David Fickling Books Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08340307 (England and Wales)

DAVID FICKLING BOOKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

D Fickling

C J Fickling

L Barratt

S E Caro

I G Van Den Berg

T M Fickling

E J Cross

REGISTERED OFFICE:

41 Cornmarket Street

Oxford

OX1 3HA

REGISTERED NUMBER:

08340307 (England and Wales)

ACCOUNTANTS:

Mercer Lewin Ltd

Chartered Accountants

41 Cornmarket Street

Oxford

OX1 3HA

FIXED ASSETS

Intangible assets

4

7,821

-

Tangible assets

5

946

-

8,767

-

CURRENT ASSETS

Stocks

333,840

342,614

Debtors

6

661,049

590,121

Cash at bank and in hand

72,039

119,250

1,066,928

1,051,985

CREDITORS

Amounts falling due within one year

7

514,632

687,988

NET CURRENT ASSETS

552,296

363,997

TOTAL ASSETS LESS CURRENT LIABILITIES

561,063

363,997

CREDITORS

Amounts falling due after more than one year

8

824,011

775,962

NET LIABILITIES

(262,948

)

(411,965

)

CAPITAL AND RESERVES

Called up share capital

3,027

2,778

Share premium

1,523,313

1,273,561

Retained earnings

(1,789,288

)

(1,688,304

)

(262,948

)

(411,965

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 29 September 2022 and were signed on its behalf by:

C J Fickling - Director

1.	STATUTORY INFORMATION

David Fickling Books 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no judgements that are deemed to have had a significant effect on amounts recognised in the financial statements.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

TANGIBLE FIXED ASSETS

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

Equipment

-

33% on 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 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 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.

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.

GOING CONCERN

The company has experienced a loss during the year. During the year, and since, measures have been put in place to control costs and a further investment has been obtained. The company has exceeded income budgets in the first half of 2021 and the directors are confident of a positive cashflow. Therefore, the directors consider that it is appropriate that the accounts be prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

7,821

At 31 December 2021

7,821

NET BOOK VALUE

At 31 December 2021

7,821

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 January 2021

27,926

Additions

1,412

At 31 December 2021

29,338

DEPRECIATION

At 1 January 2021

27,926

Charge for year

466

At 31 December 2021

28,392

NET BOOK VALUE

At 31 December 2021

946

At 31 December 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

607,531

555,158

Other debtors

53,518

34,963

661,049

590,121

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

10,903

Trade creditors

101,528

105,411

Amounts owed to group undertakings

320,642

256,492

Taxation and social security

11,286

11,574

Other creditors

81,176

303,608

514,632

687,988

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

302,146

254,097

Other creditors

521,865

521,865

824,011

775,962

9.	RELATED PARTY DISCLOSURES

The company has been lent money by David Fickling Comics Limited, a company under common control. No interest is payable. The amount owed to David Fickling Comics Ltd as at 31 December 2021 was £320,642.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Fickling Books Limited for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of David Fickling Books Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of David Fickling Books Limited and state those matters that we have agreed to state to the Board of Directors of David Fickling Books Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Fickling Books Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that David Fickling Books 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 loss of David Fickling Books Limited. You consider that David Fickling Books 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 David Fickling Books 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.

Mercer Lewin Ltd

Chartered Accountants

41 Cornmarket Street

Oxford

OX1 3HA

29 September 2022