Papyrus Marketing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04150998 (England and Wales)

PAPYRUS MARKETING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

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

1,188

1,440

CURRENT ASSETS

Debtors

5

24,457

18,456

CREDITORS

Amounts falling due within one year

6

36,291

36,639

NET CURRENT LIABILITIES

(11,834

)

(18,183

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,646

)

(16,743

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(10,746

)

(16,843

)

SHAREHOLDERS' FUNDS

(10,646

)

(16,743

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 31 January 2019 and were signed by:

N Younger - Director

1.	STATUTORY INFORMATION

Papyrus Marketing Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 2018.

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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

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 (2017 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

31,812

DEPRECIATION

At 1 May 2017

30,372

Charge for year

252

At 30 April 2018

30,624

NET BOOK VALUE

At 30 April 2018

1,188

At 30 April 2017

1,440

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

3,250

5,250

Other debtors

-

2,575

Directors' current accounts

16,123

8,141

Tax

5,084

2,490

24,457

18,456

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

8,638

5,476

Trade creditors

2,599

2,247

Taxation

5,832

1,971

Other taxes and social security

6,702

1,674

Other creditors

106

69

Inter-company account

10,964

23,452

Accrued expenses

1,450

1,750

36,291

36,639

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

8,638

5,476

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

8.	OTHER FINANCIAL COMMITMENTS

The company has the following commitments due as follows:

2017

2016

£

£

Due in less than one year

3,600

3,600

3,600

3,600

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2018 and

30 April 2017:

2018

2017

£

£

N Younger

Balance outstanding at start of year

8,141

2,075

Amounts advanced

31,946

28,887

Amounts repaid

(23,964

)

(22,821

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,123

8,141

The loan made to Mr N Younger was unsecured, interest free and repayable on demand.