Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09186762 2023-01-01 2023-12-31 09186762 2022-01-01 2022-12-31 09186762 2023-12-31 09186762 2022-12-31 09186762 c:Director1 2023-01-01 2023-12-31 09186762 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 09186762 d:FreeholdInvestmentProperty 2023-12-31 09186762 d:FreeholdInvestmentProperty 2022-12-31 09186762 d:CurrentFinancialInstruments 2023-12-31 09186762 d:CurrentFinancialInstruments 2022-12-31 09186762 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09186762 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09186762 d:ShareCapital 2023-12-31 09186762 d:ShareCapital 2022-12-31 09186762 d:OtherMiscellaneousReserve 2023-12-31 09186762 d:OtherMiscellaneousReserve 2022-12-31 09186762 d:RetainedEarningsAccumulatedLosses 2023-12-31 09186762 d:RetainedEarningsAccumulatedLosses 2022-12-31 09186762 c:FRS102 2023-01-01 2023-12-31 09186762 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09186762 c:FullAccounts 2023-01-01 2023-12-31 09186762 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09186762 2 2023-01-01 2023-12-31 09186762 4 2023-01-01 2023-12-31 09186762 6 2023-01-01 2023-12-31 09186762 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09186762









PAPA PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PAPA PROPERTIES LIMITED
REGISTERED NUMBER: 09186762

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
929,787
818,169

  
929,787
818,169

Current assets
  

Debtors: amounts falling due within one year
 5 
1,023,404
2,045,606

Cash at bank and in hand
 6 
840,294
1,175,363

  
1,863,698
3,220,969

Creditors: amounts falling due within one year
 7 
(3,826,483)
(3,695,345)

Net current liabilities
  
 
 
(1,962,785)
 
 
(474,376)

Total assets less current liabilities
  
(1,032,998)
343,793

  

Net (liabilities)/assets
  
(1,032,998)
343,793


Capital and reserves
  

Called up share capital 
  
200
200

Other reserves
  
(40,946)
(40,946)

Profit and loss account
  
(992,252)
384,539

  
(1,032,998)
343,793

Page 1

 
PAPA PROPERTIES LIMITED
REGISTERED NUMBER: 09186762
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M R Laub
Director

Date: 15 August 2024

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Papa Properties Limited is a private company limited by shares and incorporated in England & Wales (registered number 09186762). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
818,169


Additions at cost
111,618



At 31 December 2023
929,787

The 2023 valuations were made by the director, on an open market value for existing use basis.







5.


Debtors

2023
2022
£
£


Trade debtors
15,308
17,768

Other debtors
1,000,000
2,020,793

Prepayments and accrued income
8,096
7,045

1,023,404
2,045,606



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
840,294
1,175,363

840,294
1,175,363


Page 5

 
PAPA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
131
6,000

Corporation tax
36,168
22,929

Other taxation and social security
2,411
1,550

Other creditors
3,768,600
3,645,858

Accruals and deferred income
19,173
19,008

3,826,483
3,695,345



8.


Other reserves

Other reserves consist of unrealised fair value gains and deficits on the revaluation of investment property.

Page 6