Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01No description of principal activity21falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14427209 2023-07-01 2024-06-30 14427209 2022-10-18 2023-06-30 14427209 2024-06-30 14427209 2023-06-30 14427209 c:Director2 2023-07-01 2024-06-30 14427209 d:PlantMachinery 2023-07-01 2024-06-30 14427209 d:PlantMachinery 2024-06-30 14427209 d:PlantMachinery 2023-06-30 14427209 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14427209 d:CurrentFinancialInstruments 2024-06-30 14427209 d:CurrentFinancialInstruments 2023-06-30 14427209 d:Non-currentFinancialInstruments 2024-06-30 14427209 d:Non-currentFinancialInstruments 2023-06-30 14427209 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14427209 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14427209 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 14427209 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 14427209 d:ShareCapital 2024-06-30 14427209 d:ShareCapital 2023-06-30 14427209 d:RetainedEarningsAccumulatedLosses 2024-06-30 14427209 d:RetainedEarningsAccumulatedLosses 2023-06-30 14427209 c:OrdinaryShareClass1 2023-07-01 2024-06-30 14427209 c:OrdinaryShareClass1 2024-06-30 14427209 c:OrdinaryShareClass1 2023-06-30 14427209 c:FRS102 2023-07-01 2024-06-30 14427209 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14427209 c:FullAccounts 2023-07-01 2024-06-30 14427209 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14427209 2 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14427209










PAPILIO3 LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
PAPILIO3 LTD
REGISTERED NUMBER: 14427209

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,110,000
300,000

Current assets
  

Debtors: amounts falling due within one year
 5 
12,678
63,930

Cash at bank and in hand
 6 
354,033
12,060

  
366,711
75,990

Creditors: amounts falling due within one year
 7 
(1,236,342)
(373,560)

Net current liabilities
  
 
 
(869,631)
 
 
(297,570)

Total assets less current liabilities
  
240,369
2,430

Creditors: amounts falling due after more than one year
  
(385,875)
-

  

Net (liabilities)/assets
  
(145,506)
2,430


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(145,507)
2,429

  
(145,506)
2,430


Page 1

 
PAPILIO3 LTD
REGISTERED NUMBER: 14427209
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their 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 income and retained earnings 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 Aitken
Director

Date: 11 February 2025

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

Page 2

 
PAPILIO3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Papilio3 Limited is a private company limited by shares, domiciled and registered in the United Kingdom, registered number 14427209.
The registered office is Century House, The Lakes, Northampton, NN4 7HD.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
PAPILIO3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 1).

Page 4

 
PAPILIO3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 July 2023
300,000


Additions
900,000



At 30 June 2024

1,200,000



Depreciation


Charge for the period on owned assets
90,000



At 30 June 2024

90,000



Net book value



At 30 June 2024
1,110,000


5.


Debtors

2024
2023
£
£


Trade debtors
12,678
4,850

Other debtors
-
59,080

12,678
63,930



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
354,033
12,060


Page 5

 
PAPILIO3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
285
2,880

Amounts owed to group undertakings
905,200
360,000

Other taxation and social security
1,271
-

Obligations under finance lease and hire purchase contracts
161,700
-

Other creditors
86,936
9,480

Accruals and deferred income
80,950
1,200

1,236,342
373,560



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
385,875
-



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



10.


Controlling party

The ultimate controlling party of the Company is 3ti Energy Hubs Ltd.

 
Page 6