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PAPS DEVELOPMENTS LTD.

Registered Number
06401273
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

PAPS DEVELOPMENTS LTD.
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

PAPANICOLAOU, Michael Efthimios

Company Secretary

PAPANICOLAOU, Nicola Ann

Registered Address

Carisbrooke
Thornley Drive
Teignmouth
TQ14 9JH

Registered Number

06401273 (England and Wales)
PAPS DEVELOPMENTS LTD.
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3404,140316,452
404,140316,452
Current assets
Debtors18,02415,463
Cash at bank and on hand7,75223,541
25,77639,004
Creditors amounts falling due within one year4(72,874)(2,689)
Net current assets (liabilities)(47,098)36,315
Total assets less current liabilities357,042352,767
Creditors amounts falling due after one year5(18,059)(28,144)
Provisions for liabilities6(156)(406)
Net assets338,827324,217
Capital and reserves
Called up share capital100100
Profit and loss account338,727324,117
Shareholders' funds338,827324,217
The financial statements were approved and authorised for issue by the Director on 12 May 2025, and are signed on its behalf by:
PAPANICOLAOU, Michael Efthimios
Director
Registered Company No. 06401273
PAPS DEVELOPMENTS LTD.
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Vehicles25
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 23314,31712,000-326,317
Additions89,000-93289,932
Disposals-(12,000)-(12,000)
At 30 November 24403,317-932404,249
Depreciation and impairment
At 01 December 23-9,865-9,865
Charge for year--109109
On disposals-(9,865)-(9,865)
At 30 November 24--109109
Net book value
At 30 November 24403,317-823404,140
At 30 November 23314,3172,135-316,452
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables61-
Other creditors71,9881,903
Accrued liabilities and deferred income825786
Total72,8742,689
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts18,05928,144
Total18,05928,144
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)156406
Total156406