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REGISTERED NUMBER: 06690802 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

THE PAPERSHOP HIGHLEY LTD

THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE PAPERSHOP HIGHLEY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs Rajpreet Kaur Bajwa
Mrs. Paramjit Kaur
Mr Kulwant Singh
Mr Taranjit Singh Dhaliwal





REGISTERED OFFICE: Hawthorn House
Highley
NR Bridgnorth
Shropshire
WV16 6LQ





REGISTERED NUMBER: 06690802 (England and Wales)





ACCOUNTANTS: Ark Aurora Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 202,292 202,292
Tangible assets 5 18,897 21,092
Investments 6 1 1
221,190 223,385

CURRENT ASSETS
Stocks 88,615 120,250
Debtors 7 158,999 32,164
Cash in hand 5,720 3,932
253,334 156,346
CREDITORS
Amounts falling due within one year 8 78,454 111,318
NET CURRENT ASSETS 174,880 45,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,070

268,413

CREDITORS
Amounts falling due after more than one
year

9

185,871

58,827
NET ASSETS 210,199 209,586

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 210,195 209,582
SHAREHOLDERS' FUNDS 210,199 209,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

BALANCE SHEET - continued
31 OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Mr Kulwant Singh - Director


THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

The Papershop Highley Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about The Papershop Highley Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 202,292
NET BOOK VALUE
At 31 October 2023 202,292
At 31 October 2022 202,292

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 8,400 55,531 22,586 2,402 88,919
DEPRECIATION
At 1 November 2022 - 49,292 17,732 803 67,827
Charge for year - 936 726 533 2,195
At 31 October 2023 - 50,228 18,458 1,336 70,022
NET BOOK VALUE
At 31 October 2023 8,400 5,303 4,128 1,066 18,897
At 31 October 2022 8,400 6,239 4,854 1,599 21,092

THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 1
NET BOOK VALUE
At 31 October 2023 1
At 31 October 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 158,971 32,164
VAT 28 -
158,999 32,164

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 28,139 30,464
Trade creditors 25,235 30,547
Tax 17,204 31,027
Social security and other taxes 1,022 100
VAT - 173
Other creditors 4,334 14,861
Accrued expenses 2,520 4,146
78,454 111,318

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 5,299 5,299
Bank loans - 2-5 years 15,170 16,713
Bank loans more 5 yr by instal 11,719 15,344
Other creditors 153,683 21,471
185,871 58,827

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,719 15,344

THE PAPERSHOP HIGHLEY LTD (REGISTERED NUMBER: 06690802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.23 31.10.22
£    £   
Within one year - 4,196
Between one and five years - 8,043
- 12,239

11. RELATED PARTY DISCLOSURES

During the year under review the company has paid rent of £11,094 (2015: £11,094) to Mr Kulwant Singh and Mrs Paramjit Kaur, directors and shareholders of the company for use of freehold property by the company.
Amount due from related party at balance sheet date

12. ULTIMATE CONTROLLING PARTY

The controlling party is Kulwant Singh & Paramjit Kaur.