Registered number
06267797
PAPER DRESS LIMITED
Filleted Accounts
31 December 2023
PAPER DRESS LIMITED
Registered number: 06267797
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,886 46,325
Current assets
Stocks 18,700 13,500
Debtors 4 11,239 10,064
Cash at bank and in hand 98,836 154,916
128,775 178,480
Creditors: amounts falling due within one year 5 (105,566) (102,774)
Net current assets 23,209 75,706
Total assets less current liabilities 63,095 122,031
Provisions for liabilities (3,649) (4,625)
Net assets 59,446 117,406
Capital and reserves
Called up share capital 200 200
Share premium 800 800
Profit and loss account 58,446 116,406
Shareholders' funds 59,446 117,406
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
H Turner Voakes
Director
Approved by the board on 9 February 2024
PAPER DRESS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Office Equipment, Fixture & Fittings 33% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 13 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 20,679 107,013 127,692
Additions - 2,166 2,166
Disposals - (55,484) (55,484)
At 31 December 2023 20,679 53,695 74,374
Depreciation
At 1 January 2023 - 81,367 81,367
Charge for the year - 6,242 6,242
On disposals - (53,121) (53,121)
At 31 December 2023 - 34,488 34,488
Net book value
At 31 December 2023 20,679 19,207 39,886
At 31 December 2022 20,679 25,646 46,325
4 Debtors 2023 2022
£ £
Trade debtors 1,061 5,906
Prepayments 8,298 4,158
Other debtors 1,880 -
11,239 10,064
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,200 13,981
Taxation and social security costs 27,514 38,123
Directors Loan Account 125 2,030
Accruals 43,727 43,640
Other creditors 5,000 5,000
105,566 102,774
6 Controlling party
The Company is controlled by Ms Hannah Turner Voakes Esq.
7 Other information
PAPER DRESS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
372 Old Street
Suite 144
London
EC1V 9LT
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