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Company Registration No. 07142081 (England and Wales)
PAFBAG LIMITED Unaudited accounts for the year ended 31 May 2023
PAFBAG LIMITED Unaudited accounts Contents
Page
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PAFBAG LIMITED Company Information for the year ended 31 May 2023
Director
Richard Neville Bartrop
Secretary
Elizabeth Bartrop
Company Number
07142081 (England and Wales)
Registered Office
107 BENTS ROAD BENTS GREEN SHEFFIELD S11 9RH
Accountants
Hammond & Co 36 Chesterfield Road Market Street Staveley Derbyshire S43 3UT
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PAFBAG LIMITED Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,894 
59,868 
Current assets
Inventories
22,110 
15,500 
Debtors
49,950 
34,512 
Cash at bank and in hand
35,858 
5 
107,918 
50,017 
Creditors: amounts falling due within one year
(50,718)
(28,870)
Net current assets
57,200 
21,147 
Total assets less current liabilities
108,094 
81,015 
Creditors: amounts falling due after more than one year
(62,464)
(80,251)
Net assets
45,630 
764 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
45,628 
762 
Shareholders' funds
45,630 
764 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 October 2023 and were signed on its behalf by
Richard Neville Bartrop Director Company Registration No. 07142081
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PAFBAG LIMITED Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
PAFBAG LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07142081. The registered office is 107 BENTS ROAD, BENTS GREEN, SHEFFIELD, S11 9RH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
82,911 
556 
3,113 
86,580 
Additions
8,772 
- 
- 
8,772 
At 31 May 2023
91,683 
556 
3,113 
95,352 
Depreciation
At 1 June 2022
23,155 
444 
3,113 
26,712 
Charge for the year
17,634 
112 
- 
17,746 
At 31 May 2023
40,789 
556 
3,113 
44,458 
Net book value
At 31 May 2023
50,894 
- 
- 
50,894 
At 31 May 2022
59,756 
112 
- 
59,868 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
49,950 
34,512 
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PAFBAG LIMITED Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,791 
4,241 
VAT
5,079 
5,972 
Trade creditors
18,383 
8,136 
Taxes and social security
817 
5,063 
Other creditors
9,401 
6,361 
Loans from directors
11,247 
(903)
50,718 
28,870 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,956 
26,118 
Obligations under finance leases and hire purchase contracts
42,508 
54,133 
62,464 
80,251 
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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