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REGISTERED NUMBER: 05307297 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

PAPAS (UK) LIMITED

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAPAS (UK) LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Papa-Adams
Mrs C Papa-Adams



SECRETARY: A Papa-Adams



REGISTERED OFFICE: 573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



REGISTERED NUMBER: 05307297 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: Cynergy Bank
PO Box 17484
87 Chase Side
London
N14 5WH

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 330,000 360,000
Tangible assets 5 9,463 11,497
339,463 371,497

CURRENT ASSETS
Stocks 2,862 3,174
Debtors 6 465,988 415,040
Cash at bank 262,545 271,633
731,395 689,847
CREDITORS
Amounts falling due within one year 7 161,020 167,679
NET CURRENT ASSETS 570,375 522,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,838

893,665

CREDITORS
Amounts falling due after more than one
year

8

201,477

210,583
NET ASSETS 708,361 683,082

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 707,361 682,082
SHAREHOLDERS' FUNDS 708,361 683,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Statement of Financial Position - continued
31 March 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 3 December 2024 and were signed on its behalf by:





A Papa-Adams - Director


PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Papas (UK) Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty 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.
Fixtures and fittings - 20% on reducing balance

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 600,000
AMORTISATION
At 1 April 2023 240,000
Amortisation for year 30,000
At 31 March 2024 270,000
NET BOOK VALUE
At 31 March 2024 330,000
At 31 March 2023 360,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 95,647
Additions 332
At 31 March 2024 95,979
DEPRECIATION
At 1 April 2023 84,150
Charge for year 2,366
At 31 March 2024 86,516
NET BOOK VALUE
At 31 March 2024 9,463
At 31 March 2023 11,497

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 465,988 415,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,953 12,801
Trade creditors 57,165 75,728
Taxation and social security 68,814 68,324
Other creditors 24,088 10,826
161,020 167,679

PAPAS (UK) LIMITED (REGISTERED NUMBER: 05307297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 201,477 210,583

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 157,665 159,380

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 212,430 223,384

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A and Mrs C Papa Adams.