REGISTERED NUMBER: 04621201 (England and Wales)

Financial Statements

for the Year Ended 28 February 2025

for

Vinyl Factory Publishing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T J Robinson

SECRETARY:

Camamile Limited

REGISTERED OFFICE:

15 Newland

Lincoln

Lincolnshire

LN1 1XG

REGISTERED NUMBER:

04621201 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

2,168

7,682

CURRENT ASSETS

Debtors

5

2,084

3,620

Cash at bank

414

322

2,498

3,942

CREDITORS

Amounts falling due within one year

6

49,740

34,901

NET CURRENT LIABILITIES

(47,242

)

(30,959

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(45,074

)

(23,277

)

CREDITORS

Amounts falling due after more than one year

7

7,307,826

7,137,596

NET LIABILITIES

(7,352,900

)

(7,160,873

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(7,352,901

)

(7,160,874

)

SHAREHOLDERS' FUNDS

(7,352,900

)

(7,160,873

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2025 and were signed by:

T J Robinson - Director

1.	STATUTORY INFORMATION

Vinyl Factory Publishing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the year end net liabilities exceeded net assets by £7,352,900 (2024: £7,160,873). Included within creditors are amounts owing to the parent company of £7,300,793 (2024: £7,120,231). The company's continued operation depends on the financial support of its parent company. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover represents net sales of internet magazine advertising, excluding value added tax. Revenue is recognised in the period to which an advertising campaign relates. Where an advertising campaign straddles the year end, sales are apportioned on a pro-rata basis and recognised in the period to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer and camera equipment

-

33% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Foreign currencies

All sales made to foreign customers are invoiced in sterling in order to mitigate foreign exchange risk.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

Fixtures

and

and

camera

fittings

equipment

Totals

£

£

£

COST

At 1 March 2024

8,154

87,766

95,920

Additions

-

1,060

1,060

At 28 February 2025

8,154

88,826

96,980

DEPRECIATION

At 1 March 2024

7,301

80,937

88,238

Charge for year

724

5,850

6,574

At 28 February 2025

8,025

86,787

94,812

NET BOOK VALUE

At 28 February 2025

129

2,039

2,168

At 29 February 2024

853

6,829

7,682

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,670

2,743

Other debtors

414

554

2,084

3,297

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

323

Aggregate amounts

2,084

3,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,342

10,086

Trade creditors

33,448

18,970

Other creditors

5,950

5,845

49,740

34,901

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

7,033

17,365

Amounts owed to group undertakings

7,300,793

7,120,231

7,307,826

7,137,596

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The company's parent undertaking is The Vinyl Factory Limited. The registered office of the parent undertaking is 15 Newland, Lincoln, Lincolnshire, LN1 1XG. The principle place of business is 16-18 Marshall Street, London, W1F 7BE.