THE CHELSEA MAGAZINE COMPANY LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -5.9%

  £10,817,000 → £10,184,000

• Cash

  -5.2%

  £668,000 → £633,000

  lowest in 4 filed years

• Net assets

  +12.5%

  £1,957,000 → £2,201,000

• Employees

  +14.9%

  67 → 77

• Operating profit

  +177.3%

  -£397,000 → £307,000

• Profit before tax

  +184.8%

  -£375,000 → £318,000

• Wages

  +19.6%

  £2,901,000 → £3,470,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Bessler Hendrie LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Directors note a material uncertainty regarding the Group's ability to continue as a going concern due to involvement in a potential transaction related to parent entities (TMGH), which may result in changes to directors and future financing. Despite this, they deem the going concern basis appropriate for financial statements.”

Group structure

1. THE CHELSEA MAGAZINE COMPANY LIMITED · parent
   1. Chelsea Magazines Inc 100% · Shelton, Connecticut, 06484 · Magazine publisher

Significant events

• “On 15 May 2023, Bank of Scotland, pursuant to the terms of a share charge securing certain loans to Penultimate Investment Holdings Limited ("PIHL")... appointed Alastair Beveridge and Ben Browne of AlixPartners as receivers... Mr. Welch, Mr. Wentink and Mr. McTighe being appointed as directors of PAL and TMG.”
• “In October 2023, the board of PAL launched a sales process of the TMG business... sales process was suspended because PIHL reached an agreement for the Debt to be refinanced in full by certain entities controlled by Redbird IMI (the "Redbird Refinancing").”
• “On 30 November 2023, the Department for Culture, Media and Sport ("DCMS") issued the Public Interest Merger Reference (Telegraph Media Group Ltd) (Pre-emptive Action) Order 2023 to examine, amongst other things, a potential sale of TMG's business to RB Investco Limited ("RB").”
• “On 4 December 2023, as part funding of the Redbird Financing and in connection with the Option Agreement, PIHL, along with certain guarantors (including the Company) entered into a facilities agreement with RB Investco Limited as lender...”
• “On 24 May 2024, the Digital Markets, Competition and Consumers Act 2024 came into force. The Act provides that the Competition and Markets Authority ("CMA") must determine... whether that acquisition creates a "foreign state newspaper merger situation".”
• “On 29 September 2024, TMG sold its operating business, assets and certain liabilities to TMGH pursuant to the terms of a hive-down agreement dated 9 November 2023 between TMG and TMGH...”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.