REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2023 |
for |
Cicerone Press Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2023 |
for |
Cicerone Press Limited |
Cicerone Press Limited (Registered number: 03690943) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Cicerone Press Limited |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
17-19 Park Street |
Lytham |
Lancashire |
FY8 5LU |
BANKERS: |
First Floor East |
Bridge Mills |
Stramongate |
Kendal |
Cumbria |
LA9 4UB |
SOLICITORS: |
10 South Parade |
Leeds |
LS1 5QS |
Cicerone Press Limited (Registered number: 03690943) |
Abridged Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Cicerone Press Limited (Registered number: 03690943) |
Abridged Balance Sheet - continued |
28 February 2023 |
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 |
Cicerone Press Limited (Registered number: 03690943) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Cicerone Press Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoice value of goods and services sold, less returns and allowances, excluding value added tax. |
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. |
Fixed assets and depreciation |
Fixed assets are stated at purchase price, less depreciation and amounts written off. Depreciation is calculated to write down the cost of tangible fixed assets to their estimated residual values over their expected useful lives, at the following annual rates:- |
Motor vehicles 3 years on cost |
Office equipment 3 years on cost |
Fixtures and fittings 10 years on cost |
Copyrights 33% straight line |
Depreciation is provided on freehold and long leasehold properties based upon the difference between book value and estimated residual value charged over the estimated useful life of the property. The directors are of the opinion that, having regard to estimated residual values, based on prices prevailing at the dates of acquisition or subsequent revaluation, and the estimated useful economic lives, any depreciation involved, either annual or cumulative, would not be material. |
Stocks and work in progress |
Stocks and work in progress are stated 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. |
Cicerone Press Limited (Registered number: 03690943) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Revenues and costs expressed in foreign currencies are translated into sterling at rates of exchange ruling on the date on which transactions occur. Assets and liabilities are translated at the rate ruling at the balance sheet date. |
Leases |
Rentals payable under operating leases are charged directly to the profit and loss account. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2022 |
Additions |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
Cicerone Press Limited (Registered number: 03690943) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Bank loans |
The bank loans and overdraft facility are secured by a fixed and floating charge over the building and its associated assets. |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the year end Creditors due more than one year of £550,000 (2022: £550,000) is made up of £200,000 owed from the company to the director, Mr J E Williams, £200,000 owed from the company to the director Mrs L J Williams, £75,000 owed from the company to the director Mr J J Williams and £75,000 owed from the company to the director Ms M N Williams.. |
9. | ULTIMATE CONTROLLING PARTY |