Papilo Production Management Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06895051 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Papilo Production Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs K M Wright

Ms L G Shenton

REGISTERED OFFICE:

Suite 2C, Brosnan House

175 Darkes Lane

Potters Bar

Hertfordshire

EN6 1BW

REGISTERED NUMBER:

06895051 (England and Wales)

ACCOUNTANTS:

The Greene Partnership LLP

Chartered Accountants

Suite 2C, Brosnan House

175 Darkes Lane

Potters Bar

Hertfordshire

EN6 1BW

FIXED ASSETS

Tangible assets

4

6,920

7,015

CURRENT ASSETS

Debtors

5

-

52,316

Cash at bank

67,736

51,114

67,736

103,430

CREDITORS

Amounts falling due within one year

6

11,637

34,647

NET CURRENT ASSETS

56,099

68,783

TOTAL ASSETS LESS CURRENT LIABILITIES

63,019

75,798

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

62,919

75,698

SHAREHOLDERS' FUNDS

63,019

75,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2023 and were signed on its behalf by:

Mrs K M Wright - Director

1.	STATUTORY INFORMATION

Papilo Production Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 June 2021

19,873

Additions

2,212

At 31 May 2022

22,085

DEPRECIATION

At 1 June 2021

12,858

Charge for year

2,307

At 31 May 2022

15,165

NET BOOK VALUE

At 31 May 2022

6,920

At 31 May 2021

7,015

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

-

50,610

Prepayments

-

1,706

-

52,316

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade creditors

2,926

4,014

Dividend payable

1,548

2,139

Tax

-

7,200

Social security and other taxes

2,238

5,494

VAT

1,625

14,148

Accrued expenses

3,300

1,652

11,637

34,647

7.	RELATED PARTY DISCLOSURES