for the Period Ended 31 December 2022
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2022
Principal activities of the company
Additional information
Review of business performance and key performance indicatorsManagement recharges 2022: 3,892,772 (2021:13,238)Profit/(loss) before taxation 2022: 1,528,771 (2021 loss: 1,095,167)The results above show significant growth versus 2021 which was materially impacted by the pandemic.Results and dividendsThe directors are satisfied with the performance of the Company for the year. The directors do not recommend a dividend and none was paid during the period (2021: £Nil).Income statement:The results for the year are set out on page 5 and show the Company’s profit for the year and total comprehensive income is £1,528,772 (2021: loss of £1,095,167).Balance sheet:The balance sheet is set on page 6. The Company has total assets and total liabilities of £5,051,127 (2021: £4,748,678) and £3,862,448 (2021: £5,088,771) respectively as at 31 December 2022.OutlookThe Company’s outlook for the full 2023 year should be viewed against the performance of the Group.As regards the Group Q1 2023 has been delivered in line with expectations. Events delivered include the successful Tech Show London event at ExCeL in March 2023. Following on from the success of theevent on 2022 and the drive of new data and marketing tools the event is now positioned as a #1 must attend UK event with attendees of over 22,000. Early post show results indicate a high satisfaction scoreand with significantly more meetings booked and attended between buyers and sellers. Infarma Barcelona ran in March with growth of 12% versus 2022 and 23% versus the 2019 edition (pre CloserStill ownership). New launch Best Practice London, geo-adapted from the Birmingham event which runs in Q3, ran for the first time in March and surpassed expectations. Other events delivered in Q1 2023 include the successful Learning Technology France event in February which ran alongside a strong year 1 launch - HR Technologies France.Sales for the Group have been strong over the first quarter of 2023 and bookings are in line with expectations with forward bookings already contracted for 2024.New and innovative launches continue to be a key strategic initiative in order to deliver continued organic growth. 2023 launches include HR Technologies France, as detailed above, which ran in February. AUK version has also been launched to run alongside the hugely successful Learning Technologies event in Excel London in May. Two further 2023 launches include Clinical Pharmacy Congress North, a geoadaption of the London event which runs in May, and Women’s Health Professional Care.Financial risksThe Company's principal financial instruments comprise of amounts receivable and payable from and to other CloserStill group companies. The financial position of the Company is managed on a group basis by the directors of CloserStill Group Limited. The Group and therefore the Company has sufficient available financing facilities and remains strongly cash generative.Events after the balance sheet dateThere are no subsequent events to report after the balance sheet date.Going concernAt 31 December 2022, the Company had net current assets of £743,999 (liabilities 2021: £1,064,737), net assets of £1,188,679 (liabilities 2021: £340,093) and made a profit before tax of £1,528,772 (loss 2021: £1,095,167). The Directors consider the Company to be a going concern on the basis that the results since 31 December 2022 and forecasts prepared indicate that the Company, with the support provided by the Group, can meet its liabilities as they fall due.The Directors monitor profitability and cash generation on a Group wide basis.
Directors
The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Secretary
for the Period Ended
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| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
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Administrative expenses: | ( | ( |
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Tax: | | |
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As at
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Intangible assets: | 3 | | |
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Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | ( | |
Total assets less current liabilities: | | ( | |
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Total Shareholders' funds: | | ( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2022
Basis of measurement and preparation
Turnover policy
Intangible fixed assets amortisation policy
Other accounting policies
for the Period Ended 31 December 2022
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