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Company registration number: 00468855
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 MARCH 2020
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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COMPANY INFORMATION
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
REGISTERED NUMBER:00468855
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
REGISTERED NUMBER:00468855
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2020
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Scientific Press Limited (formerly Technical Productions (London) Limited) is a company limited by shares incorporated in England and Wales. The trading address is Studio 103, The Chocolate Factory, London.
The significant accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all years presented unless otherwise stated.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The emergence and spread of COVID-19 in 2020 and the associated social distancing measures and imposed
travel restrictions have significantly impacted businesses globally.
Whilst COVID-19 has affected the company, given the current uncertainties that exist regarding the duration
and extent of the pandemic, at this stage it is not possible to reliably forecast the extent of this impact.
In response to the pandemic and uncertainty, the director has taken measures in order to safeguard
cashflow, customers and supply chain that they believe should enable them to continue in operational
existence. Therefore, it is the director's opinion that the going concern basis of preparation continues to be
appropriate.
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 generated via the publication of technical and scientific books and journals and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income 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 Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the most appropriate basis.
Depreciation is provided on the following basis:
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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Foreign currency translation
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Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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.
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.
The average monthly number of employees, including the directors, during the year was 1 (2019 - 2).
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Charge for the year on owned assets
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Prepayments and accrued income
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SCIENTIFIC PRESS LIMITED (FORMERLY TECHNICAL PRODUCTIONS (LONDON) LIMITED)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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