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REGISTERED NUMBER: 11400094 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PAPILLON PROPERTIES LIMITED

PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAPILLON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr S J Edelston
Mrs S R Edelston





REGISTERED OFFICE: 3 Steyning Road
Shoreham-By-Sea
West Sussex
BN43 5NG





REGISTERED NUMBER: 11400094 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,051 2,790

CURRENT ASSETS
Debtors 5 29,424 40,103
Cash at bank 11,573 9,694
40,997 49,797
CREDITORS
Amounts falling due within one year 6 32,548 31,765
NET CURRENT ASSETS 8,449 18,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,500

20,822

CREDITORS
Amounts falling due after more than one
year

7

31,604

36,136
NET LIABILITIES (21,104 ) (15,314 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (21,105 ) (15,315 )
SHAREHOLDERS' FUNDS (21,104 ) (15,314 )

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

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

PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mr S J Edelston - Director


PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Papillon Properties 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.

GOING CONCERN
The company's balance sheet shows a net deficit shareholders fund position. However, the director's have received confirmation from the shareholders of their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 June 2023 5,147
Additions 100
At 31 May 2024 5,247
Depreciation
At 1 June 2023 2,357
Charge for year 839
At 31 May 2024 3,196
Net book value
At 31 May 2024 2,051
At 31 May 2023 2,790

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,359 815
Other debtors 28,065 39,288
29,424 40,103

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,701 6,210
Trade creditors 2,500 50
Taxation and social security - 112
Other creditors 23,347 25,393
32,548 31,765

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 31,604 36,136

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,800 11,297

PAPILLON PROPERTIES LIMITED (REGISTERED NUMBER: 11400094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary share £1 1 1