Company Registration No. 06715019 (England and Wales)
Paper Mache Tiger Limited
Unaudited accounts
for the year ended 31 October 2023
Paper Mache Tiger Limited
Unaudited accounts
Contents
Paper Mache Tiger Limited
Company Information
for the year ended 31 October 2023
Company Number
06715019 (England and Wales)
Registered Office
c/o Solid Ltd
163 City Road
London
EC1V 1NR
United Kingdom
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
Paper Mache Tiger Limited
Statement of financial position
as at 31 October 2023
Tangible assets
59,072
79,471
Inventories
108,174
66,754
Cash at bank and in hand
23,215
303,560
Creditors: amounts falling due within one year
(467,033)
(477,476)
Net current assets
633,211
626,540
Total assets less current liabilities
692,283
706,611
Creditors: amounts falling due after more than one year
(72,821)
(101,490)
Net assets
619,462
605,121
Called up share capital
965
965
Profit and loss account
618,497
604,156
Shareholders' funds
619,462
605,121
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2024 and were signed on its behalf by
Kyle Robinson
Director
Company Registration No. 06715019
Paper Mache Tiger Limited
Notes to the Accounts
for the year ended 31 October 2023
Paper Mache Tiger Limited is a private company, limited by shares, registered in England and Wales, registration number 06715019. The registered office is c/o Solid Ltd, 163 City Road, London, EC1V 1NR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 4 years straight line
Motor vehicles
over 4 years straight line
Computer equipment
over 4 years straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Paper Mache Tiger Limited
Notes to the Accounts
for the year ended 31 October 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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Intangible fixed assets
Other
Paper Mache Tiger Limited
Notes to the Accounts
for the year ended 31 October 2023
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
85,626
74,585
13,306
173,517
At 31 October 2023
85,626
74,585
13,306
173,517
At 1 November 2022
73,249
6,216
14,581
94,046
Charge for the year
4,147
18,646
(2,394)
20,399
At 31 October 2023
77,396
24,862
12,187
114,445
At 31 October 2023
8,230
49,723
1,119
59,072
At 31 October 2022
12,377
68,369
(1,275)
79,471
Amounts falling due within one year
Trade debtors
265,230
201,719
Amounts due from group undertakings etc.
607,070
499,725
Deferred tax asset
6,623
-
Accrued income and prepayments
25,265
28,370
Other debtors
62,115
3,888
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
19,771
19,772
Obligations under finance leases and hire purchase contracts
9,867
12,573
Trade creditors
184,693
133,013
Taxes and social security
59,043
36,036
Other creditors
96,223
4,031
Deferred income
42,833
196,983
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
44,395
53,293
Paper Mache Tiger Limited
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
(35) Capital redemption reserve of £1 each
(35)
(35)
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Transactions with related parties
Kyle Robinson who is a director and shareholder of Paper Mache Tiger Limited , is also a director and shareholder of Open Space Unit Ltd, Cecile Limited, Paper Mache Tiger LLC and Herculie Ltd.
At the year end Open Space Unit Ltd owed £392,905 (2022: £327,537) to Paper Mache Tiger Limited.
At the year end Cecile Limited owed £96,730 (2022: £53,660) to Paper Mache Tiger Limited.
At the year end Paper Mache Tiger LLC owed £116,300 (2022: £117,404) to Paper Mache Tiger Limited.
At the year end Herculie Ltd owed £1,135 (2022: £1,135) to Paper Mache Tiger Limited.
There were no other related party disclosures which require to be disclosed under FRS 102.
Paper Mache Tiger Limited is a 100% subsidiary of Open Space unit Ltd (registered office: c/o Solid Ltd, Eagle House, 163 City Road, London, EC1V 1NR)
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Post balance sheet events
After the year end £160,716 has been received relating to an old debt that had previously been accounted for as a bad debt.
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Average number of employees
During the year the average number of employees was 8 (2022: 10).