General Information
N C Press Limited is a private company, limited by shares, registered in England and Wales, registration number 01399130, registration address Mountbatten House, Grosvenor Square, Southampton, SO15 2JU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised from 1 May 2009 evenly over the remainder of its estimated useful life of 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
20% Reducing Balance
|
Investment properties
Investment properties are recorded at fair value as assessed by the directors at the balance sheet date. These are not depreciated.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2022 : 0).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 May 2022 |
197,215 |
|
197,215 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 April 2023 |
197,215 |
|
197,215 |
| Amortisation |
| At 01 May 2022 |
197,215 |
|
197,215 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 30 April 2023 |
197,215 |
|
197,215 |
| Net book values |
| At 30 April 2023 |
- |
|
- |
| At 30 April 2022 |
- |
|
- |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 May 2022 |
1,822 |
|
1,822 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 April 2023 |
1,822 |
|
1,822 |
| Depreciation |
| At 01 May 2022 |
1,757 |
|
1,757 |
| Charge for year |
13 |
|
13 |
| On disposals |
- |
|
- |
| At 30 April 2023 |
1,770 |
|
1,770 |
| Net book values |
| Closing balance as at 30 April 2023 |
52 |
|
52 |
| Opening balance as at 01 May 2022 |
65 |
|
65 |
|
| 5. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 May 2022 |
492,336 |
|
492,336 |
| Additions |
- |
|
- |
| Transfer to/from tangible fixed assets |
0 |
|
0 |
| Disposals |
- |
|
- |
| Revaluations |
53,125 |
|
53,125 |
| At 30 April 2023 |
545,461 |
|
545,461 |
The above total includes £5,461 being a 14.14% holding in a UK unquoted company stated at cost.
The remaining £499,047 (2022 - £486,875) represents the value of the company investment properties as revalued to fair value by the directors at the balance sheet date. The historical cost of these properties is £224,668.
|
| 6. |
Debtors: amounts falling due within one year
|
2023
£ |
|
2022
£ |
| Prepayments & Accrued Income |
(1) |
|
(1) |
|
(1) |
|
(1) |
|
| 7. |
Creditors: amount falling due within one year
|
2023
£ |
|
2022
£ |
| Corporation Tax |
2,986 |
|
3,105 |
| Accrued Expenses |
1,476 |
|
1,548 |
| Directors' Current Accounts |
4,720 |
|
4,408 |
|
9,182 |
|
9,061 |
|
| 8. |
Provisions for liabilities
|
2023
£ |
|
2022
£ |
| Deferred Tax |
52,805 |
|
30,038 |
|
52,805 |
|
30,038 |
|
| 9. |
Share Capital
Allotted, called up and fully paid
|
2023
£ |
|
2022
£ |
|
10,000
Ordinary shares of £1.00 each |
10,000 |
|
10,000 |
|
10,000 |
|
10,000 |
|
| 10. |
Reserves
|
2023
£ |
|
2022
£ |
| Revaluation Reserve b/fwd |
251,381 |
|
241,762 |
| Revaluation of Fixed Assets |
53,125 |
|
11,875 |
| Deferred Tax Provided on Revaluation |
(22,767) |
|
(2,256) |
|
281,739 |
|
251,381 |
|
| 11. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2023
£ | | 2022
£ | | 2023
£ | | 2022
£ |
|---|
| Mr N C Press | 0 | | 0 | | (4,720) | | (4,408) |
The loan is interest free with no fixed date of repayment. |
| 12. |
Dividend
During the year, total dividend of £15,500 (2022 - £19,000) were paid to the director.
|
3
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