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Registration number: 04134490

Sundial Magazines Limited
Filleted Financial Statements
for the Year Ended 31 March 2025

Sundial Magazines Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Financial Statements | 3 to 10

Sundial Magazines Limited

Company Information

Directors | Paul J Cosgrove Peter J Cosgrove R P Cosgrove M C Attis

Registered office | 163 Herne Hill London SE24 9LR

Auditors | Innovi Advisors Ltd Chartered Certified Accountants and Statutory Auditors163 Herne Hill London SE24 9LR

Sundial Magazines Limited

(Registration number: 04134490)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Intangible assets | 6 | 75,922 | 85,110
Tangible assets | 7 | 3,637 | 5,117
Investments | 8 | 528,606 | 528,606
|  | 608,165 | 618,833
Current assets |  |  |
Debtors | 9 | 343,992 | 424,678
Cash at bank and in hand |  | 2,844,101 | 3,150,665
|  | 3,188,093 | 3,575,343
Creditors: Amounts falling due within one year | 11 | (895,907) | (990,079)
Net current assets |  | 2,292,186 | 2,585,264
Net assets |  | 2,900,351 | 3,204,097
Capital and reserves |  |  |
Called up share capital |  | 250,000 | 250,000
Capital redemption reserve |  | 250,000 | 250,000
Retained earnings |  | 2,400,351 | 2,704,097
Shareholders' funds |  | 2,900,351 | 3,204,097

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement .

Approved and authorised by the Board on 19 January 2026 and signed on its behalf by:

R P Cosgrove Director | M C Attis Director |

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

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:
163 Herne Hill
London
SE24 9LR

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.
The results shown are those of the individual company and are not consolidated.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Research and development

Research and development expenditure is written off as incurred, except that development expenditure incurred on an individual project is carried forward when its recoverability can be foreseen with reasonable assurance. Any expenditure carried forward is amortised in line with the sales from the related project.

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.

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Going concern

As part of the directors' assessment of going concern, they have prepared detailed cash flow and profit and loss forecasts for the next 12 months. The forecasts have been prepared on an appropriate basis, taking into account the current economic conditions that exist.
After making appropriate enquires, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 19 January 2026 was Sheetal Shah FCCA, who signed for and on behalf of Innovi Advisors Ltd.

.........................................

Government grants

Government and other grants are recognised as income when there is reasonable assurance that the grants or contributions will be received and the conditions attaching to the grants or contribution have been met. Monies advanced as grants and contributions for which conditions have not been satisfied are carried in the Balance Sheet as creditors. When conditions are satisfied, the grant or contribution is credited to income.

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.

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of 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
Computer Equipment | 33.33%
Plant and machinery | 25%
Fixtures and Fittings | 20%
Motor Vehicle | 25%

Disposal of magazine titles

During the year, the Company sold two of its magazine titles and related publishing rights for cash consideration of £47,606. The title was not recognised as an intangible asset in prior periods; accordingly, the net proceeds (after legal and transaction costs) have been recognised as a gain in profit or loss. Costs not directly attributable to the transaction (e.g., postage/phone/cancellation charges) were expensed as administrative costs. The related corporation tax has been provided for in the period.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.

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.

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
Goodwill | 10% on Straight line basis

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.Directors believe that value of shares in subsidiary is valued correctly.
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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

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.

Financial instruments

Classification
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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2024 - 13).

4 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 4,900 | 4,900

5 | Profit before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 1,480 | 2,106
Amortisation expense | 9,188 | 6,772

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

6 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 91,882 | 91,882
At 31 March 2025 | 91,882 | 91,882
Amortisation
At 1 April 2024 | 6,772 | 6,772
Amortisation charge | 9,188 | 9,188
At 31 March 2025 | 15,960 | 15,960
Carrying amount
At 31 March 2025 | 75,922 | 75,922
At 31 March 2024 | 85,110 | 85,110

7 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 3,390 | 18,931 | 69,398 | 23,591 | 115,310
At 31 March 2025 | 3,390 | 18,931 | 69,398 | 23,591 | 115,310
Depreciation
At 1 April 2024 | 3,389 | 18,118 | 66,992 | 21,694 | 110,193
Charge for the year | - | 204 | 802 | 474 | 1,480
At 31 March 2025 | 3,389 | 18,322 | 67,794 | 22,168 | 111,673
Carrying amount
At 31 March 2025 | 1 | 609 | 1,604 | 1,423 | 3,637
At 31 March 2024 | 1 | 813 | 2,406 | 1,897 | 5,117

8 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 528,606 | 528,606

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

8 | Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Granville Display Wig Limited | 163 Herne Hill, London, England, SE24 9LR United Kingdom | Ordinary | 100% | 100%

Subsidiary undertakings
Granville Display Wig Limited
Its financial period end is 31 March 2025. The profit for the financial period of Granville Display Wig Limited was £18,418 and the aggregate amount of capital and reserves at the end of the period was £87,052.

9 | Debtors

| 2025 £ | 2024 £
Trade debtors | 76,461 | 91,533
Prepayments | 91,032 | 121,684
Other debtors | 176,499 | 211,461
| 343,992 | 424,678

10 | Related party transactions

On 31st March 2022 the company acquired all of the shares in Granville Display Wig Limited. The company paid rent to Granville Display Wig Limited of £24,000 (2024: £24,000) on an arm length basis and as such from this date is considered to be a related party.

Sundial Magazines Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

11 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 227,327 | 200,231
Amounts owed to group undertakings | 10 | 77,858 | 60,176
Taxation and social security |  | 17,641 | 54,016
Accruals and deferred income |  | 558,701 | 662,342
Other creditors |  | 14,380 | 13,314
|  | 895,907 | 990,079