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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2018 |
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PEARSON PUBLISHING LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2018 |
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FOR |
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PEARSON PUBLISHING LIMITED |
PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 7 |
PEARSON PUBLISHING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 High Green |
Great Shelford |
Cambridge |
CB22 5EG |
PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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BALANCE SHEET |
31ST JULY 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Prepayments and accrued income |
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Cash at bank |
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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 LIABILITIES | ( |
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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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SHAREHOLDERS' FUNDS | ( |
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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. |
PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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BALANCE SHEET - continued |
31ST JULY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2018 |
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1. | 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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Purchase of web address |
During the year the company purchased the web address www.nimbl.co.uk. The cost is being amortised over a |
period of five years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Consolidation |
The company is exempt from the requirement to prepare consolidated financial statements on the grounds of its |
size. Hence the financial statements present the results and position of the company and not of its group. |
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Goodwill |
Goodwill arising on the acquisition of the business and assets of Pearson Digital Limited is being written off on a |
straight-line basis over its estimated useful economic life of four years. The directors believe this is appropriate |
given the rate of obsolescence of technical developments in the industry. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2018 |
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3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1st August 2017 |
and 31st July 2018 |
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AMORTISATION |
At 1st August 2017 |
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Charge for year |
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At 31st July 2018 |
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NET BOOK VALUE |
At 31st July 2018 |
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At 31st July 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st August 2017 |
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Disposals |
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At 31st July 2018 |
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DEPRECIATION |
At 1st August 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31st July 2018 |
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NET BOOK VALUE |
At 31st July 2018 |
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At 31st July 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st August 2017 |
and 31st July 2018 |
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NET BOOK VALUE |
At 31st July 2018 |
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At 31st July 2017 |
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PEARSON PUBLISHING LIMITED (REGISTERED NUMBER: 02853229) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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R&D tax relief |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 24,709 | 31,987 |
Other creditors |
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Hanford Dairy: short term loan | 32,450 | 65,850 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other loans - see note 10 |
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9. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed the directors the following: |
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G A Pearson £30,000 (2017 £30,000) |
A H Daniell £30,000 (2017 £30,000) |
Prof J R A Pearson £30,000 (2017 £30,000) |
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No interest has been charged on these loans from G A Pearson and Prof J R A Pearson. An interest rate of 2.5% |
above base rate has been charged on the loan from A H Daniell. These loans are repayable on demand and are |
due for repayment one year and one day after the year end date. |
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The amount loaned to the company by the Hanford Dairy Farm partnership in the previous year was repaid |
during this year. This amounted to £65,850. A further short term loan to the company was made during the year. |
At the year end £32,450 remained outstanding. In addition the company owed the Hanford Dairy Farm |
partnership £950,608 (2017: £950,608) for a longer term loan. Interest is now being charged on this loan at a rate |
of 3.5%. |
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The directors, G A Pearson and M A Pearson are partners in Hanford Dairy Farm, each holding 50%. |
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10. | ULTIMATE CONTROLLING PARTY |
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The is no single ultimate controlling party. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PEARSON PUBLISHING LIMITED |
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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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Pearson Publishing Limited for the year ended 31st July 2018 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. |
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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. |
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This report is made solely to the Board of Directors of Pearson Publishing 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 Pearson Publishing Limited and state those matters that we have agreed to state to the Board of Directors of Pearson Publishing 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 Pearson Publishing Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Pearson Publishing 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 profit of Pearson Publishing Limited. You consider that Pearson Publishing Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Pearson Publishing 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. |
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Chartered Accountants |
5 High Green |
Great Shelford |
Cambridge |
CB22 5EG |
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