PAELLA INK LTD - Accounts

PAELLA INK LTD - Accounts

PAELLA INK LTD - Company Information

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Registered Number: 07874790
England and Wales

 

 

 

PAELLA INK LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

PAELLA INK LTD
Contents Page
For the year ended 31 December 2022
Director Jonathan Weeks
Registered Number 07874790
Registered Office 37A BATES ROAD
BRIGHTON WEST SUSSEX
BN1 6PF
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2022
Principal activities
Principal activity of the company during the financial was of Event catering activities.
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Jonathan Weeks
Director

Date approved: 11 August 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 December 2022



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
11 August 2023
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 3,698    3,932 
3,698    3,932 
Current assets      
Debtors 4 7,621    5,422 
Cash at bank and in hand 317    406 
7,938    5,828 
Creditors: amount falling due within one year 5 (8,609)   (6,072)
Net current liabilities (671)   (244)
 
Total assets less current liabilities 3,027    3,688 
Creditors: amount falling due after more than one year 6 (2,733)   (3,533)
Net assets 294    155 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 194    55 
Shareholder's funds 294    155 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 11 August 2023 and were signed by:


-------------------------------
Jonathan Weeks
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2021 100  140  240 
Profit for the year 14,446  14,446 
Total comprehensive income for the year -  14,446  14,446 
Dividends (14,531) (14,531)
Total investments by and distributions to owners -  (14,531) (14,531)
At 31 December 2021 100  55  155 
At 01 January 2022 100  55  155 
Profit for the year 10,139  10,139 
Total comprehensive income for the year -  10,139  10,139 
Dividends (10,000) (10,000)
Total investments by and distributions to owners -  (10,000) (10,000)
At 31 December 2022 100  194  294 
5
General Information
PAELLA INK LTD is a private company, limited by shares, registered in England and Wales, registration number 07874790, registration address 37A BATES ROAD, BRIGHTON WEST SUSSEX, BN1 6PF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 January 2022 4,535    21,258    -    25,793 
Additions -    -    999    999 
Disposals -    -    -    - 
At 31 December 2022 4,535    21,258    999    26,792 
Depreciation
At 01 January 2022 3,947    17,914    -    21,861 
Charge for year 147    836    250    1,233 
On disposals -    -    -    - 
At 31 December 2022 4,094    18,750    250    23,094 
Net book values
Closing balance as at 31 December 2022 441    2,508    749    3,698 
Opening balance as at 01 January 2022 588    3,344    -    3,932 


4.

Debtors: amounts falling due within one year

2022
£		   2021
£
Prepayments & Accrued Income 0    227 
Directors' Current Accounts 7,621    5,195 
7,621    5,422 

5.

Creditors: amount falling due within one year

2022
£		   2021
£
Corporation Tax 6,234    3,696 
Accrued Expenses 900    900 
Other Creditors 1,475    1,476 
8,609    6,072 

6.

Creditors: amount falling due after more than one year

2022
£		   2021
£
Bank Loans & Overdrafts 2,733    3,533 
2,733    3,533 

6