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PAPERCLIP LIMITED

Registered Number
11681030
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

PAPERCLIP LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Dr Julia Launhard

Registered Address

1 Harbledown Road
London
SW6 5TW

Registered Number

11681030 (England and Wales)
PAPERCLIP LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors316,81725,385
Cash at bank and on hand16,9758,572
33,79233,957
Creditors amounts falling due within one year4(14,270)(14,724)
Net current assets (liabilities)19,52219,233
Total assets less current liabilities19,52219,233
Net assets19,52219,233
Capital and reserves
Called up share capital11
Profit and loss account19,52119,232
Shareholders' funds19,52219,233
The financial statements were approved and authorised for issue by the Director on 8 April 2024, and are signed on its behalf by:
Dr Julia Launhard
Director
Registered Company No. 11681030
PAPERCLIP LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
The financial statements have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
2.Average number of employees

20232022
Average number of employees during the year11
3.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables16,13024,870
Other debtors333333
Prepayments and accrued income354182
Total16,81725,385
4.Creditors: amounts due within one year

2023

2022

££
Taxation and social security683,061
Other creditors14,20211,123
Accrued liabilities and deferred income-540
Total14,27014,724
5.Related party transactions
The director maintains an interest free loan with the company. The balance owed to the director as at 30 November 2023 was £14,202 (2022 - £11,123).