The directors present the strategic report for the year ended 31 March 2026.
Business review
The Company was incorporated on 9 February 2024.
The Company acquired 100% of the shares of Profile Books Ltd on 7 June 2024.
The financial statements include the trading activities of the subsidiary, Profile Books Ltd, for the year ended 31 March 2026.
The highlight of the year was László Krasznahorkai winning the Nobel Prize for Literature, with his frontlist and backlist titles seeing a subsequent bounce in sales. New publications included best-sellers by Alan Bennett, Janice Hallett, and Ezra Klein/ Derek Thompson and we saw continuing strong sales of the Murdle series by GT Karber and titles by Robert Greene and Ryan Holiday, particularly in international markets.
Profile Books Ltd has had a successful year's trading with an Operating profit of £1.8m for the year ended 31 March 2026 at a margin of 9.5%.
Profile Books Holdings Ltd Group made an Operating profit of £1.6m for the year ended 31 March 2026.
Profile Books Ltd is currently the only trading company in the Profile Books Holdings Ltd Group.
Principal risks and uncertainties
Credit risk
Debt is uninsured and is managed by regular review of credit and consultation with credit controllers at the distributor. The group holds no external loans and is not subject to interest rate risk.
Changes in the UK Retail Trade
Online purchasing of physical and ebooks is largely controlled by a single retailer. Audio books have grown in popularity and the majority are sold by a single retailer, which is part of the same group. The continued pressure on high street bookshops, both chain and independents, is a major factor affecting the company's ability to sell books to readers.
Operational Risk, including systems failures and disaster
The company has extensive plans for disaster recovery including recovery from systems collapse, and the Company annually assesses the appropriate level of insurance cover against business interruption.
Libel litigation
The company has insurance cover against libel, the level of which is assessed annually, and has a system of pre-publication review of new titles for potential libels.
Security of Bank Deposits
Cash is mainly deposited with the company's bankers Lloyds Banking Group. The directors keep this under regular review.
Foreign Exchange risk
Where possible the company deals in sterling. Foreign currency accounts are held and the company endeavours to manage the balances so as to reduce the risk.
Inflation
Where possible, the company attempts to limit future cost increases by entering into contracts for services and goods for a period of years. Book prices are kept under review whenever books are printed or reprinted.
Financial key performance indicators
Management use a range of performance measures to monitor the business. The performance measures are financial key performance indicators as set out below (these figures relate to the trade of Profile Books Ltd during the 12 months to 31 March 2026 and 31 March 2025):
| 2026 | 2025 |
(Decrease) / Increase in Turnover against prior year Operating Profit as a percentage of turnover Number of new books published in a paper format
| £ (10.6%) 9.5% 111 | £ (8.5%) 13.9% 112 |
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 March 2026.
The results for the year are set out on page 9.
The Group's profit for the period, after taxation, amounted to £1,151,205 (2025: £1,519,415).
Dividends totalling £261,423 (2025: £243,992) were paid during the period.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
On the 1st July 2026 the company acquired the business assets including future contracted titles and previously published titles of the “Solaris” imprint from Rebellion Publishing Ltd.
HW Fisher were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 parent 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 for the Group's financial statements and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom 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 group and parent 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 parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of Profile Books Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for 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 and parent 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.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
As part of our planning process:
We enquired of management the systems and controls the group and company has in place, the areas of the financial statements that are most susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The group and company did not inform us of any known, suspected or alleged fraud.
We obtained an understanding of the legal and regulatory frameworks applicable to the group and company. We determined that the following were most relevant: FRS 102, Companies Act 2006 and any relevant direct or indirect tax compliance regulation in the United Kingdom. In addition, the Group have to comply with laws and regulations relating to its operations including health and safety, data protection, anti-bribery and corruption legislation.
We considered the incentives and opportunities that exist in the group and company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
Using our knowledge of the group and company, together with the discussions held with the group and company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.
The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to provision for returns and the stock provision
Testing key revenue lines, in particular cut-off, for evidence of management bias.
Obtaining third-party confirmation of material bank balances
Documenting and verifying all significant related party balances and transactions.
Reviewing documentation such as the company board minutes, for discussions of irregularities including fraud.
Testing all material consolidation adjustments.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors of the group and company.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The notes on pages 16 to 33 form part of these financial statements.
The notes on pages 16 to 33 form part of these financial statements.
The notes on pages 16 to 33 form part of these financial statements.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £261,423 (2025 - £243,992 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The notes on pages 16 to 33 form part of these financial statements.
The notes on pages 16 to 33 form part of these financial statements.
The notes on pages 16 to 33 form part of these financial statements.
Profile Books Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales.
The Registered Office and principal place of business address is 29 Cloth Fair, London, EC1A 7JQ.
The group consists of Profile Books Holdings Limited, Profile Books Ltd and all of its subsidiaries.
The principal activity and core business of the group is book publishing.
The company was incorporated on 9 February 2024 and acquired 100% of the share capital of Profile Books Ltd on 20 June 2024. The trading results of Profile Books Ltd are shown in the consolidation for the year ended 31 March 2026.
The current year financial statements have been prepared for year ended 31 March 2026. The prior period financial statements were prepared for a period of 13 months from 9 February 2024 to 31 March 2025. The figures are therefore not entirely comparable.
The financial statements have been prepared under the historical cost convention unless otherwise specified within the accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
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 £.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company Profile Books Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in associates.
All financial statements are made up to 31 March 2026. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
The financial statements have been prepared on the going concern basis, which assumes that the Group will continue to meet its debts as they fall due, and will continue to trade for at least 12 months from the date of approval of these financial statements.
At the time of approving the financial statements, the directors have a reasonable expectation, based on their assessment of the Group's financial position and resources, that the Group has adequate financial resources to continue in operational existence for the foreseeable future, being a period of a least twelve months from the date of approval of these financial statements, and will be able to meet its liabilities as they fall due.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the 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:
Sale of goods
Turnover from the sale of books is recognised when title passes. A provision for anticipated returns is made based primarily on historical return rates. If these estimates do not reflect actual returns in future periods, then turnover could be understated or overstated for that particular period.
Rendering of services
Revenue 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 revenue 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;
the costs incurred and the costs to complete the contract can be measured reliably.
On certain contracts, where the Company acts as agent, turnover includes commissions and fees receivable for services rendered.
At each reporting date, advances on unpublished titles are assessed for impairment. If the value is impaired, the carrying amount is reduced to any amounts deemed to be recoverable. The impairment loss is recognised immediately in profit or loss.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Investments are held at fair value with gains and losses being recognised within the profit and loss account.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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 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 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 group after deducting all of its liabilities.
Basic financial liabilities, including creditors and loans from fellow group companies 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.
Equity instruments issued by the group 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 group.
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 group’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 if, and only if, there is 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.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
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.
Defined contribution pension plan
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the black scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
The expense in relation to options over the parent company’s shares granted to employees of a subsidiary is recognised by the company as a capital contribution, and presented as an increase in the company’s investment in that subsidiary.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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.
Functional and presentational currency
The Company and the Group's functional and presentational currency is GBP.
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.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Interest income
Interest income is recognised in profit or loss using the effective interest method.
Holiday pay accrual
A liability for unused holiday leave is accrued for at the statement of financial position date. This is measured at the salary cost of the future holiday entitlement.
In the application of the group’s accounting policies, the directors are 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 Company has agreements in place to allow some customers to return books on a 'sale or return' basis. An estimated provision is made for post year end returns based upon the pattern of returns for the previous completed year, excluding exceptional titles. See note 20 for further details.
Judgement is required in determining whether there is any allowance for slow-moving or obsolete items. This involves evaluating the likelihood of the further sales of particular stock items. See note 16 for further details.
The determination of the useful economic life over which goodwill is amortised is a significant judgement. Management considers a range of factors, including the expected future cash flows from the acquired business, the stability of the industry, and historical experience. Where a reliable estimate cannot be made, the useful life does not exceed ten years. The amortisation period is reviewed annually and revised if necessary.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2025 - 3).
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Acquisition of subsidiary
On 7 June 2024 the company acquired 100% of the issued share capital of Profile Books Ltd, a company incorporated in the UK for a gross consideration of £17,283,331.
During the year, the Group invested £2,500,000 into a portfolio of listed securities. The investments are classified as financial assets measured at fair value through profit or loss. At 31 March 2026, the fair value of listed investments was £2,498,525 (2025: £nil), resulting in a net fair value loss of £1,475 recognised in administrative expenses.
All listed investments are categorised within Level 1 of the fair value hierarchy as fair value is determined directly by reference to published quoted prices in active markets at the reporting date
Details of the company's subsidiaries at 31 March 2026 are as follows:
An impairment loss of £220,927 (2025: £254,870) was recognised in the Statement of Comprehensive Income
The provision for returns has been made for books sold in the current year which will be returned in subsequent years in accordance with the accounting policy set out in Note 1.16.
The following are the major deferred tax liabilities and assets recognised by the group and company:
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
Deferred income is included in the financial statements as follows:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. Employer contributions totalling £43,557 (2025: £34,449) were payable to the fund at the reporting date and are included in creditors.
The Group set up a new Enterprise Management Incentive Share Option Scheme for employees including Directors during 2025.
Each employee's Share Options converts into one Ordinary Share of Profile Books Holdings Limited on exercise. No amounts are paid, or payable, by the recipient on receipt of the option and the options carry neither rights to dividends nor voting rights. Options may be exercised within 180 days prior their expiring or on an exit event.
Options were issued in 2025 and have a service condition attached that requires the employee to remain with the Company for a period equal to the vesting period.
The Options are forfeited if the employee leaves the Company before the options vest. The fair value of the Share Options has been determined by applying a Black‑Scholes‑Merton Model.
17,428 options were granted during the year (2025: nil share options), and there were a total of 17,428 Share Options outstanding at 31 March 2026 (2025: nil).
On 7 June 2024, 174,279 "consideration shares" of £0.10 each were allotted and issued under the share exchange agreement in addition to the one ordinary subscriber share of £0.10 allotted to one of the shareholders.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The Group operates a credit facility to cover the clearance of foreign cheques for which the Group are allowed to withdraw funds, this facility is secured via fixed and floating charges over the assets of the Group.
On the 1st July 2026 Profile Books Limited acquired the business assets including contracted titles of the “Solaris” imprint from Rebellion Publishing Ltd.
During the year total dividends of £261,423 (2025: £229,872) were paid to directors and their related parties
Directors' remuneration is disclosed in note 7, the directors of the Company are the key management personnel.