H2O Publishing Holdings Limited - Period Ending 2019-12-31

Registration number: 09899474

H2O Publishing Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2019

H2O Publishing Holdings Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

H2O Publishing Holdings Limited

(Registration number: 09899474)
Balance Sheet as at 31 December 2019

	Note	2019  £	2018  £
Fixed assets
Investments		450,000	450,000
Current assets
Debtors	5	100	100
Net assets		450,100	450,100
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		450,000	450,000
Total equity		450,100	450,100

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 July 2020
 

J R Robbins

Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

H2O Publishing Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office and principal place of business is:
Media House
3 Topley Drive
Rochester
Kent
ME3 8PZ
England

2	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.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' 'FRS 102 1A', and with
the Companies Act 2006.

These financial statements have been prepared using the historical cost convention.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic 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.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Page 2

H2O Publishing Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

 Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

 Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when 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 of the investment have been affected.
 

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

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 company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 3

H2O Publishing Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4	Investments

	2019 £	2018 £
Investments in subsidiaries	450,000	450,000

Subsidiaries	£
Cost
At 1 January 2019 and 31 December 2018	450,000
Provision
At 1 January 2018 and 31 December 2019	-
Carrying amount
At 31 December 2019	450,000
At 31 December 2018	450,000

5

Debtors

	2019 £	2018 £
Other debtors	100	100
	100	100

6

Dividends

		2019		2018
		£		£
Interim dividend of £1,635 (2018 - £1,010) per ordinary share		163,500		100,990

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Page 4

H2O Publishing Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

8	Non adjusting events after the financial period

At the time of approval of the accounts in July 2020, the Covid-19 pandemic has had a significant impact on the UK. The director considers that although this is having a significant impact on the business during 2020 due to the restrictions around large events, the director is focussing planning on ensuring the business is as prepared as possible to adapt to the challenges of the current market conditions and consider any opportunities ahead. The director undertakes the planning on the basis that the business continues to safeguard the health and well-being of its employees, suppliers and customers.

Page 5