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Registered number: 08640415
Papaya Trading Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Crag & Co
Chartered Accountants & Chartered Tax Advisers
First Floor, Embsay Mill
Embsay
Skipton
North Yorkshire
BD23 6QR
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08640415
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,496 16,549
30,496 16,549
CURRENT ASSETS
Stocks 324,215 428,033
Debtors 5 303,848 178,069
Cash at bank and in hand 122,501 9,862
750,564 615,964
Creditors: Amounts Falling Due Within One Year 6 (455,128 ) (247,710 )
NET CURRENT ASSETS (LIABILITIES) 295,436 368,254
TOTAL ASSETS LESS CURRENT LIABILITIES 325,932 384,803
Creditors: Amounts Falling Due After More Than One Year 7 (75,567 ) (96,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,336 ) -
NET ASSETS 248,029 288,803
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 247,929 288,703
SHAREHOLDERS' FUNDS 248,029 288,803
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For the year ending 30 April 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr G Crombie
Director
15/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Papaya Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08640415 . The registered office is Belle Vue Barn, Mansergh, Carnforth, Lancashire, LA6 2EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Turnover
Turnover is measured at the fair value of the consideration receivable for goods supplied, net of Value Added Tax.
Turnover from the sale of goods is recognised on dispatch of goods sold.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
2.4. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions 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.
Debt instruments are subsequently measured at amortised cost.

2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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2.8. Impairment
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.
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.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 23,895 27,030 12,563 63,488
Additions - 22,970 - 22,970
As at 30 April 2024 23,895 50,000 12,563 86,458
Depreciation
As at 1 May 2023 12,313 22,520 12,106 46,939
Provided during the period 1,737 6,870 416 9,023
As at 30 April 2024 14,050 29,390 12,522 55,962
Net Book Value
As at 30 April 2024 9,845 20,610 41 30,496
As at 1 May 2023 11,582 4,510 457 16,549
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 300,364 174,578
Prepayments and accrued income 3,484 -
VAT - 3,491
303,848 178,069
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 174,642 100,487
Bank loans and overdrafts 43,783 38,917
Corporation tax 29,335 37,171
VAT 8,473 -
Other creditors 30,667 12,383
Accruals and deferred income 1,800 1,800
Directors' loan accounts 166,428 56,952
455,128 247,710
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 75,567 96,000
8. Related Party Transactions
Included in creditors: amounts falling due within one year, is a directors loan account balance of £166,428 (2023 - £56,952).
The balance is interest free and repayable on demand.
9. Ultimate Controlling Party
The company is a wholly owned subsidiary undertaking of Crombie (Holdings) Ltd.

The registered office of Crombie (Holdings) Ltd is Belle Vue Barn, Mansergh, Carnforth, Lancashire, LA6 2EJ.

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