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REGISTERED NUMBER: 04278459 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Paps Enterprises Limited

Paps Enterprises Limited (Registered number: 04278459)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Paps Enterprises Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs P Papapavlou
Mr M Papapavlou





REGISTERED OFFICE: 56 Old Park Road South
Enfield
Middlesex
EN2 7DB





REGISTERED NUMBER: 04278459 (England and Wales)





ACCOUNTANTS: CAS MCGEE LTD
Chartered Certified Accountants
130A Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF

Paps Enterprises Limited (Registered number: 04278459)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
CURRENT ASSETS
Investments 5 62,140 62,140
Cash at bank and in hand 34,597 34,597
96,737 96,737
CREDITORS
Amounts falling due within one year 6 5,465 5,371
NET CURRENT ASSETS 91,272 91,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,272

91,366

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 91,172 91,266
SHAREHOLDERS' FUNDS 91,272 91,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 19 June 2025 and were signed on its behalf by:





Mr M Papapavlou - Director


Paps Enterprises Limited (Registered number: 04278459)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Paps Enterprises 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.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Presentation currency
The accounts are presented in GBP £ sterling.

3. EMPLOYEES AND DIRECTORS

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

Paps Enterprises Limited (Registered number: 04278459)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 7,649
DEPRECIATION
At 1 October 2023
and 30 September 2024 7,649
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Unlisted investments 62,140 62,140

Unlisted Investments relates to Ordinary shares in "Power Snooker Group Ltd". These shares are valued by the directors at cost at the date of acquisition.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Directors' current accounts 5,133 5,133
Accrued expenses 332 238
5,465 5,371

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary shares £1.00 100 100

8. RESERVES
Retained
earnings
£   

At 1 October 2023 91,266
Deficit for the year (94 )
At 30 September 2024 91,172

Paps Enterprises Limited (Registered number: 04278459)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. EVENTS AFTER THE REPORTING PERIOD

There were no essential either adjusting events or non-adjusting events in the period of time elapsing between the balance sheet date and the date on which these financial statements are prepared. The impact of COVID-19 is described in the Going Concern Consideration Note.

The ongoing Russia-Ukraine conflict has resulted in going concern becoming a significant risk. The United States and Europe have avoided direct military conflict with Russia amid its conflict with Ukraine. They have however used a set of financial sanctions to limit Russia's access to financial resources. The impact of the sanctions may result in difficulties for the company to operate. Neither Paps Enterprises Limited nor the owners are currently on the sanctions list at the time of this report, however this may change as the situation changes.

The ongoing Israel-Gaza conflict has resulted in no major impact to cause significant operational risks and that the company continues to assess the nature and extent of any risks and uncertainties arising from these events.

10. GOING CONCERN CONSIDERATION

The Company's management does not see a severe impact of COVID-19 outbreak to its activity. The Company tested the financial impact on the following areas of financial statements that can be affected:
- Breach of trade contracts
- Revenue
- Cost of sales
- Expenditure
- Inventories fair value measurements
- Debt repayment

11. IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset. the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing. Value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Paps Enterprises Limited (Registered number: 04278459)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. CLIMATE CHANGES AND ENVIRONMENTAL RISKS AND RESPONSIBILITIES

Due to the nature of the entity's operational activities there's no exposure to significant environmental risks.

Despite the fact that our organisation offers accounting, business management and IT services, we are always considering the environmental sustainability. Future business performance will be impacted by our ability to effectively manage the transition to a low carbon economy balancing commercial decisions with the environmental responsibility, agreeing business-wide decarbonisation priorities, and managing changes in customer preferences.

This includes management of the increasing costs associated with sustainable materials, recycling carbon pricing and further technological, policy and regulatory interventions.
We are operating in a world and a sector with high pressure from carbon-conscious customers, government bodies and regulators to operate in a more environmentally conscious manner. To respond to the circular economy, waste reduction and low carbon products and use of a recycled parts and related components.