BackPage Press Ltd. - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: SC362583 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

BACKPAGE PRESS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Martin Greig

Neil White

SECRETARY:

Martin Greig

REGISTERED OFFICE:

4 Lea Farm Steading

Ardoch

Argyll & Bute

G82 5EW

REGISTERED NUMBER:

SC362583 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

3rd Floor

St George's Buildings

5 St Vincent Place

Glasgow

G1 2DH

BANKERS:

TSB

1589 Great Western Road

Anniesland

Glasgow

G13 1LR

CURRENT ASSETS

Stocks

16,070

21,605

Debtors

4

29,086

72,604

Cash at bank

65,249

71,354

110,405

165,563

CREDITORS

Amounts falling due within one year

5

37,405

66,167

NET CURRENT ASSETS

73,000

99,396

TOTAL ASSETS LESS CURRENT LIABILITIES

73,000

99,396

CAPITAL AND RESERVES

Called up share capital

6

4,281

4,281

Retained earnings

7

68,719

95,115

SHAREHOLDERS' FUNDS

73,000

99,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 13 September 2023 and were signed on its behalf by:

Martin Greig - Director

1.	STATUTORY INFORMATION

BackPage Press Ltd. is a private company, limited by shares , registered in Scotland. 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.

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.

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.

Grant income

Grants income is recognised in the accounting period in which it is received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

29,086

70,012

Prepayments

-

757

Value Added Tax recoverable

-

1,835

29,086

72,604

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

291

7,664

Royalties

33,505

38,674

Current Corporation Tax

2,245

15,975

Directors' current accounts

44

2,129

Accruals and deferred income

1,136

1,725

Value Added Tax payable

184

-

37,405

66,167

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4,278

Ordinary

£1

4,278

4,278

300

Deferred ordinary

£0.01

3

3

4,281

4,281

7.

RESERVES

Retained

earnings

£

At 1 January 2022

95,115

Profit for the year

9,832

Dividends

(36,228

)

At 31 December 2022

68,719

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are directors Martin Greig and Neil White who together control some 92% of the issued share capital.