Company No:
Contents
| DIRECTORS | J D Hallock |
| M J Oakman (Resigned 01 November 2024) | |
| C R Jeffus | |
| K J Malley | |
| S J Olin (Resigned 01 November 2025) |
| SECRETARY | Gravitas Company Secretarial Services Limited |
| REGISTERED OFFICE | 5th Floor One New Change |
| London | |
| EC4M 9AF | |
| United Kingdom |
| COMPANY NUMBER | 05744408 (England and Wales) |
| AUDITOR | S&W Audit |
| Chartered Accountants & Statutory Auditor | |
| Statutory Auditor | |
| Onslow House | |
| Onslow Street | |
| Guildford | |
| GU1 4TL |
The directors present their Strategic Report for the financial year ended 31 December 2024.
Healthline Media UK Limited provides health information online via MedicalNewsToday.com. The Company’s content consists of articles and videos aimed to inform others on many aspects of a person’s physical well-being.
REVIEW OF THE BUSINESS
We believe that knowledge enables the pursuit of good health and well-being. Using peer reviewed studies, medical experts, and reputable sources, our writers and editors unravel the complexities of medical research and science, breaking it down to give users clear, objective, and accurate health information.
Through our content, we hope to inspire others to seek new knowledge, ask questions, and take healthy actions. We want others to feel confident in owning their health journey and in making informed decisions for themselves and their loved ones.
KEY PERFORMANCE INDICATORS ('KPIS')
The directors assess the performance of the business by reference to the following KPIs:
EBITDA - £9.9 million (2023 - £9.3 million)
Revenue - £13 million (2023 - £12.7 million)
The directors are satisfied with the Company's performance in the year.
PRINCIPAL RISKS AND UNCERTAINTIES
The principal risk of the business is associated with our rankings within online searches, which require constant search engine optimization by our engineers to ensure consistently high rankings. If our articles and videos are not ranking as one of the top search results, we will lose traffic to our website, resulting in reduced revenue. Particularly challenging is reacting to search engines such as Google that periodically update their search index algorithms which could cause our articles to trend lower on the list of most relevant subjects when being searched.
An additional and growing risk is the rapid adoption of AI technologies that are reshaping how users discover and consume health information. Search engines are increasingly integrating AI-generated summaries that present direct answers to medical queries, reducing click-through traffic to our articles even where rankings remain strong. Simultaneously, AI tools are enabling a significant increase in the volume of competing health content, placing further pressure on our search visibility. We continue to monitor these developments and adapt our content and technical strategies accordingly, though the pace of change in this area introduces meaningful uncertainty.
Approved by the Board of Directors and signed on its behalf by:
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J D Hallock
Director |
The directors present their annual report on the affairs of the Company, together with the financial statements and auditors’ report, for the financial year ended 31 December 2024.
FUTURE DEVELOPMENTS
There are no plans to materially change the Company's activities in the future.
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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(Resigned 01 November 2024) |
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(Resigned 01 November 2025) |
Financial instruments
The only significant exposure to risks arising from financial instruments relates to the foreign exchange risk associated with inter-company balances. which are primarily US dollar denominated. The Company does not hedge this risk as foreign exchange risks are managed on a group wide basis.
AUDITOR
Each of the persons who is a director at the date of approval of this report confirms that:
* So far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
* The director has taken all the steps that they ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
S&W Audit have expressed their willingness to continue in office as auditor and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.
Approved by the Board of Directors and signed on its behalf by:
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J D Hallock
Director |
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that financial period.
In preparing these financial statements, the directors are required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent;
* State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Report on the audit of the financial statements
We have audited the financial statements of Healthline Media UK Limited (the 'Company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet. Statement of Changes in Equity and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
• give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at Least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Report on other legal and regulatory requirements
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of Directors' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
As explained more fully in the Directors' responsibilities statement set out on page 6, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained a general understanding of the Company's legal and regulatory framework through enquiry of management in respect of their understanding of the relevant laws and regulations. We also obtained an understanding of the Company's policies and procedures in relation to compliance with relevant laws and regulations and drew on our existing understanding of the Company's industry and regulation.
We understand that the Company complies with the framework through:
• Updating operating procedures, manuals and internal controls as legal and regulatory requirements change
• Management oversight through regular meetings and compliance reporting
In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, those which are central to the Company's ability to conduct
operations and those where failure to comply could result in material penalties. We have identified that the requirements of the Companies Act 2006 in respect of the preparation and presentation of
the financial statements and FRS 102 are of significance in the context of the Company.
We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations above:
• Making enquiries with management as to the risks of non-compliance and whether there had been any non-compliance
• Reading minutes of meetings of those charged with governance
The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. The key area identified as part of the discussion was the management override of controls and revenue recognition. The procedures carried out to gain evidence included:
• Testing of a sample of manual journal entries, selected through applying specific risk assessments applied based on the Company's processes and controls surrounding manual journal entries
• Substantive work on revenue transactions
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Chartered Accountants & Statutory Auditor
Statutory Auditor
Onslow Street
Guildford
GU1 4TL
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Turnover | 3 |
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| Administrative expenses | (
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| Operating profit |
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| Interest receivable and similar income | 4 |
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| Profit before taxation | 5 |
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| Tax on profit | 8 | (
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| Profit for the financial year |
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The notes on pages 15 to 26 form part of these financial statements.
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 9 |
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| Tangible assets | 10 |
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| 867,729 | 990,038 | |||
| Current assets | ||||
| Debtors | 11 |
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| Cash at bank and in hand | 12 |
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| 28,099,355 | 19,039,556 | |||
| Creditors: amounts falling due within one year | 13 | (
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| Net current assets | 21,767,129 | 15,047,233 | ||
| Total assets less current liabilities | 22,634,858 | 16,037,271 | ||
| Provision for liabilities | (
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| Net assets | 22,481,552 | 16,010,144 | ||
| Capital and reserves | ||||
| Called-up share capital | 17 |
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| Profit and loss account | 16 |
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| Total shareholder's funds | 22,481,552 | 16,010,144 |
The financial statements of Healthline Media UK limited (registered number:
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J D Hallock
Director |
| Called-up share capital | Profit and loss account | Total | |||
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| At 01 January 2023 |
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| Profit for the financial year |
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| Total comprehensive income |
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| At 31 December 2023 |
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| At 01 January 2024 |
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| Profit for the financial year |
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| Total comprehensive income |
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| At 31 December 2024 |
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The notes on pages 15 to 26 form part of these financial statements.
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Healthline Media UK limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor One New Change, London, EC4M 9AF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006.
The functional currency of Healthline Media UK limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
Healthline Media UK limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it. Exemptions have been taken in relation to share-based payments, financial instruments, presentation of a Cash Flow Statement and remuneration of key management personnel.
This information is included in the consolidated financial statements of RV0 Health LLC as at 31 December 2024 and these financial statements may be obtained from 1101 Red Ventures Drive. Fort Mill. South Carolina. 29707-5005, USA
The financial statements have been prepared on a going concern basis.
The Directors have carefully reviewed the future prospects of the company and its future cash flows. The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at Least the next 12 months from signing of these financial statements.
For this reason the directors continue to adopt the going concern basis for the preparation of the Financial Statements.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
• the amount of turnover can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.
Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits: and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company as lessee
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Basic financial assets
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables. bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See notes 9 and 10 for the carrying amount of the tangible and intangible assets and the accounting policy notes for the useful lives of each class of asset the annual depreciation and amortisation charges for the assets is sensitive to changes in the estimated useful economic lives and residual values of the assets.
Turnover represents the fair value of goods/services provided to customers during the financial year excluding value added tax.
Breakdown by geographical market:
An analysis of the Company's turnover by geographical market is set out below.
| 2024 | 2023 | ||
| £ | £ | ||
| All turnover comes via US based group companies. | 12,978,244 | 12,691,624 |
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable and similar income |
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Profit before taxation is stated after charging/(crediting):
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| £ | £ | ||
| Depreciation of tangible fixed assets (note 10) |
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| Amortisation of intangible assets (note 9) |
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| Foreign exchange gains | (
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An analysis of the auditor's remuneration is as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the Company’s auditor and its associates for the audit of the Company's annual financial statements: | 32,235 | 30,700 | |
| Fees payable to the Company’s auditor and its associates for other services: | |||
| Other services | 6,663 | 6,345 | |
| Total audit fees |
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| 2024 | 2023 | ||
| Number | Number | ||
| The average monthly number of employees (including directors) was: | |||
| Website content editorial and sourcing |
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Their aggregate remuneration comprised:
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other retirement benefit costs |
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| 2,532,957 | 2,745,460 |
| 2024 | 2023 | ||
| £ | £ | ||
| Current tax on profit | |||
| UK corporation tax |
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| Adjustments in respect of previous periods |
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| Total current tax |
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| Deferred tax | |||
| Origination and reversal of timing differences |
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| Total deferred tax |
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Factors affecting the tax charge for the year
The tax assessed for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK:
| 2024 | 2023 | ||
| £ | £ | ||
| Profit before taxation | 8,764,586 | 8,146,040 | |
| Tax on profit at standard UK corporation tax rate of 25% (2023: 23.5%) |
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| Effects of: | |||
| Expenses not deductible for tax purposes |
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| Adjustments in respect of prior years |
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| Change in tax rate | 0 | (11,782) | |
| Total tax charge for year | 2,293,227 | 2,286,081 |
There were no factors that may affect future tax charges.
| Development costs | Total | ||
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| Additions |
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| At 31 December 2024 |
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| Charge for the financial year |
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| At 31 December 2024 |
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| At 31 December 2023 |
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| Office equipment | Total | ||
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| Cost | |||
| At 01 January 2024 |
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| At 31 December 2024 |
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| Accumulated depreciation | |||
| At 01 January 2024 |
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| At 31 December 2024 |
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| Net book value | |||
| At 31 December 2024 | 0 | 0 | |
| At 31 December 2023 | 196 | 196 |
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by Group undertakings (note 15) |
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| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings (note 15) |
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| Other taxation and social security |
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| Accruals |
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| Other creditors | (
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| (Charged)/credited to the Profit and Loss Account | (
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| At the end of financial year | (
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The deferred taxation balance is made up as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Accelerated capital allowances | (
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The deferred tax is calculated using a tax rate of 25% (2023 - 25%).
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
This reserve relates to the cumulative retained earnings less amounts distributed to shareholders.
Share premium account
The share premium account is used to record the aggregate amount of value of premiums paid when the company's shares are issued at an amount in excess of the nominal value.
Allotted, called-up and fully-paid
| 2024 | 2023 | ||
| £ | £ | ||
| 1 Ordinary share of £1.00 | 1 | 1 |
Presented as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Called-up share capital presented as equity | 1 | 1 |
Parent Company:
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Ultimate controlling party:
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Parent of smallest group for which group accounts are drawn up:
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