Registration number:
for the
Year Ended 31 December 2025
Alastair Sawday Publishing Co. Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Alastair Sawday Publishing Co. Ltd
Company Information
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Directors |
M Bevens T H Dixon J Phan T A Sawday K R Styles M Haunton D Kelly |
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Registered office |
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Auditors |
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Alastair Sawday Publishing Co. Ltd
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the Group is connecting guests to a curated collection of holiday accommodation in the UK, Ireland, France, Italy, Spain, Portugal and Scandinavia. The Group operates through four distinct brands; Sawday’s, Canopy & Stars, Paws & Stay and Crown & Canopy. The Group represents a portfolio of unique ‘selected and inspected’ properties including self-catering places, hotels, pubs and bed & breakfast businesses.
Fair review of the business
The results for the year which are set out in the profit and loss account show turnover of £4,935,174 (2024 - £5,057,629) and an operating loss of £(207,325) (2024 - £152,557 profit). At 31 December 2025 the Group had net assets of £1,095,130 (2024 - £1,280,274).
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Revenue |
£ |
4,935,174 |
5,057,629 |
|
EBITDA |
£ |
71,307 |
259,352 |
|
(Loss)/Profit before tax |
£ |
(209,019) |
119,367 |
The 2025 performance reflects a difficult economic climate for UK tourism and leisure with businesses impacted by increased legislation and rising costs and consumer confidence impacted by economic uncertainty and the higher cost of living. Customers continue to find ways to save money such as shortening stays, taking fewer holidays over the year or looking for cheaper accommodation. The market is also getting a lot shorter with the lag between booking and stay dates contracting - this means less certainty for holiday accommodation owners and a market that is more reactive to external events such as poor weather or political uncertainty. Despite this challenging outlook, our brands continue to resonate with their audience, and revenue was broadly stable year on year with a decrease of 2.4% largely driven by one off revenue items present in 2024 that were not repeated in 2025. The directors consider this a satisfactory result.
EBITDA represents earnings before interest, taxation, depreciation and amortisation. The directors consider EBITDA to be a useful measure of the underlying trading performance of the Group as it removes the impact of financing decisions and non-cash charges.
The decrease in EBITDA to £71,307 (2024 - £259,352) reflects the reduction in turnover, some high one-off costs and general inflationary pressure, including the rise to employer’s National Insurance which took effect in April 2025. We sustained a higher level of investment in our subsidiary, Paws & Stay, in order to strengthen traction in audience, brand and variety of accommodation offerings and, with positive results to date, are continuing this investment in growth in 2026.
During the year, we have benefited from the synergies between Crown & Canopy, a glamping consulting business and our largest company, Canopy & Stars. Crown & Canopy remains a relatively small portion of Group operations but is an important pipeline for Canopy & Stars and the directors are considering opportunities to leverage the know-how within the business to increase portfolio size and improve quality.
The directors reassessed the Group’s five-year strategic plan during the year and implementation of the strategies identified is progressing well.
The Group is a proud to be a certified B Corporation. We currently hold a score of 129.3 meaning we are amongst the highest scoring B Corp Travel companies in the world.
The Group is committed to having a positive impact on the environment, communities, and the travel industry. We have committed to implementing a sustainability and impact strategy which includes mitigating over-tourism, promoting sustainable travel, supporting disadvantaged and under-represented groups to access nature and ensuring the protection of nature and landscapes.
The Group is majority owned by a beneficiary trust ‘The Sawday Employee Ownership Trustee’. The beneficiaries of the trust are all the current employees (co-owners) of the Group of companies subject to passing a short introductory period. We place a great deal of importance on employee ownership, co-owner influence on the direction of the Group and open lines of communication between co-owners and the board. The co-owners are represented on the board by an elected employee director and have a cohesive voice through an elected committee of co-owners ‘The Employee Council’. Co-owners participate in profits when dividends are declared following each year end.
Alastair Sawday Publishing Co. Ltd
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
Competition
The Group operates in a highly competitive market with multiple agents, platforms and marketing offerings vying for places in their collection. The directors mitigate this risk by maintaining the reputation of the Group as a high quality, curated and inspected collection of accommodation tailored specifically to the needs of our audience.
Quality
The Group is known for inspecting every single property in the collection and the high quality of the properties. There is a risk that deterioration in the quality of properties will result in the Group losing an important element of its unique offering. In order to mitigate this risk, the Group inspects 100% of properties listed in our platforms and rejects up to 82% of applications of bookable accommodation in order to maintain the integrity of the collection and the Group’s reputation.
Technology and cyber security risk
The Group promotes the collection of properties through websites, social media, email and press articles. Interruption to the websites and other IT systems poses a significant risk to the ability to provide services to our members. We mitigate this risk by ensuring we have back up recovery plans for our systems.
Macroeconomic conditions
The Group operates in the field of travel. Macroeconomic factors that impact demand, cost or ease of travel can impact our businesses. These risks are mitigated by the spread of geographic locations and property types in our collections as well as diversity in audience demographics across our different brands. Focusing on niche markets helps us to better serve our audience and property owners.
Regulation
Government regulations that affect holiday lets and UK travel have the potential to impact our property owners and our guests. We mitigate this risk by monitoring developments in regulation as well as taking part in consultations through our association with industry representative organisations.
Financial risks are covered in the Directors' Report.
Approved by the
Director
Alastair Sawday Publishing Co. Ltd
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the consolidated financial statements for the year ended 31 December 2025.
Directors of the Group
The directors who held office during the year were as follows:
Future developments
The directors are executing a five-year strategic plan for the Group and remain confident that the actions being undertaken will strengthen the Group's financial performance and support profitable growth in future periods.
Financial instruments
The Group's financial instruments comprise cash and liquid resources, and various other items such as trade debtors and trade creditors etc. that arise directly from its operations. The main purpose of these financial instruments is to finance the operations of the Group. The main risks arising from the Group's financial instruments are set out below.
Credit risk, liquidity risk, cash flow risk, interest rate risk and foreign currency risk
Credit risk:
Credit risk refers to a risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. The Group’s credit risk is primarily attributable to its trade receivables who are made up of a large number of small customer balances. Debtors are reviewed and procedures are in place to chase for any unpaid balances. If the customer does not pay on the timely basis, the Group has the ability to cancel bookings before the stay occurs, mitigating the Group’s credit risk. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
Liquidity risk:
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The Group aims to mitigate liquidity risk by managing cash generation by its operations, ensuring cash and short-term deposits remain accessible to meet working capital requirements. Working capital requirements are monitored on an ongoing basis, so the directors do not consider there to be a significant risk in this area.
Cash flow risk:
Cash flow risk is the risk to which future cash flows fall short of expectations as a consequence of changes in market variables. The directors manage this risk through the Group’s business model, which reflects industry norms, where cash is received up front.
Foreign currency risk:
Foreign currency risk is the risk losses could be incurred on international financial transactions due to fluctuations in currency. The Group receives a proportion of revenue denominated in Euros and pays a number of suppliers in Euros. The amounts involved do not represent a significant risk to the Group. The Group maintains Euros bank accounts to receive and make payments and ensures surpluses that would expose the company to higher exchange risk do not accumulate.
Alastair Sawday Publishing Co. Ltd
Directors' Report for the Year Ended 31 December 2025
Going concern
Forecasts have been prepared that reflect the current economic circumstances and the committed cash outflows of the Group. The Group is in a net asset position of £1,095,130 (2024 - £1,280,274) and has cash reserves (excluding customer deposits) of £1.5m (2024 - £1.8m). Based on the forecasts prepared and the funds available, sufficient resources are available for the Group to continue in business for at least 12 months post signing of the financial statements. As such, the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Directors' liabilities
The company maintained throughout the year, and at the date of approval of these financial statements, liability insurance for its directors and officers. This is a qualifying provision for the purposes of the Companies Act 2006.
Disclosure of information to the auditor
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the Company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved by the
Director
Alastair Sawday Publishing Co. Ltd
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, Directors' 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). 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 Group and company and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and 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 Group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Alastair Sawday Publishing Co. Ltd
Independent Auditor's Report to the Members of Alastair Sawday Publishing Co. Ltd
Opinion
We have audited the financial statements of Alastair Sawday Publishing Co. Ltd (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and 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 Financial Reporting Standard 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 Group's and the parent company's affairs as at 31 December 2025 and of the Group's loss 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 responsibilities for the audit of the financial statements section of our report. We are independent of the Group 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 Group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.
Other information
The other information comprises the information included in the annual report, 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.
Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Alastair Sawday Publishing Co. Ltd
Independent Auditor's Report to the Members of Alastair Sawday Publishing Co. Ltd
Matters on which we are required to report by exception
In the light of our 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 and 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company 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. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities 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 Group’s and the parent 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 Group or the parent 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.
Extent to which the audit was capable of detecting irregularities, including fraud
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 considered the nature of the group’s industry and its control environment and reviewed the group’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the group operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
Alastair Sawday Publishing Co. Ltd
Independent Auditor's Report to the Members of Alastair Sawday Publishing Co. Ltd
In common with all audits carried out in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
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• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; |
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• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and |
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• |
reading minutes of meetings of those charged with governance. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available 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
Staverton Court
Staverton
GL51 0UX
Alastair Sawday Publishing Co. Ltd
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating (loss)/profit |
( |
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(Loss)/profit before tax |
( |
|
|
|
Tax on (loss)/profit |
|
( |
|
|
(Loss)/profit for the financial year |
( |
|
|
|
Profit attributable to: |
|||
|
Owners of the company |
( |
|
The above results were derived from continuing operations.
The Group has no other comprehensive income for the year other than the results above.
Alastair Sawday Publishing Co. Ltd
(Registration number: 02812527)
Consolidated Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
Investment property |
|
- |
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
15,475 |
15,475 |
|
|
Share premium reserve |
49,625 |
49,625 |
|
|
Retained earnings |
1,030,030 |
1,215,174 |
|
|
Equity attributable to owners of the company |
1,095,130 |
1,280,274 |
|
|
Total equity |
1,095,130 |
1,280,274 |
Approved and authorised by the
Director
Alastair Sawday Publishing Co. Ltd
(Registration number: 02812527)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
- |
|
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
- |
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets/(liabilities) |
|
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
15,475 |
15,475 |
|
|
Share premium reserve |
49,625 |
49,625 |
|
|
Retained earnings |
1,098,938 |
716,319 |
|
|
Total equity |
1,164,038 |
781,419 |
The company made a profit after tax for the financial year of £415,071 (2024 - profit of £508,694).
Approved and authorised by the
Director
Alastair Sawday Publishing Co. Ltd
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company
|
Share capital |
Share premium |
Retained earnings |
Total equity |
|
|
At 1 January 2025 |
|
|
|
|
|
Loss for the year |
- |
- |
( |
( |
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Share capital |
Share premium |
Retained earnings |
Total equity |
|
|
At 1 January 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2024 |
15,475 |
49,625 |
1,215,174 |
1,280,274 |
Alastair Sawday Publishing Co. Ltd
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2024 |
15,475 |
49,625 |
716,319 |
781,419 |
Alastair Sawday Publishing Co. Ltd
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
(Loss)/profit for the year |
( |
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Impairment loss on intangible assets |
136,251 |
- |
|
|
Loss on disposal of tangible assets |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
( |
|
|
|
Remeasurement of goodwill |
- |
3,005 |
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease/(increase) in stocks |
|
( |
|
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Decrease in trade creditors |
( |
( |
|
|
Increase in provisions |
|
|
|
|
Cash generated from operations |
( |
|
|
|
Income taxes received/(paid) |
|
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisition of intangible assets |
( |
( |
|
|
Acquisition of investment properties |
( |
- |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Repayment of other borrowing |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net decrease in cash and cash equivalents |
( |
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
3,161,643 |
3,550,547 |
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
Alastair Sawday Publishing Co. Ltd meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in its separate financial statements. Exemptions have been taken in the presentation of the company financial instruments and company statement of cash flows.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
No Profit and Loss Account is presented for the company as permitted by section 408 of the Companies Act 2006.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the Group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
Forecasts have been prepared that reflect the current economic circumstances and the committed cash outflows of the group. The group is in a net asset position of £1,095,130 (2024 - £1,280,274) and has cash reserves (excluding customer deposits) of £1.5m (2024 - £1.8m). Based on the forecasts prepared and the funds available, sufficient resources are available for the group to continue in business for at least 12 months post signing of the financial statements. As such, the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
Impairment of asset under construction
The Group holds software assets under construction with a carrying value of £93,559 at 31 December 2025. The assessment of whether development costs remain recoverable requires management to estimate the future economic benefits expected to arise from the projects, including technical feasibility, expected future use and the likelihood of successful completion. Changes in these assumptions could result in further impairment charges or reversals in future periods.
Investment property value
Investment property is measured at fair value and requires management to estimate the value of the property at the reporting date having regard to market evidence and comparable transactions. The property was acquired shortly before the year end and the directors concluded that the purchase price represented a reasonable estimate of fair value. Changes in market conditions could result in a different valuation.
Dilapidations provision
The Group has recognised a dilapidations provision of £60,000. Determining the required provision involves estimating the future costs of restoring leased premises at the end of the lease term. The ultimate cost may differ from the amount provided due to changes in property condition, contractual obligations and future construction costs.
Revenue recognition
Revenue 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 group’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group's activities.
The group arranges and facilitates the letting of a curated collection of places to stay for property owners and receives a commission fee for the services provided. The group remits the gross rental fee received from the guest to the property owner, net of the group’s commission. Commission is recognised when the performance obligation of arranging and facilitating the customer to enter into individual contracts with the property owner is satisfied, usually on delivery of the booking confirmation. As the group acts as an agent the net amount is recognised in turnover.
The group provides annual membership to its platform of curated collection of holiday accommodation. Revenue relating to the annual membership is recognised evenly over the membership period. Revenue from joining fees is recognised at the start of the initial membership period.
The group has contracts in relation to glamping consultancy. Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity. The 'percentage completion method' is used to determine the amount to recognise in a given period. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be recognised by reference to the value of the work performed to date as a proportion of the total contract value. If a contract is expected to be loss making, provision for the full amount of foreseeable losses is recognised.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
The current 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 group operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets 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 |
|
Furniture, fittings and equipment |
40 months straight line |
Investment property
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Development costs and software are carried at cost less amortisation and any accumulated impairment losses.
Assets under construction are carried at cost and are not amortised until they are brought into use. When assets under construction are brought into use they are transferred to development costs and amortised over their estimated useful economic lives. Assets under construction are reviewed for indicators of impairment at each reporting date and are written down to their recoverable amount where management determines that the asset is no longer expected to generate sufficient future economic benefits, is no longer technically feasible to complete, or where costs previously capitalised no longer meet the criteria for recognition as an intangible asset.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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 |
5-10 years straight line |
|
Software |
60 months straight line |
|
Development costs |
40-60 months straight line |
|
Assets under construction |
Not amortised |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the debtors.
Accrued income includes revenue earned from commissions for bookings made, but not yet invoiced to the property owners at the year end. Accrued income is recognised in line with the revenue recognition policy. All are receivable within one year and hence are included at the undiscounted cost of cash expected to be received.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of stocks comprises direct material costs. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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 group 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Other creditors include obligations to pay property owners for bookings taken which have yet occurred. Other creditors are recognised initially at the transaction price less the commission amounts due to the company and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Deferred income relates to works invoiced in advance of performance of the service. Deferred income is recognised in line with the revenue recognition policy. All works related to deferred income are expected to be performed and payable within one year and hence are included at the invoiced amounts.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the Group has an obligation at the reporting date as a result of a past event, it is probable that the Group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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 Group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Group 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.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the group is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment
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 profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
|
Turnover |
The analysis of the Group's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Rendering of services |
|
|
|
Commission |
|
|
|
Other revenue |
|
|
|
|
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
The analysis of the Group's turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Europe |
|
|
|
|
|
|
Other operating income |
The analysis of the Group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Sub lease rental income |
|
|
|
Operating (loss)/profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense (included within administrative expenses) |
|
|
|
Impairment loss on assets under construction (included within administrative expenses) |
|
- |
|
Foreign exchange (gains)/losses |
( |
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - other |
|
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other interest income |
1,634 |
410 |
|
Interest income on bank deposits |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Other interest payable |
|
|
|
|
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
Group
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Sales, marketing and administration |
|
|
Company
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Sales, marketing and administration |
|
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
267,767 |
324,631 |
During the year the number of directors who were receiving benefits was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under defined contribution pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to defined contribution pension schemes |
|
|
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
16,000 |
8,320 |
|
Audit of the financial statements of subsidiaries |
13,200 |
23,063 |
|
|
|
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
( |
|
|
UK corporation tax adjustment to prior periods |
( |
( |
|
(38,326) |
15,507 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
17,294 |
- |
|
Total deferred taxation |
( |
|
|
Tax (receipt)/expense in the profit and loss account |
( |
|
The tax on (loss)/profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
(Loss)/profit before tax |
( |
|
|
Corporation tax at standard rate |
( |
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Increase from tax losses for which no deferred tax asset was recognised |
|
|
|
Deferred tax expense from unrecognised temporary difference from a prior period |
|
- |
|
Tax decrease from other tax effects |
( |
( |
|
Total tax (credit)/charge |
( |
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Asset |
|
Tax losses |
|
|
Short term timing differences |
|
|
Fixed asset timing differences |
( |
|
|
|
2024 |
Liability |
|
Short term timing differences |
( |
|
Fixed asset timing differences |
|
|
( |
There are £70,031 of unused tax losses (2024 - £Nil) for which no deferred tax asset is recognised in the balance sheet.
Company
Deferred tax assets and liabilities
|
2025 |
Asset |
|
Short term timing differences |
|
|
Fixed asset timing differences |
( |
|
|
|
2024 |
Liability |
|
Short term timing differences |
( |
|
Fixed asset timing differences |
|
|
- |
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Intangible assets |
Group
|
Goodwill |
Software |
Development costs |
Assets under construction |
Total |
|
|
Cost |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Transfers between classes |
- |
- |
|
( |
- |
|
Additions |
- |
- |
- |
|
|
|
At 31 December 2025 |
|
|
|
|
|
|
Amortisation |
|||||
|
At 1 January 2025 |
|
|
|
- |
|
|
Amortisation charge |
|
- |
|
- |
|
|
Impairment |
- |
- |
- |
|
|
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
- |
|
|
|
|
At 31 December 2024 |
|
- |
|
|
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
|
Goodwill |
Software |
Development costs |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2025 |
|
|
|
|
|
Additions |
- |
- |
|
|
|
At 31 December 2025 |
|
|
|
|
|
Amortisation |
||||
|
At 1 January 2025 |
|
|
|
|
|
At 31 December 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2025 |
- |
- |
|
|
|
At 31 December 2024 |
- |
- |
- |
- |
|
Tangible assets |
Group
|
Furniture, fittings and equipment |
|
|
Cost |
|
|
At 1 January 2025 |
|
|
Additions |
|
|
Disposals |
( |
|
At 31 December 2025 |
|
|
Depreciation |
|
|
At 1 January 2025 |
|
|
Charge for the year |
|
|
Eliminated on disposal |
( |
|
At 31 December 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
|
Furniture, fittings and equipment |
|
|
Cost |
|
|
At 1 January 2025 |
|
|
Additions |
|
|
Disposals |
( |
|
At 31 December 2025 |
|
|
Depreciation |
|
|
At 1 January 2025 |
|
|
Charge for the year |
|
|
Eliminated on disposal |
( |
|
At 31 December 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
|
Investment properties |
Group
|
2025 |
|
|
At 1 January |
- |
|
Additions |
|
|
At 31 December |
|
The investment property was purchased on 24 November 2025. The directors do not consider the fair value at the year end to differ significantly from the purchase price.
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2025 and 31 December 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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 |
||||
|
|
Merchants House, Wapping Road,
|
|
|
|
|
|
Merchants House, Wapping Road,
|
|
|
|
|
|
Merchants House, Wapping Road,
|
|
|
|
For the year ended 31 December 2025 the subsidiaries marked with ** above were entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.
|
Debtors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
|
|
Amounts due from group undertakings |
- |
- |
197,825 |
239,537 |
|
|
Amounts owed by related parties |
|
|
|
|
|
|
Other debtors |
|
|
|
|
|
|
Prepayments |
|
|
|
|
|
|
Accrued income |
|
|
|
- |
|
|
Deferred tax assets |
|
- |
|
- |
|
|
|
|
|
|
||
Amounts owed by related parties and amounts due from group undertakings are unsecured, interest free and repayable on demand.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
- |
|
- |
|
|
|
Trade creditors |
|
|
|
|
|
|
Social security and other taxes |
|
|
|
|
|
|
Other creditors |
|
|
- |
|
|
|
Accrued expenses |
|
|
|
|
|
|
Deferred income |
|
|
|
|
|
|
Corporation tax liability |
- |
8,253 |
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
- |
|
- |
|
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Other borrowings |
|
|
|
|
Bank borrowings comprise a Coronavirus Business Interruption Loan ('CBILS') of £nil (2024 - £100,002). The loan has been fully repaid during the year.
In 2022, a loan of £414,000 was advanced to the company by a director. The loan is repayable in annual instalments of £82,800 and accrues interest at 4% which is repayable on each repayment date. Early repayments were made in 2023 and 2024 and as a result, the actual capital amount repaid in the year was £20,000 (2024 - £246,727). The amount outstanding at year end was £30,422 (2024 - £50,066).
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Provisions for liabilities |
Group
|
Deferred tax |
Dilapidations provision |
Total |
|
|
At 1 January 2025 |
|
|
|
|
Increase/(decrease) in existing provisions |
( |
|
( |
|
At 31 December 2025 |
- |
|
|
|
|
|||
Company
|
Dilapidations provision |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase in existing provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
The dilapidations provision is recognised based on the directors' best estimate of likely committed cash flow to reinstate the leased buildings to their original state at the end of the lease period.
|
Pension and other schemes |
Defined contribution pension scheme
The Group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Group to the scheme and amounted to £109,844 (2024 - £
Contributions totalling £nil (2024 - £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
15,475 |
|
15,475 |
|
Reserves |
Group and company
Called up share capital
Represents the issued equity share capital of the company.
Share premium reserve
This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Retained earnings
Represents cumulative profits or losses, net of dividends paid and other adjustments.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Obligations under leases |
Group and Company
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
|
2025 |
2024 |
|
|
Dividends paid |
32,452 |
38,248 |
|
Analysis of changes in net debt |
Group
|
At 1 January 2025 |
Financing cash flows |
Other non-cash changes |
At 31 December 2025 |
|
|
Cash and cash equivalents |
||||
|
Cash |
3,550,547 |
(388,904) |
- |
3,161,643 |
|
Borrowings |
||||
|
Bank borrowings |
(100,002) |
100,002 |
- |
- |
|
Other borrowings |
(50,066) |
21,595 |
(1,971) |
(30,442) |
|
(150,068) |
121,597 |
(1,971) |
(30,442) |
|
|
|
||||
|
Net debt |
|
( |
( |
|
Other non-cash movement of £1,971 relates to interest accrued but unpaid at the year end on a shareholder loan.
Alastair Sawday Publishing Co. Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Group and company
Key management personnel
Key management personnel are considered to be the directors of the company and key management personnel compensation is disclosed in note 9 of the financial statements.
Group
Transactions with directors
In 2022, a loan of £414,000 was advanced to the company by a director. The loan is repayable in annual instalments of £82,800 and accrues interest at 4% which is repayable annually. The actual capital amount repaid in the year was £19,624 (2024 - £246,727). The amount outstanding at year end was £30,422 (2024 - £50,066).
In the year, £7,236 (2024 - £142) was repaid to a director of a company within the group in relation to a loan. At the balance sheet date, amounts owed to the director were £nil (2024 - £7,236).
|
Financial instruments |
Group
Items of income, expense, gains or losses
|
2025 |
Income |
Expense |
Net gains |
Net losses |
|
Financial liabilities measured at amortised cost |
- |
5,617 |
- |
- |
|
2024 |
Income |
Expense |
Net gains |
Net losses |
|
Financial liabilities measured at amortised cost |
- |
26,116 |
- |
- |
|
Control |
The ultimate controlling party is