Distinctive Publishing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05548166 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Distinctive Publishing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J R Graham

Mr B J Miller

Mr A G White

SECRETARY:

Mr B J Miller

REGISTERED OFFICE:

Tru-Knit House

9-11 Carliol Square

Newcastle upon Tyne

Tyne and Wear

NE1 6UF

REGISTERED NUMBER:

05548166 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

17 Queens Lane

Newcastle upon Tyne

Tyne and Wear

NE1 1RN

FIXED ASSETS

Intangible assets

5

38,878

53,981

Tangible assets

6

13,133

21,319

52,011

75,300

CURRENT ASSETS

Debtors

7

321,664

267,482

Cash at bank and in hand

7,042

13,043

328,706

280,525

CREDITORS

Amounts falling due within one year

8

296,885

237,973

NET CURRENT ASSETS

31,821

42,552

TOTAL ASSETS LESS CURRENT LIABILITIES

83,832

117,852

CREDITORS

Amounts falling due after more than one year

9

(44,274

)

(27,609

)

PROVISIONS FOR LIABILITIES

(2,495

)

(207

)

NET ASSETS

37,063

90,036

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Profit and loss account

36,063

89,036

SHAREHOLDERS' FUNDS

37,063

90,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 18 December 2019 and were signed on its behalf by:

Mr J R Graham - Director

1.	STATUTORY INFORMATION

Distinctive Publishing Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. This is the first year in which the financial statements have been prepared under the provisions of Section 1A "Small Entities" of Financial Reporting Standard FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for commissions earned, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable

that future economic benefits will flow to the entity.

Turnover:

Turnover from the rendering of publication services is recognised by reference to the stage of completion of the

contract. The stage of completion of a contract is measured by comparing the costs incurred for the work

performed to the date to the total estimated contract costs. Turnover is only recognised to the extent of

recoverable expenses when the outcome of a contract cannot be estimated reliably.

Research and development

Expenditure on research and development is written off in the year in which it is incurred, except for

expenditure on related assets, which are disclosed in these financial statements as intangible assets, and

written off over the expected useful life of those assets, being 4 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of

any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is

lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is

recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but not in excess of the amount that would have been determined had no

impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised

immediately in the profit or loss account.

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 accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits, pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Short term employee benefits are recognised as an expense in the period in which they are incurred.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2018 - 17 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2018

219,630

Additions

24,520

At 30 September 2019

244,150

AMORTISATION

At 1 October 2018

165,649

Charge for year

39,623

At 30 September 2019

205,272

NET BOOK VALUE

At 30 September 2019

38,878

At 30 September 2018

53,981

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

121,439

Additions

1,223

At 30 September 2019

122,662

DEPRECIATION

At 1 October 2018

100,120

Charge for year

9,409

At 30 September 2019

109,529

NET BOOK VALUE

At 30 September 2019

13,133

At 30 September 2018

21,319

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

70,697

99,925

Amounts recoverable on contract

134,885

70,011

Other debtors

116,082

97,546

321,664

267,482

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

72,817

91,980

Trade creditors

30,224

40,929

Taxation and social security

90,839

38,860

Other creditors

103,005

66,204

296,885

237,973

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

44,274

27,609

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

16,000

15,750

Between one and five years

4,000

20,000

20,000

35,750

11.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

61,635

82,224

The bank has a fixed and floating charge over the assets of the company.