Registered number
07544537
Pepaul Limited
Filleted Accounts
28 February 2023
Pepaul Limited
Registered number: 07544537
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 47 59
Current assets
Debtors 4 6,000 11,863
Cash at bank and in hand 7,966 513
13,966 12,376
Creditors: amounts falling due within one year 5 (5,697) (4,011)
Net current assets 8,269 8,365
Total assets less current liabilities 8,316 8,424
Creditors: amounts falling due after more than one year 6 (6,135) (8,324)
Net assets 2,181 100
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,081 -
Shareholder's funds 2,181 100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Margaret Sena
Director
Approved by the board on 19 September 2023
Pepaul Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 March 2022 689
At 28 February 2023 689
Depreciation
At 1 March 2022 630
Charge for the year 12
At 28 February 2023 642
Net book value
At 28 February 2023 47
At 28 February 2022 59
4 Debtors 2023 2022
£ £
Other debtors 6,000 11,863
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 5,698 4,011
Other creditors (1) -
5,697 4,011
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,135 8,324
7 Related party transactions
Included within other debtors is a loan to director of £4,000 (2022 - £11,863), which gives rise to tax under s455 but this tax is not payable as full relief is given to the company since the director has returned the loan fully back to the company within 9 months after the year end on 23/06/2022.
8 Controlling party
Margaret Sena is the ultimate controlling party.
9 Other information
Pepaul Limited is a private company limited by shares and incorporated in England. Its registered office is:
74 Fourth Avenue
Wickford
Essex
SS11 8RH
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