8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,554 2,146 1,172 3,318 236 1,408 xbrli:pure xbrli:shares iso4217:GBP 13087742 2023-01-01 2023-12-31 13087742 2023-12-31 13087742 2022-12-31 13087742 2022-01-01 2022-12-31 13087742 2022-12-31 13087742 2021-12-31 13087742 core:PlantMachinery 2023-01-01 2023-12-31 13087742 bus:Director1 2023-01-01 2023-12-31 13087742 bus:Director2 2023-01-01 2023-12-31 13087742 core:WithinOneYear 2023-12-31 13087742 core:WithinOneYear 2022-12-31 13087742 core:PlantMachinery 2022-12-31 13087742 core:PlantMachinery 2023-12-31 13087742 core:ShareCapital 2023-12-31 13087742 core:ShareCapital 2022-12-31 13087742 core:SharePremium 2023-12-31 13087742 core:SharePremium 2022-12-31 13087742 core:RetainedEarningsAccumulatedLosses 2023-12-31 13087742 core:RetainedEarningsAccumulatedLosses 2022-12-31 13087742 core:PlantMachinery 2022-12-31 13087742 bus:Director1 2022-12-31 13087742 bus:Director1 2021-12-31 13087742 bus:SmallEntities 2023-01-01 2023-12-31 13087742 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13087742 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13087742 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13087742 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 13087742
Paperghosts Ltd
Filleted Unaudited Financial Statements
31 December 2023
Paperghosts Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
236
1,408
Current assets
Debtors
6
21,536
55,919
Cash at bank and in hand
70,455
19,909
--------
--------
91,991
75,828
Creditors: amounts falling due within one year
7
22,083
24,253
--------
--------
Net current assets
69,908
51,575
--------
--------
Total assets less current liabilities
70,144
52,983
--------
--------
Net assets
70,144
52,983
--------
--------
Capital and reserves
Called up share capital
100
100
Share premium account
19,900
19,900
Profit and loss account
50,144
32,983
--------
--------
Shareholders funds
70,144
52,983
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Paperghosts Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 July 2024 , and are signed on behalf of the board by:
Mr A Cordiner
Mr M Deacon
Director
Director
Company registration number: 13087742
Paperghosts Ltd
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Epworth House, 7 Lucy Street, Chester le street, DH3 3UP, Co Durham.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax that the company is expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1st January 2023 and 31st December 2023
3,554
-------
Depreciation
At 1st January 2023
2,146
Charge for the year
1,172
-------
At 31st December 2023
3,318
-------
Carrying amount
At 31st December 2023
236
-------
At 31st December 2022
1,408
-------
6. Debtors
2023
2022
£
£
Trade debtors
16,555
40,919
Other debtors
4,981
15,000
--------
--------
21,536
55,919
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
493
1,266
Accruals and deferred income
8,062
4,234
Corporation tax
4,116
7,282
Social security and other taxes
9,382
11,441
Director loan accounts
30
30
--------
--------
22,083
24,253
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
Mr A Cordiner
( 30)
( 30)
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