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Company registration number: 11219906
PAWAP LIMITED
Unaudited filleted abridged financial statements
28 February 2022
PAWAP LIMITED
Contents
Abridged statement of financial position
Notes to the financial statements
PAWAP LIMITED
Abridged statement of financial position
28 February 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 - -
Current assets
Debtors 62 -
Cash at bank and in hand 27,453 30,008
_______ _______
27,515 30,008
Creditors: amounts falling due
within one year ( 27,044) ( 28,098)
_______ _______
Net current assets 471 1,910
_______ _______
Total assets less current liabilities 471 1,910
_______ _______
Net assets 471 1,910
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 371 1,810
_______ _______
Shareholder funds 471 1,910
_______ _______
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 02 July 2022 , and are signed on behalf of the board by:
MADDALENA BALDISSERRI
Director
Company registration number: 11219906
PAWAP LIMITED
Notes to the financial statements
Year ended 28 February 2022
1. General information
The company is a private company limited by shares, registered in ENGLAND AND WALES. The address of the registered office is 29 PILGRIMS LANE, LONDON, NW3 1SX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 0 - 100% Reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the Company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
£
Cost
At 1 March 2021 -
Additions 599
_______
At 28 February 2022 599
_______
Depreciation
At 1 March 2021 -
Charge for the year 599
_______
At 28 February 2022 599
_______
Carrying amount
At 28 February 2022 -
_______
At 28 February 2021 -
_______