Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false2022-01-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09186762 2022-01-01 2022-12-31 09186762 2021-01-01 2021-12-31 09186762 2022-12-31 09186762 2021-12-31 09186762 c:Director1 2022-01-01 2022-12-31 09186762 d:FreeholdInvestmentProperty 2022-01-01 2022-12-31 09186762 d:FreeholdInvestmentProperty 2022-12-31 09186762 d:FreeholdInvestmentProperty 2021-12-31 09186762 d:CurrentFinancialInstruments 2022-12-31 09186762 d:CurrentFinancialInstruments 2021-12-31 09186762 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09186762 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09186762 d:ShareCapital 2022-12-31 09186762 d:ShareCapital 2021-12-31 09186762 d:OtherMiscellaneousReserve 2022-12-31 09186762 d:OtherMiscellaneousReserve 2021-12-31 09186762 d:RetainedEarningsAccumulatedLosses 2022-12-31 09186762 d:RetainedEarningsAccumulatedLosses 2021-12-31 09186762 c:FRS102 2022-01-01 2022-12-31 09186762 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09186762 c:FullAccounts 2022-01-01 2022-12-31 09186762 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09186762 2 2022-01-01 2022-12-31 09186762 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09186762









PAPA PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
PAPA PROPERTIES LIMITED
REGISTERED NUMBER: 09186762

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
818,169
800,000

  
818,169
800,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,045,606
1,132,550

Cash at bank and in hand
 6 
1,175,363
1,120,529

  
3,220,969
2,253,079

Creditors: amounts falling due within one year
 7 
(3,695,345)
(2,807,034)

Net current liabilities
  
 
 
(474,376)
 
 
(553,955)

Total assets less current liabilities
  
343,793
246,045

  

Net assets
  
343,793
246,045


Capital and reserves
  

Called up share capital 
  
200
200

Other reserves
  
(40,946)
(40,946)

Profit and loss account
  
384,539
286,791

  
343,793
246,045


Page 1

 
PAPA PROPERTIES LIMITED
REGISTERED NUMBER: 09186762
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M R Laub
Director

Date: 16 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Papa Properties Limited is a private company limited by shares and incorporated in England & Wales (registered number 09186762). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 4

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2022
800,000


Additions at cost
18,169



At 31 December 2022
818,169

The 2022 valuations were made by the director, on an open market value for existing use basis.







5.


Debtors

2022
2021
£
£


Trade debtors
17,768
17,251

Other debtors
2,020,793
1,113,387

Prepayments and accrued income
7,045
1,912

2,045,606
1,132,550



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,175,363
1,120,529

1,175,363
1,120,529


Page 5

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
6,000
-

Corporation tax
22,929
13,193

Other taxation and social security
1,550
14,722

Other creditors
3,645,858
2,760,275

Accruals and deferred income
19,008
18,844

3,695,345
2,807,034



8.


Other reserves

Other reserves consist of unrealised fair value gains and deficits on the revaluation of investment property.

Page 6