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REGISTERED NUMBER: 04383901 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Paper Projects Limited

Paper Projects Limited (Registered number: 04383901)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Paper Projects Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms LM Dixon





SECRETARY: I D Ferguson





REGISTERED OFFICE: Unit 1
Haslemere Industrial Estate
Pig Lane
Bishops Stortford
Hertfordshire
CM23 3HG





REGISTERED NUMBER: 04383901 (England and Wales)





ACCOUNTANTS: Lawrence & Company
Chartered Certified Accountants
26 Bell Street
Sawbridgeworth
Hertfordshire
CM21 9AN

Paper Projects Limited (Registered number: 04383901)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,734 22,979

CURRENT ASSETS
Stocks 526,560 431,937
Debtors 5 260,381 280,088
Cash at bank 806 1,554
787,747 713,579
CREDITORS
Amounts falling due within one year 6 400,303 281,706
NET CURRENT ASSETS 387,444 431,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,178

454,852

CREDITORS
Amounts falling due after more than one
year

7

150,449

169,720
NET ASSETS 256,729 285,132

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 8 34,848 34,848
Retained earnings 8 221,781 250,184
SHAREHOLDERS' FUNDS 256,729 285,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Paper Projects Limited (Registered number: 04383901)

Balance Sheet - continued
31 March 2023


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

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 and authorised for issue on 13 November 2023 and were signed by:





Ms LM Dixon - Director


Paper Projects Limited (Registered number: 04383901)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Paper Projects Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Paper Projects Limited (Registered number: 04383901)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 127,085 1,343 22,045 13,864 164,337
Additions - 1,713 - 1,723 3,436
At 31 March 2023 127,085 3,056 22,045 15,587 167,773
DEPRECIATION
At 1 April 2022 120,952 1,343 5,511 13,552 141,358
Charge for year 1,533 428 4,134 586 6,681
At 31 March 2023 122,485 1,771 9,645 14,138 148,039
NET BOOK VALUE
At 31 March 2023 4,600 1,285 12,400 1,449 19,734
At 31 March 2022 6,133 - 16,534 312 22,979

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 22,045
DEPRECIATION
At 1 April 2022 5,511
Charge for year 4,134
At 31 March 2023 9,645
NET BOOK VALUE
At 31 March 2023 12,400
At 31 March 2022 16,534

Paper Projects Limited (Registered number: 04383901)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 181,877 196,142
Prepayments and accrued income 78,504 83,946
260,381 280,088

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 33,664 10,000
Import loan 115,469 126,777
Hire purchase contracts 3,941 3,941
Trade creditors 157,473 57,800
Taxation 28,596 15,301
Social security and other taxes 36,863 39,541
Accrued expenses 24,297 28,346
400,303 281,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,389 22,094
Directors loan account 117,525 123,149
Hire purchase contracts 10,535 14,477
150,449 169,720

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 250,184 34,848 285,032
Profit for the year 16,597 - 16,597
Dividends (45,000 ) - (45,000 )
At 31 March 2023 221,781 34,848 256,629

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,500 (2022 - £29,700) were paid to the director .

The director controls the company by virtue of a direct controlling interest of 90% of the issued ordinary share capital.

Paper Projects Limited

Report of the Accountants to the Director of
Paper Projects Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Lawrence & Company
Chartered Certified Accountants
26 Bell Street
Sawbridgeworth
Hertfordshire
CM21 9AN


13 November 2023