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REGISTERED NUMBER: 05307297 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 March 2023

for

PAPAS (UK) LIMITED

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAPAS (UK) LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A Papa-Adams
Mrs C Papa-Adams



SECRETARY: A Papa-Adams



REGISTERED OFFICE: 573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



REGISTERED NUMBER: 05307297 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: Cynergy Bank
PO Box 17484
87 Chase Side
London
N14 5WH

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 360,000 390,000
Tangible assets 5 11,497 13,676
371,497 403,676

CURRENT ASSETS
Stocks 3,174 2,549
Debtors 6 415,040 408,929
Cash at bank and in hand 271,633 339,375
689,847 750,853
CREDITORS
Amounts falling due within one year 7 167,679 230,424
NET CURRENT ASSETS 522,168 520,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

893,665

924,105

CREDITORS
Amounts falling due after more than one
year

8

210,583

222,130
NET ASSETS 683,082 701,975

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 682,082 700,975
SHAREHOLDERS' FUNDS 683,082 701,975

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 directors acknowledge their 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.

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Statement of Financial Position - 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 Board of Directors and authorised for issue on 3 January 2024 and were signed on its behalf by:





A Papa-Adams - Director


PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

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

1. STATUTORY INFORMATION

Papas (UK) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 21 (2022 - 15 ) .

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 600,000
AMORTISATION
At 1 April 2022 210,000
Amortisation for year 30,000
At 31 March 2023 240,000
NET BOOK VALUE
At 31 March 2023 360,000
At 31 March 2022 390,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 94,952
Additions 695
At 31 March 2023 95,647
DEPRECIATION
At 1 April 2022 81,276
Charge for year 2,874
At 31 March 2023 84,150
NET BOOK VALUE
At 31 March 2023 11,497
At 31 March 2022 13,676

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 415,040 408,929

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,801 14,055
Trade creditors 75,728 69,328
Taxation and social security 68,324 126,293
Other creditors 10,826 20,748
167,679 230,424

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 210,583 222,130

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 159,380 165,908

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 223,384 236,185

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A and Mrs C Papa Adams.