Papco Paper Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04785484 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Papco Paper Trading Limited

Formerly Kraft Paper Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Hughes

REGISTERED OFFICE:

Lower Ground Floor

One George Yard

London

EC3V 9DF

REGISTERED NUMBER:

04785484 (England and Wales)

ACCOUNTANTS:

Adbell International Limited

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

CREDITORS

Amounts falling due within one year

3

(3,293

)

(3,293

)

NET CURRENT LIABILITIES

(3,293

)

(3,293

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,293

)

(3,293

)

CAPITAL AND RESERVES

Called up share capital

4

1,752

1,752

Retained earnings

(5,045

)

(5,045

)

SHAREHOLDERS' FUNDS

(3,293

)

(3,293

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 December 2018 and were signed by:

J Hughes - Director

1.	STATUTORY INFORMATION

Papco Paper Trading Limited Formerly Kraft Paper Trading 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

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act

2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below. The

accounting policies have been consistently applied within the financial statements.

The company's functional and presentation currency is US dollar.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The financial statements have been prepared on a going concern basis. The company has obtained undertakings from

its shareholders that they will continue to support the company for the foreseeable future and meet all third party

liabilities as they fall due. Given this undertaking, the directors consider it appropriate to adopt a going concern basis

in preparing the financial statements.

Creditors

Short term trade creditors are recognised initially at fair value and subsequently measured at amortised cost using the

effective interest method.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual

provisions of the instrument.

Financial assets and financial liabilities are recognised initially at fair value. Financial assets are reduced for

provision, for impairment, if required.

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

$

$

Other creditors

3,293

3,293

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

$

$

2

Ordinary shares

£500

1,752

1,752

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Memmi Giacomina Fava.