| Trotman Publishing Limited |
| Registered number: |
06255817 |
| Balance Sheet |
| as at 30 September 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
850,000 |
|
|
900,000 |
| Tangible assets |
4 |
|
|
201,460 |
|
|
193,693 |
|
|
|
|
1,051,460 |
|
|
1,093,693 |
|
| Current assets |
| Stocks |
|
|
131,356 |
|
|
255,084 |
| Debtors |
5 |
|
231,327 |
|
|
361,665 |
| Cash at bank and in hand |
|
|
167,411 |
|
|
44,750 |
|
|
|
530,094 |
|
|
661,499 |
|
| Creditors: amounts falling due within one year |
6 |
|
(138,154) |
|
|
(243,381) |
|
| Net current assets |
|
|
|
391,940 |
|
|
418,118 |
|
| Total assets less current liabilities |
|
|
|
1,443,400 |
|
|
1,511,811 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,326,577) |
|
|
(1,447,518) |
|
|
|
| Net assets |
|
|
|
116,823 |
|
|
64,293 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
500,000 |
|
|
500,000 |
| Profit and loss account |
|
|
|
(383,177) |
|
|
(435,707) |
|
| Shareholders' funds |
|
|
|
116,823 |
|
|
64,293 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| DRJ Lester |
| Director |
| Approved by the board on 29 June 2021 |
|
| Trotman Publishing Limited |
| Notes to the Accounts |
| for the year ended 30 September 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Goodwill |
|
Goodwill is reviewed annually for impairment. |
|
|
Turnover |
|
Turnover represents net invoiced sales of goods and services, excluding value added tax and trade discounts. Revenue is recognised when services are rendered. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Development costs are being amortised evenly over their estimated useful life of five years. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Website |
at varying rates on cost |
|
Fixtures & Fittings |
25% on cost |
|
Computer Equipment |
25% on cost |
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
The purchase cost of raw materials is calculated on a first in first out basis.
The cost of work in progress includes an appropriate proportion of manufacturing overheads. |
|
|
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, loans from banks and other third parties. 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 income statement.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation of the amount the company would receive for the assets if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
11 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 October 2019 |
2,597,430 |
|
Disposals |
(210,301) |
|
At 30 September 2020 |
2,387,129 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2019 |
1,697,430 |
|
On disposals |
(160,301) |
|
At 30 September 2020 |
1,537,129 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2020 |
850,000 |
|
At 30 September 2019 |
900,000 |
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Website & Software |
|
Fixtures & Fittings |
|
Computer Equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 October 2019 |
184,510 |
|
40,929 |
|
76,589 |
|
302,028 |
|
Additions |
33,825 |
|
- |
|
- |
|
33,825 |
|
At 30 September 2020 |
218,335 |
|
40,929 |
|
76,589 |
|
335,853 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2019 |
15,000 |
|
28,962 |
|
64,373 |
|
108,335 |
|
Charge for the year |
15,000 |
|
5,983 |
|
5,075 |
|
26,058 |
|
At 30 September 2020 |
30,000 |
|
34,945 |
|
69,448 |
|
134,393 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2020 |
188,335 |
|
5,984 |
|
7,141 |
|
201,460 |
|
At 30 September 2019 |
169,510 |
|
11,967 |
|
12,216 |
|
193,693 |
|
|
| 5 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Trade debtors |
179,353 |
|
298,120 |
|
Other debtors |
51,974 |
|
63,545 |
|
|
|
|
|
|
231,327 |
|
361,665 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans and overdrafts |
278 |
|
- |
|
Trade creditors |
94,057 |
|
118,802 |
|
Taxation and social security costs |
2,111 |
|
7,323 |
|
Other creditors |
41,708 |
|
117,256 |
|
|
|
|
|
|
138,154 |
|
243,381 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans |
49,722 |
|
- |
|
Amounts owed to group undertakings |
|
1,276,855 |
|
1,447,518 |
|
|
|
|
|
|
1,326,577 |
|
1,447,518 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Trotman Publishing Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
21D Charles Street |
|
Bath |
|
BA1 1HX |
