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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
Page
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Paper Mache Tiger Limited Company Information for the year ended 31 October 2023
Director
Kyle Robinson
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
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Paper Mache Tiger Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
600 
Tangible assets
59,072 
79,471 
59,072 
80,071 
Current assets
Inventories
108,174 
66,754 
Debtors
968,855 
733,702 
Cash at bank and in hand
23,215 
303,560 
1,100,244 
1,104,016 
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 
Capital and reserves
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
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Paper Mache Tiger Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stock
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.
Leased assets
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.
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Paper Mache Tiger Limited Notes to the Accounts for the year ended 31 October 2023
Deferred taxation
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.
Foreign exchange
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.
Pension costs
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.
Employee benefits
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.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2022
600 
Disposals
(600)
At 31 October 2023
- 
Amortisation
At 1 November 2022
- 
At 31 October 2023
- 
Net book value
At 31 October 2023
- 
At 31 October 2022
600 
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Paper Mache Tiger Limited Notes to the Accounts for the year ended 31 October 2023
5
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 
Depreciation
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 
Net book value
At 31 October 2023
8,230 
49,723 
1,119 
59,072 
At 31 October 2022
12,377 
68,369 
(1,275)
79,471 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,552 
- 
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 
968,855 
733,702 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
19,771 
19,772 
VAT
- 
28,475 
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 
Loans from directors
- 
93 
Accruals
54,603 
46,500 
Deferred income
42,833 
196,983 
467,033 
477,476 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
28,426 
48,197 
Obligations under finance leases and hire purchase contracts
44,395 
53,293 
72,821 
101,490 
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Paper Mache Tiger Limited Notes to the Accounts for the year ended 31 October 2023
9
Share capital
2023 
2022 
£ 
£ 
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)
965 
965 
10
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.
11
Controlling party
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)
12
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.
13
Average number of employees
During the year the average number of employees was 8 (2022: 10).
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