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Report of the Director and |
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Unaudited Financial Statements for the Period 6 July 2019 to 31 December 2020 |
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Ad Lib Publishers Limited |
REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Period 6 July 2019 to 31 December 2020 |
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for |
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Ad Lib Publishers Limited |
Ad Lib Publishers Limited (Registered number: 12089095) |
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Contents of the Financial Statements |
for the Period 6 July 2019 to 31 December 2020 |
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Company Information | 1 |
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Report of the Director | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Ad Lib Publishers Limited |
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Company Information |
for the Period 6 July 2019 to 31 December 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Ad Lib Publishers Limited (Registered number: 12089095) |
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Report of the Director |
for the Period 6 July 2019 to 31 December 2020 |
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The director presents his report with the financial statements of the company for the period 6 July 2019 to 31 December 2020. |
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INCORPORATION |
The company was incorporated on 6 July 2019 and commenced trading on the same date. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of book publishing. |
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DIRECTORS |
The directors who have held office during the period from 6 July 2019 to the date of this report are as follows: |
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The director who is eligible offers himself for election at the forthcoming first Annual General Meeting. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Ad Lib Publishers Limited (Registered number: 12089095) |
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Income Statement |
for the Period 6 July 2019 to 31 December 2020 |
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Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Distribution costs |
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Administrative expenses |
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107,082 |
OPERATING LOSS and |
LOSS BEFORE TAXATION | ( |
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Tax on loss |
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LOSS FOR THE FINANCIAL
PERIOD |
( |
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Ad Lib Publishers Limited (Registered number: 12089095) |
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Balance Sheet |
31 December 2020 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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The director acknowledges his 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. |
Ad Lib Publishers Limited (Registered number: 12089095) |
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Balance Sheet - continued |
31 December 2020 |
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The financial statements were approved by the director and authorised for issue on
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Ad Lib Publishers Limited (Registered number: 12089095) |
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Notes to the Financial Statements |
for the Period 6 July 2019 to 31 December 2020 |
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1. | STATUTORY INFORMATION |
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Ad Lib Publishers Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
Ad Lib Publishers Limited (Registered number: 12089095) |
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Notes to the Financial Statements - continued |
for the Period 6 July 2019 to 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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£ |
Depreciation - owned assets |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 31 December 2020 |
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DEPRECIATION |
Charge for period |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Author advances |
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Other debtors |
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Ad Lib Publishers Limited (Registered number: 12089095) |
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Notes to the Financial Statements - continued |
for the Period 6 July 2019 to 31 December 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
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Royalties payable |
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Trade creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
£ |
Bank loans |
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