Oldroyd Publishing Group Limited 31/12/2023 iXBRL

Oldroyd Publishing Group Limited 31/12/2023 iXBRL

OLDROYD PUBLISHING GROUP LIMITED - Company Information

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24 31/12/2023 2023-12-31 false false false false false false false false false false true false false true false false false true false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 2033508 2023-01-01 2023-12-31 2033508 2023-12-31 2033508 2022-12-31 2033508 2022-01-01 2022-12-31 2033508 2022-12-31 2033508 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 2033508 bus:RegisteredOffice 2023-01-01 2023-12-31 2033508 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 2033508 bus:Director1 2023-01-01 2023-12-31 2033508 bus:Director2 2023-01-01 2023-12-31 2033508 core:FurnitureFittingsToolsEquipment 2022-12-31 2033508 core:FurnitureFittingsToolsEquipment 2023-12-31 2033508 core:WithinOneYear 2023-12-31 2033508 core:WithinOneYear 2022-12-31 2033508 core:ShareCapital 2023-12-31 2033508 core:ShareCapital 2022-12-31 2033508 core:RetainedEarningsAccumulatedLosses 2023-12-31 2033508 core:RetainedEarningsAccumulatedLosses 2022-12-31 2033508 core:BetweenOneFiveYears 2023-12-31 2033508 core:BetweenOneFiveYears 2022-12-31 2033508 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 2033508 core:Non-currentFinancialInstruments 2023-12-31 2033508 core:Non-currentFinancialInstruments 2022-12-31 2033508 core:FurnitureFittingsToolsEquipment 2022-12-31 2033508 bus:Director1 2023-12-31 2033508 bus:Director1 2022-12-31 2033508 bus:SmallEntities 2023-01-01 2023-12-31 2033508 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 2033508 bus:FullAccounts 2023-01-01 2023-12-31 2033508 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 2033508 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 2033508 core:Subsidiary1 2023-01-01 2023-12-31 2033508 core:Subsidiary1 2022-01-01 2022-12-31 2033508 core:Subsidiary2 2023-01-01 2023-12-31 2033508 core:Subsidiary2 2022-01-01 2022-12-31 2033508 core:Subsidiary3 2023-01-01 2023-12-31 2033508 core:Subsidiary4 2023-01-01 2023-12-31 2033508 core:Subsidiary5 2023-01-01 2023-12-31 2033508 core:Subsidiary1 2023-12-31 2033508 core:Subsidiary1 2022-12-31 2033508 core:Subsidiary2 2023-12-31 2033508 core:Subsidiary2 2022-12-31 2033508 core:Subsidiary3 2023-12-31 2033508 core:Subsidiary3 2022-12-31 2033508 core:Subsidiary4 2023-12-31 2033508 core:Subsidiary4 2022-12-31 2033508 core:Subsidiary5 2023-12-31 2033508 core:Subsidiary5 2022-12-31
Company registration number: 2033508
Oldroyd Publishing Group Limited
Unaudited filleted financial statements
31 December 2023
Oldroyd Publishing Group Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Oldroyd Publishing Group Limited
Directors and other information
Directors H D Oldroyd
G H Oldroyd
Company number 2033508
Registered office 15 Olympic Court
Whitehills Business Park
Blackpool
Lancs
FY4 5GU
Business address 15 Olympic Court
Whitehills Business Park
Blackpool
Lancs
FY4 5GU
Accountants Turner and Brown Limited
105 Garstang Road
Preston
Lancs
PR1 1LD
Bankers HSBC Bank PLC
11 St Annes Road West
St Annes on Sea
Lancashire
FY8 1SA
Oldroyd Publishing Group Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Oldroyd Publishing Group Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oldroyd Publishing Group Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Oldroyd Publishing Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Oldroyd Publishing Group Limited and state those matters that we have agreed to state to the board of directors of Oldroyd Publishing Group Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oldroyd Publishing Group Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Oldroyd Publishing Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oldroyd Publishing Group Limited. You consider that Oldroyd Publishing Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Oldroyd Publishing Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Turner and Brown Limited
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
3 April 2024
Oldroyd Publishing Group Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 61,092 47,814
Investments 6 170,687 170,687
_______ _______
231,779 218,501
Current assets
Debtors 7 1,210,716 1,296,615
Cash at bank and in hand 8,139 5,922
_______ _______
1,218,855 1,302,537
Creditors: amounts falling due
within one year 8 ( 447,255) ( 334,948)
_______ _______
Net current assets 771,600 967,589
_______ _______
Total assets less current liabilities 1,003,379 1,186,090
Provisions for liabilities ( 14,596) ( 12,481)
_______ _______
Net assets 988,783 1,173,609
_______ _______
Capital and reserves
Called up share capital 20,000 20,000
Profit and loss account 968,783 1,153,609
_______ _______
Shareholders funds 988,783 1,173,609
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 April 2024 , and are signed on behalf of the board by:
G H Oldroyd
Director
Company registration number: 2033508
Oldroyd Publishing Group Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Olympic Court, Whitehills Business Park, Blackpool, Lancs, FY4 5GU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non- vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
Group Accounts
The company is the holding company of a small group and in entitled under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts. These accounts present information about the company as an individual undertaking and not about its group.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2022: 26 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 140,527 140,527
Additions 32,192 32,192
Disposals ( 9,940) ( 9,940)
_______ _______
At 31 December 2023 162,779 162,779
_______ _______
Depreciation
At 1 January 2023 92,713 92,713
Charge for the year 17,229 17,229
Disposals ( 8,255) ( 8,255)
_______ _______
At 31 December 2023 101,687 101,687
_______ _______
Carrying amount
At 31 December 2023 61,092 61,092
_______ _______
At 31 December 2022 47,814 47,814
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2023 and 31 December 2023 170,687 170,687
_______ _______
Impairment
At 1 January 2023 and 31 December 2023 - -
_______ _______
Carrying amount
At 31 December 2023 170,687 170,687
_______ _______
At 31 December 2022 170,687 170,687
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors - ( 60)
Amounts owed by group undertakings 1,195,436 1,286,795
Other debtors 15,280 9,880
_______ _______
1,210,716 1,296,615
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,783 10,333
Amounts owed to group undertakings 402,186 284,064
Corporation tax 3,536 4,051
Social security and other taxes 26,600 29,208
Other creditors 13,150 7,292
_______ _______
447,255 334,948
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 23,364 23,364
_______ _______
10. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
H D Oldroyd 1,439 1,439
_______ _______
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
Neighbourhood Direct Limited 732,273 888,853 ( 118,122) 103,679
Oldroyd Publishing Limited 125,816 159,122 2,576,399 2,577,182
Estates Press Limited - - ( 104,039) ( 104,039)
Webwize UK Limited - - ( 80,025) ( 80,025)
Homebuyers Services Advertising Limited - - ( 100,000) ( 100,000)
_______ _______ _______ _______
12. Controlling party
The company is not under the control of any one person.
13. Investments (continued)
Group Undertakings
Shares in group undertakings are valued at cost less provisions for permanent diminution in value. On this basis the company has the following investments in subsidiary companies, all of which are registered in England -
Name of subsidiary Ordinary 2023 % held 2022
Shares
held
Homebuyers Services Advertising Limited 100 15,072 100 15,072
Oldroyd Publishing Limited 100 - 100 -
Estates Press Limited 100 210 100 210
Neighbourhood Direct Limited 100 155,303 100 155,303
Webwize UK Limited 100 100 100 100
Neighbourhood Professionals Limited 1 1 100 1
Social Active Limited 1 1 100 1
_______ _______
170,687 170,687
_______ _______
The aggregate amount of the subsidiary companies' capital and reserves, as at 31 December 2023, and their profit or loss before taxation, for the year ended on that date, were as follows -
Name of subsidiary 2023 2022
Capital & Profit/ Capital & Profit/
Reserves (Loss) Reserves (Loss)
£ £ £ £
Homebuyers Services Advertising Limited 106,225 971 105,254 946
Oldroyd Publishing Limited (2,238,541) 57,947 (2,284,360) 4,155
Estates Press Limited 78,367 (35) 78,393 (35)
Neighbourhood Direct Limited 625,690 174,509 491,407 116,140
Webwize UK Limited 83,316 1,199 82,108 1,199
Neighbourhood Professionals Limited 1 - 1 -
Social Active Limited 1 - 1 -
The following companies did not trade during the year -
Homebuyers Services Advertising Limited
Estates Press Limited
Webwize UK Limited
Neighbourhood Professionals Limited
Social Active Limited