Papillon Laundry Services Limited 08355843 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is providing laundry services Digita Accounts Production Advanced 6.30.9574.0 true true 08355843 2023-02-01 2024-01-31 08355843 2024-01-31 08355843 bus:OrdinaryShareClass1 2024-01-31 08355843 core:CurrentFinancialInstruments 2024-01-31 08355843 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 08355843 core:FurnitureFittingsToolsEquipment 2024-01-31 08355843 core:MotorVehicles 2024-01-31 08355843 core:OtherPropertyPlantEquipment 2024-01-31 08355843 bus:SmallEntities 2023-02-01 2024-01-31 08355843 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08355843 bus:FullAccounts 2023-02-01 2024-01-31 08355843 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08355843 bus:RegisteredOffice 2023-02-01 2024-01-31 08355843 bus:Director1 2023-02-01 2024-01-31 08355843 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 08355843 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08355843 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 08355843 core:MotorCars 2023-02-01 2024-01-31 08355843 core:MotorVehicles 2023-02-01 2024-01-31 08355843 core:OfficeEquipment 2023-02-01 2024-01-31 08355843 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 08355843 countries:AllCountries 2023-02-01 2024-01-31 08355843 2023-01-31 08355843 core:FurnitureFittingsToolsEquipment 2023-01-31 08355843 core:MotorVehicles 2023-01-31 08355843 core:OtherPropertyPlantEquipment 2023-01-31 08355843 2022-02-01 2023-01-31 08355843 2023-01-31 08355843 bus:OrdinaryShareClass1 2023-01-31 08355843 core:CurrentFinancialInstruments 2023-01-31 08355843 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 08355843 core:FurnitureFittingsToolsEquipment 2023-01-31 08355843 core:MotorVehicles 2023-01-31 08355843 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08355843

Papillon Laundry Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Papillon Laundry Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Papillon Laundry Services Limited

Company Information

Director

Mr K Davies

Registered office

44 London Street
Reading
Berkshire
RG1 4SQ

Accountants

Tymar Associates Limited
Chartered Certified Accountants
44 London Street
Reading
Berkshire
RG1 4SQ

 

Papillon Laundry Services Limited

(Registration number: 08355843)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

3,690

5,682

Current assets

 

Debtors

32,923

30,105

Cash at bank and in hand

 

2,726

1,247

 

35,649

31,352

Creditors: Amounts falling due within one year

(71,169)

(54,931)

Net current liabilities

 

(35,520)

(23,579)

Net liabilities

 

(31,830)

(17,897)

Capital and reserves

 

Called up share capital

4

100

100

Retained earnings

(31,930)

(17,997)

Shareholders' deficit

 

(31,830)

(17,897)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 April 2024
 

.........................................
Mr K Davies
Director

 

Papillon Laundry Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Papillon Laundry Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Papillon Laundry Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

995

18,747

4,628

24,370

At 31 January 2024

995

18,747

4,628

24,370

Depreciation

At 1 February 2023

995

14,883

2,810

18,688

Charge for the year

-

966

1,026

1,992

At 31 January 2024

995

15,849

3,836

20,680

Carrying amount

At 31 January 2024

-

2,898

792

3,690

At 31 January 2023

-

3,864

1,818

5,682

4

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100