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REGISTERED NUMBER: 11344502 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Paper and Scissors Ltd

Paper and Scissors Ltd (Registered number: 11344502)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Paper and Scissors Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: L Chang





REGISTERED OFFICE: Lytchett House
13 Freeland Park
Wareham Road
Poole
Dorset
BH16 6FA





REGISTERED NUMBER: 11344502 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

Paper and Scissors Ltd (Registered number: 11344502)

Abridged Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 756 1,008

CURRENT ASSETS
Debtors 18,288 11,592
Cash at bank 17,523 61,454
35,811 73,046
CREDITORS
Amounts falling due within one year 14,981 10,538
NET CURRENT ASSETS 20,830 62,508
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,586

63,516

PROVISIONS FOR LIABILITIES 5 144 192
NET ASSETS 21,442 63,324

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 21,342 63,224
SHAREHOLDERS' FUNDS 21,442 63,324

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 and Scissors Ltd (Registered number: 11344502)

Abridged Balance Sheet - continued
31 May 2023


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 January 2024 and were signed by:





L Chang - Director


Paper and Scissors Ltd (Registered number: 11344502)

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

1. STATUTORY INFORMATION

Paper and Scissors Ltd 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
The turnover represents net invoiced sales of goods and services, excluding value added tax, arising from consultancy services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 1 (2022 - 1 ) .

Paper and Scissors Ltd (Registered number: 11344502)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 1,672
DEPRECIATION
At 1 June 2022 664
Charge for year 252
At 31 May 2023 916
NET BOOK VALUE
At 31 May 2023 756
At 31 May 2022 1,008

5. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 144 192

Deferred
tax
£   
Balance at 1 June 2022 192
Provided during year (48 )
Balance at 31 May 2023 144

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

7. SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
L Chang
Balance outstanding at start of year 946 923
Amounts advanced 12,836 312
Amounts repaid - (289 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,782 946