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

REGISTERED NUMBER: 02102017 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

PLIMSOLL PUBLISHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Turkington B Agr

Mrs E A McMorris B A

Mr D J Turkington B Sc, MBA

SECRETARY:

Mrs E A McMorris B A

REGISTERED OFFICE:

Scotswood House

Thornaby Place

Thornaby

Stockton-on-Tees

TS17 6SB

REGISTERED NUMBER:

02102017 (England and Wales)

ACCOUNTANTS:

Cave Adams

12 Letch Road

Stockton-on-Tees

Cleveland

TS20 1JD

FIXED ASSETS

Tangible assets

4

315,874

312,158

Investments

5

100

100

315,974

312,258

CURRENT ASSETS

Stocks

29,758

38,950

Debtors

6

432,968

744,436

Cash at bank

507,551

744,969

970,277

1,528,355

CREDITORS

Amounts falling due within one year

7

277,113

709,951

NET CURRENT ASSETS

693,164

818,404

TOTAL ASSETS LESS CURRENT LIABILITIES

1,009,138

1,130,662

CREDITORS

Amounts falling due after more than one year

8

13,968

44,788

NET ASSETS

995,170

1,085,874

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

994,170

1,084,874

SHAREHOLDERS' FUNDS

995,170

1,085,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2020 and were signed on its behalf by:

Mr D J Turkington B Sc, MBA - Director

1.	STATUTORY INFORMATION

Plimsoll 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 20% on cost, 10% on cost and at varying rates on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 tax

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2018 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

24,596

160,942

448,537

634,075

Additions

1,064

137,880

18,151

157,095

Disposals

-

(91,450

)

-

(91,450

)

At 31 December 2019

25,660

207,372

466,688

699,720

DEPRECIATION

At 1 January 2019

15,626

58,800

247,491

321,917

Charge for year

2,055

35,286

84,497

121,838

Eliminated on disposal

-

(59,909

)

-

(59,909

)

At 31 December 2019

17,681

34,177

331,988

383,846

NET BOOK VALUE

At 31 December 2019

7,979

173,195

134,700

315,874

At 31 December 2018

8,970

102,142

201,046

312,158

Fixed assets, included in the above, which are held under finance leases are as follows:

Office

equipment

£

COST

At 1 January 2019

and 31 December 2019

165,560

DEPRECIATION

At 1 January 2019

89,171

Charge for year

30,810

At 31 December 2019

119,981

NET BOOK VALUE

At 31 December 2019

45,579

At 31 December 2018

76,389

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

and 31 December 2019

100

NET BOOK VALUE

At 31 December 2019

100

At 31 December 2018

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

202,865

194,644

Other debtors

230,103

549,792

432,968

744,436

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Finance leases

30,810

30,810

Trade creditors

136,530

464,550

Taxation and social security

74,877

192,530

Other creditors

34,896

22,061

277,113

709,951

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Finance leases

13,968

44,788

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Finance leases

44,778

75,598