These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Another Publishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Studio Smithfield, 2nd Floor, London, EC1A 9PT.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The director has assessed the company's ability to continue as a going concern. In making this assessment, the director has considered the company's performance, position and trading and cashflow forecasts to 31 December 2027, as well as the availability of support from its parent undertaking Dazed Group Limited.true

The company has obtained a written letter of support from Dazed Group Limited confirming its intention to provide ongoing financial support for a period of at least twelve months from the date of approval of the financial statements. The director has considered the financial performance and position of Dazed Group Limited, and is satisfied that it has the capacity to provide that support.

Accordingly, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. Therefore, the financial statements have been prepared on a going concern basis.

Turnover represents the total invoice value, excluding discounts and value added tax, of sales during the year and derives from the provision of print, digital and creative services falling within the company's ordinary activities.

Revenue from contracts for the provision of creative and studio project activities is recognised in the period in which the services are provided and, where applicable, by reference to the stage of completion of the project at the reporting date.

Revenue relating to print and digital activities is recognised upon publication of the relevant magazine issue. Amounts invoiced prior to publication are recognised as deferred income and released to the profit and loss account when the related issue is published.

Royalty and licence income is recognised in accordance with the substance of the relevant licencing agreements. Fixed licence fees are recognised over the period to which they relate. Royalties based on licencee’s sales are recognised as earned in accordance with the terms of the relevant agreements.

Work in progress comprises costs incurred on creative and project activities and print activities that will be completed after the reporting date and is stated at the lower of cost and estimated selling price less costs to complete and sell.

For creative and project activities, directly attributable costs are recognised within work in progress and expensed by reference to the stage of the related activity. For print activities, pre-publication costs are included within work-in progress, representing costs incurred in the origination of content prior to publication.  These are expensed inline with the publication of the related magazine, typically in the next financial year. 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, amounts owed by group undertakings, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and amounts owed to group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Short-term employee benefits are recognised as an expense in the period in which the employees services are received, unless they are required to be deferred inline with the work in progress accounting policy. 

A liability is recognised at each balance sheet date for unused employee holiday entitlement. 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Pre-publication costs are included within work in progress, representing costs incurred in the origination of content for the Another Publishing magazine prior to publication. This includes costs relating to 7 employees working full time on the magazine and other activities within the Dazed Group. Management have estimated the proportion of those employee costs that are directly attributable to the origination of content for the unpublished Another Publishing magazine.

The average monthly number of persons (including directors) employed by the company during the year was:

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 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.

Included within creditors is an amount due to the director of the company of £nil (2024: £2,249).

Dazed Group Limited, a company incorporated in England and Wales, is the immediate and ultimate parent company, and is the smallest and largest group for which consolidated accounts including Another Publishing Limited are prepared. The consolidated accounts of Dazed Group Limited are available from its registered office, Studio Smithfield, 2nd Floor, London, England, EC1A 9PT.

The director considers that there is no ultimate controlling party.

Recognition of deferred magazine production costs

Following a review of the accounting treatment applied to costs incurred in the production of unpublished magazine issues, the director concluded that certain costs previously expensed should have been recognised as work in progress in accordance with FRS102 Section 13 Inventories. Comparative amounts have therefore been restated as set out above.