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REGISTERED NUMBER: 13356264 (England and Wales)















POPALI LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






POPALI LTD (REGISTERED NUMBER: 13356264)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


POPALI LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs R A Moelwyn-Williams
Mr D J Moelwyn-Williams





REGISTERED OFFICE: Highbanks
Annscroft
Shrewsbury
SY5 8AN





REGISTERED NUMBER: 13356264 (England and Wales)






POPALI LTD (REGISTERED NUMBER: 13356264)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,399 35,399
Tangible assets 5 349,068 374,687
384,467 410,086

CURRENT ASSETS
Debtors 6 33,506 31,572
Cash at bank 10,585 8,702
44,091 40,274
CREDITORS
Amounts falling due within one year 7 171,425 125,343
NET CURRENT LIABILITIES (127,334 ) (85,069 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,133

325,017

CREDITORS
Amounts falling due after more than one
year

8

437,084

448,866
NET LIABILITIES (179,951 ) (123,849 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (180,051 ) (123,949 )
(179,951 ) (123,849 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

POPALI LTD (REGISTERED NUMBER: 13356264)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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 30 January 2025 and were signed on its behalf by:





Mr D J Moelwyn-Williams - Director


POPALI LTD (REGISTERED NUMBER: 13356264)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Popali 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.

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

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 rates in order to write off each asset over its estimated useful economic life:

Plant and machinery 10% straight line
Leasehold improvements 5% straight line

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

POPALI LTD (REGISTERED NUMBER: 13356264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's balance sheet when the company becomes party to a contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statement, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to release the asset and settle the liability simultaneously.

Going concern
The accounts have been prepared on a going concern basis.
The directors regularly assess the financial position of the company and are confident it can continue to trade. The directors will not look to repay their loan to the company until the company has the funds to do so.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS

The company has paid an upfront franchise fee for continued support. This has not been amortised to date.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 423,003
Additions 688
At 30 April 2024 423,691
DEPRECIATION
At 1 May 2023 48,316
Charge for year 26,307
At 30 April 2024 74,623
NET BOOK VALUE
At 30 April 2024 349,068
At 30 April 2023 374,687

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,506 31,572

POPALI LTD (REGISTERED NUMBER: 13356264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 83,000 83,000
Payroll taxes 2,830 4,051
Other creditors 85,595 38,292
171,425 125,343

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 228,250 304,333
Other creditors 208,834 144,533
437,084 448,866

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 311,250 387,333

The bank loan is secured by a fixed and floating charge over the company's assets.

10. OTHER FINANCIAL COMMITMENTS

As of 30th April 2024, the company has an annual rent commitment of £25,000 (2023: £17,500) for the remainder of the term of the lease.