Registration number:
Paperframe Limited
for the Year Ended 30 June 2024
Paperframe Limited
Contents
Company Information |
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Director's Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Paperframe Limited
Company Information
Director |
C J Hayes |
Registered office |
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Accountants |
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Paperframe Limited
Director's Report for the Year Ended 30 June 2024
The director presents her report on the affairs of Paperframe Limited, together with the unaudited financial statements for the year ended 30 June 2024.
Principal activity
The principal activity of the company is that of a holding company.
Directors of the company
The directors who held office during the year and up to the date of approval of this report were as follows:
Going concern
The director has considered financial projections for the company over the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Small companies provision statement
The director has taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the director's report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
The director's report approved by the
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Paperframe Limited
(Registration number: 07848721)
Statement of Financial Position as at 30 June 2024
Note |
2024 |
2023 |
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Non-current assets |
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Investments |
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Payables: Amounts falling due within one year |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Total equity |
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For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in
accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.
The financial statements of Paperframe Limited were approved and authorised for issue by the
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Director
Paperframe Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024
General information |
Paperframe Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The director has considered financial projections for the company over the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continues to adopt the going concern basis in preparing the financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Exemption from preparing group accounts
Judgements and key sources of estimation uncertainty
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
Investments
Investments in subsidiaries are accounted for at cost less impairments.
Paperframe Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
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Accounting policies (continued) |
Receivables
Receivables are recognised initially at the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of debtors is established when there is objective evidence that the company will not be
able to collect all amounts due according to the original terms of the receivable.
Payables
Other loans are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Staff numbers |
The company had no employees during the current and the preceding period.
Paperframe Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
Investments in subsidiary |
Subsidiaries |
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Cost |
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At 1 July 2023 and at 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Country of |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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England and Wales |
Ordinary shares |
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Subsidiary undertakings |
Textcore Limited The principal activity of Textcore Limited is |
Paperframe Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
Payables |
2024 |
2023 |
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Due within one year |
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Amounts due to related parties |
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Other loans |
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The amount owed to subsidiary undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.
Share capital and reserves |
Allotted, called up and fully paid shares
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2023 |
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No. |
£ |
No. |
£ |
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4 |
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4 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Related party transactions |
At 30 June 2024, the shareholders were owed a total of £530,796 (2023 : £562,796) by the company. The loans are unsecured, interest free and have no fixed repayment schedule.
The company is a parent undertaking of a wholly owned subsidiary and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities the not to disclose transactions with entities that are wholly owned members of the group.
Events after the financial period |
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