REGISTERED NUMBER: OC323533 (England and Wales)

Agora Business Publications LLP

Audited Financial Statements for the Year Ended 31 December 2017

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Verlag Fur die Deutsche Wirtschaft AG

Prisma Werbeagentur GmbH

REGISTERED OFFICE:

Nesfield House

Broughton

Skipton

West Yorkshire

BD23 3AN

REGISTERED NUMBER:

OC323533 (England and Wales)

AUDITORS:

Langdon West Williams PLC

Curzon House 2nd Floor

24 High Street

Banstead

Surrey

SM7 2LJ

FIXED ASSETS

Intangible assets

4

30,248

45,411

Tangible assets

5

11,315

10,780

41,563

56,191

CURRENT ASSETS

Stocks

21,520

22,590

Debtors

6

892,505

1,177,004

Cash at bank and in hand

319,319

176,224

1,233,344

1,375,818

CREDITORS

Amounts falling due within one year

7

555,718

711,254

NET CURRENT ASSETS

677,626

664,564

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

719,189

720,755

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

719,189

720,755

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

719,189

720,755

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 23 April 2018 and were signed by:

Verlag Fur die Deutsche Wirtschaft AG - Designated member

1.	STATUTORY INFORMATION

Agora Business Publications LLP is registered in England and Wales. The LLP's registered number and registered

office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards.

Related party exemption

The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions

with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the LLP's accounting policies, which are described in note 2, the members are required to

make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not

readily apparent from other sources. The estimates and associated assumptions are based on historical

experience and knowledge of the business and other factors that are considered to be relevant. Actual results

may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period,

or in the period of the revision and future period if the revision affects both current and future periods.

The key areas are summarised below:

Depreciation

The LLP exercises judgement to determine useful lives and residual values of tangible fixed assets. The assets

are depreciated down to their estimated residual values over their estimated useful lives.

Provision for trade debtors

Provisions have been made for trade debtors which potentially will not be collected. This provision is an

estimate based on the LLP's understanding, knowledge and historic trends applying to its business.

Stock

Provisions are made where necessary to ensure that stock is stated at the lower of cost and net realisable

value. This provision is an estimate based on the LLP's understanding of its future needs, knowledge and

historic trends.

Turnover

Turnover is the net receivable amount derived from the provision of goods falling within the LLP's ordinary

activities during the period after deducting refunds, cancellations and value added tax. Subscription income

paid in advance, after adjusting for refunds and cancellations, is recognised on the basis of the sales value of

publications delivered after the year end in relation to the total sales value of all items covered by the

subscription.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment & fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme

are charged to profit or loss in the period to which they relate.

Deferred promotional expenditure

Promotional expenditure incurred during the year is matched against the revenue generated by that

expenditure. Deferred promotional expenditure included in the statement of financial position represents

expenditure incurred during the year in respect of which revenue is expected to arise after the year end date.

Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at the

settlement value with the exception of bank loans which are subsequently measured at amortised cost using

the effective interest rate method.

Currency

The company's functional and presentational currency is pounds Sterling (GBP).

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2016 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2017

86,770

Additions

4,542

At 31 December 2017

91,312

AMORTISATION

At 1 January 2017

41,359

Amortisation for year

19,705

At 31 December 2017

61,064

NET BOOK VALUE

At 31 December 2017

30,248

At 31 December 2016

45,411

5.	TANGIBLE FIXED ASSETS

Office

equipment

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 January 2017

28,005

38,213

66,218

Additions

3,434

4,638

8,072

At 31 December 2017

31,439

42,851

74,290

DEPRECIATION

At 1 January 2017

25,047

30,391

55,438

Charge for year

1,686

5,851

7,537

At 31 December 2017

26,733

36,242

62,975

NET BOOK VALUE

At 31 December 2017

4,706

6,609

11,315

At 31 December 2016

2,958

7,822

10,780

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

792,409

1,068,832

Other debtors

100,096

108,172

892,505

1,177,004

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

165,683

147,017

Taxation and social security

12,166

13,120

Other creditors

377,869

551,117

555,718

711,254

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2017

2016

£

£

Amounts owed to members in respect of profits

227,189

228,755

Capital account

492,000

492,000

719,189

720,755

Falling due within one year

227,189

228,755

Falling due after more than one year

492,000

492,000

719,189

720,755

Agora Business Publications LLP's profits are automatically divided among the members based on

predetermined profit share percentages and so the LLP does not have any equity and consequently a

statement of changes in equity is not given.

Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Watt (Senior Statutory Auditor)

for and on behalf of Langdon West Williams PLC

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Verlag Fur die Deutsche Wirtschaft AG.