
Company registration number: |  |  | 10204110

Time Well Spent Group Limited (formerly Fieldsports Press Limited)
Notes to the Accounts
for the year ended 30 April 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
| Going concern
| The company reported a deficiency on net assets at 30 April 2025 of £939,698 (2024: £692,861). However, in arriving at this figure Creditors: amounts falling due in more than 12 months amounted to £816,228 (2024: £795,514).
| The directors have prepared forecasts covering a period of greater than twelve months from the date of their approval of these financial statements. The directors consider that the company will have adequate resources to continue in operational existence for the foreseeable future and, accordingly, continue to adopt the going concern basis in preparing the financial statements.
| 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
| Intangible fixed assets
| Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
| Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
| Goodwill | 10% straight line
| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Leasehold improvements | 33% straight line
| Equipment | 33% straight line
| Motor vehicles | 25% straight line
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
| Foreign currency translation
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
| Leased assets
| A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
| Pensions
| Contributions to defined contribution plans are expensed in the period to which they relate.
2 | Profit before taxation | 2025 |  | 2024
£ | £
| Profit before taxation is stated after charging
| Depreciation of tangible assets | 33,449 |  | 24,222
| Amortisation and impairment of intangible assets | 46,008 |  | 48,422
3 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 25 |  | 11
4 | Intangible fixed assets
|  |  |  | Goodwill | Software costs | Total
£ | £ | £
| Cost
| At 1 May 2024 | 265,688 |  | - |  | 265,688
| Additions | 171,313 |  | 7,920 |  | 179,233
| Transfer from subsidiary | 49,285 |  | - |  | 49,285
| At 30 April 2025 | 486,286 |  | 7,920 |  | 494,206
| Amortisation
| At 1 May 2024 | 103,422 |  | - |  | 103,422
| Provided during the year | 45,216 |  | 792 |  | 46,008
| Transfer from subsidiary | 10,267 |  | - |  | 10,267
| At 30 April 2025 | 158,905 |  | 792 |  | 159,697
| Net book value
| At 30 April 2025 | 327,381 |  | 7,128 |  | 334,509
| At 30 April 2024 | 162,266 |  | - |  | 162,266
| Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
| In July 2024 the company purchased from David Hall Publishing Limited, the business and assets relating to the following titles Gun Trade World, Gun Mart, What Gun and The Sporting Airgun Handbook.
5 | Tangible fixed assets
|  | Leasehold Improvements |  | Equipment and exhibition stand |  | Motor vehicles |  | Total
£ | £ | £ | £
| Cost
| At 1 May 2024 | 2,850 |  | 91,728 |  | 43,500 |  | 138,078
| Additions | - |  | 67,021 |  | - |  | 67,021
| At 30 April 2025 | 2,850 |  | 158,749 |  | 43,500 |  | 205,099
| Depreciation
| At 1 May 2024 | 1,983 |  | 65,561 |  | 8,156 |  | 75,700
| Charge for the year | 639 |  | 21,935 |  | 10,875 |  | 33,449
| At 30 April 2025 | 2,622 |  | 87,496 |  | 19,031 |  | 109,149
| Net book value
| At 30 April 2025 | 228 |  | 71,253 |  | 24,469 |  | 95,950
| At 30 April 2024 | 867 |  | 26,167 |  | 35,344 |  | 62,378
6 | Investments
Investments in
subsidiary
undertakings
£
| Cost
| At 1 May 2024 | 1
| At 30 April 2025 | 1
7 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 284,206 |  | 95,931
| Amounts owed by group undertakings and undertakings in which the company has a participating interest |  | 194,091 |  | 155,350
| Taxation and social security costs |  | 23,412 |  | -
| Other debtors | 182,128 |  | 184,450
|  |  |  |  |  | 683,837 |  | 435,731
8 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Bank loans and overdrafts | 10,000 |  | 10,000
| Trade creditors | 320,984 |  | 70,437
| Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | - |  | 1
| Taxation and social security costs | 25,774 |  | 7,772
| Obligations under finance leases and hire purchase contracts | 9,538 |  | 9,538
| Other creditors | 1,008,686 |  | 622,400
|  |  |  |  |  | 1,374,982 |  | 720,148
| On 17 April 2023 the company received a loan of £500,000 from Migratory Media LLC, a company incorporated in the USA. This loan is accruing interest at a rate of 10.49877% per annum, repayable over three years from 31 October 2023. The balance outstanding at 30 April 2025 is £247,910 (2024 - £402,778).
| The company took out a Bounce Back Loan in 2020 of £50,000, repayable over 5 years at an interest rate of 2.42%. The company took advantage of a payment holiday for 6 months on the bank loan, and repayments recommenced in October 2023.
9 | Creditors: amounts falling due after one year | 2025 |  | 2024
£ | £
| Bank loans | 5,834 |  | 15,834
| Obligations under finance lease and hire purchase contracts | 17,902 |  | 23,058
| Other creditors | 792,492 |  | 756,622
|  |  |  |  |  | 816,228 |  | 795,514
| Included in other creditors is a interest bearing loan from Gordy & Sons, a company incorporated in the USA. The loan of $264,955 is accruing interest at a rate of 10.49877% per annum.
| On 17 April 2023 the company received a loan of £500,000 from Migratory Media LLC, a company incorporated in the USA. This loan is accruing interest at a rate of 10.49877% per annum, repayable over three years from 31 October 2023. The balance outstanding at 30 April 2025 is £247,910 (2024 - £402,778).
| The company took out a Bounce Back Loan in 2020 of £50,000, repayable over 5 years at an interest rate of 2.42%. The company took advantage of a payment holiday for 6 months on the bank loan, and repayments recommenced in October 2023.
10 | Loans to directors
| Description and conditions | B/fwd | Paid | Repaid | C/fwd
£ | £ | £ | £
| Mrs S E Barr | 9,125 |  |  |  | - |  | 9,125
| Mr S K Barr | 9,125 |  | 48,092 |  | (10,000) |  | 47,217
|  | 18,250 |  | 48,092 |  | (10,000) |  | 56,342
| These loans are interest free and repayable on demand.
11 | Related party transactions
| The company received public relations and administrative services from Tweed Media Limited, a company registered in England and Wales, of which Mr & Mrs Barr are both directors and shareholders. The amount invoiced by Tweed Media Limited during the year was £332,057 (2024 - £41,850). The amount owing to Tweed Media at the end of the year was £156,478 (2024 - £15,117).
| During the year the company invoiced Tweed Media Limited for staff support amounting to £11,405 (2024 - £14,377). The amount owed by Tweed Media at the end of the year was £13,196 (2024 - £Nil).
| The company rents its office space in Edinburgh from Gnaton Capital Limited, a company registered in Scotland of which Mr Barr is a director and both Mr and Mrs Barr are shareholders. The amount invoiced by Gnaton Capital Limited during the year was £21,570 (2024 - £16,800). The amount owed to Gnaton Capital Limited at 30 April 2025 was £2,077 (2024 - £Nil).
| Included in other debtors is a balance of £8,000 due from Gnaton Capital Limited. This amount is interest free and repayable on demand .
12 | Controlling party
| The company is a wholly owned subsidiary of Macnab Holdings Limited, a company registered in England and Wales.
13 | Other information
| Time Well Spent Group Limited (formerly Fieldsports Press Limited) is a private company limited by shares and incorporated in England. Its registered office is:
| Jubilee House
| 92 Lincoln Road
| Peterborough
| PE1 2SN

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