Papyrus Marketing Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04150998 (England and Wales)

PAPYRUS MARKETING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

N Younger

SECRETARY:

D Younger

REGISTERED OFFICE:

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

REGISTERED NUMBER:

04150998 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

555

670

CURRENT ASSETS

Debtors

5

14,952

10,332

CREDITORS

Amounts falling due within one year

6

42,814

50,465

NET CURRENT LIABILITIES

(27,862

)

(40,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,307

)

(39,463

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(27,407

)

(39,563

)

SHAREHOLDERS' FUNDS

(27,307

)

(39,463

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 24 April 2023 and were signed by:

N Younger - Director

1.	STATUTORY INFORMATION

Papyrus Marketing 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.

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 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.

Going concern

The company has net liabilities at 30 April 2022.

However, the financial statements have been prepared on a going concern basis since it is anticipated that the company will continue to be supported for the foreseeable future by the director and the company's bankers.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

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

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2021

and 30 April 2022

31,812

DEPRECIATION

At 1 May 2021

31,142

Charge for year

115

At 30 April 2022

31,257

NET BOOK VALUE

At 30 April 2022

555

At 30 April 2021

670

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

360

1,000

Other debtors

9,508

4,248

Tax

5,084

5,084

14,952

10,332

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,165

13,418

Trade creditors

1,421

4,323

Taxation

331

244

Other taxes and social security

18,836

16,817

Other creditors

-

273

Inter-company account

-

10,968

Directors' current accounts

8,811

3,222

Accrued expenses

3,250

1,200

42,814

50,465

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank overdrafts

10,165

13,418

The bank overdraft is secured by fixed and floating charges over the company's assets.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

9.	OTHER FINANCIAL COMMITMENTS

The company has the following commitments due:

2022

2021

£

£

Due in less than one year

-

3,600

-

3,600