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REGISTERED NUMBER: 06692279 (England)















Financial Statements

for the Year Ended 31 December 2024

for

Papirfly Limited

Papirfly Limited (Registered number: 06692279)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Papirfly Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: N Tandberg
S T Howe
S Ropers



REGISTERED OFFICE: 36-38 Cornhill
London
EC3V 3NG



REGISTERED NUMBER: 06692279 (England)



SENIOR STATUTORY AUDITOR: Caroline Peverett BA FCA



AUDITORS: Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG

Papirfly Limited (Registered number: 06692279)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 24,617 23,605
Investments 6 1,143,264 -
1,167,881 23,605

CURRENT ASSETS
Debtors 7 3,201,503 3,903,288
Cash at bank 210,661 351,304
3,412,164 4,254,592
CREDITORS
Amounts falling due within one year 8 2,868,571 3,078,501
NET CURRENT ASSETS 543,593 1,176,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,711,474

1,199,696

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,711,374 1,199,596
SHAREHOLDERS' FUNDS 1,711,474 1,199,696

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 4 August 2025 and were signed on its behalf by:





N Tandberg - Director


Papirfly Limited (Registered number: 06692279)

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


1. STATUTORY INFORMATION

Papirfly Limited is a private company, limited by shares , registered in England. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A (FRS 102 s1A) as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3. ACCOUNTING POLICIES

Compliance with applicable reporting framework
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Papirfly Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition policy
The company sells software licences. Turnover represents amounts receivable for software licence fees and services. In respect of licence fees, turnover is calculated as that proportion of total licence fees which relate to the period. The calculations are based on whole months, commencing in the month when income first accrues. Amounts received or receivable for licence fees in advance have been deferred and will be included in turnover in the next period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Reducing balance
(%

)
Straight line
(years

)
Land and buildings-6
Plant and machinery25-
Fixtures and fittings25-
Office Equipment33-

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.


Papirfly Limited (Registered number: 06692279)

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


3. ACCOUNTING POLICIES - continued
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.

Foreign currency translation and operations policy
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases policy
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits policy
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 37 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 62,742
Additions 12,437
Disposals (10,391 )
At 31 December 2024 64,788
DEPRECIATION
At 1 January 2024 39,137
Charge for year 7,825
Eliminated on disposal (6,791 )
At 31 December 2024 40,171
NET BOOK VALUE
At 31 December 2024 24,617
At 31 December 2023 23,605

Papirfly Limited (Registered number: 06692279)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1,143,264
At 31 December 2024 1,143,264
NET BOOK VALUE
At 31 December 2024 1,143,264

7. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 1,005,746 1,400,493
Amounts owed by group undertakings 133,989 275,591
Other debtors 232,219 65,759
1,371,954 1,741,843

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,791,749 2,161,445
Other debtors 37,800 -
1,829,549 2,161,445

Aggregate amounts 3,201,503 3,903,288

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 174 -
Trade creditors 124,439 97,240
Amounts owed to group undertakings 66,015 57,762
Taxation and social security 143,419 228,288
Other creditors 2,534,524 2,695,211
2,868,571 3,078,501

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 189,000 109,440
Between one and five years 15,750 -
204,750 109,440

Papirfly Limited (Registered number: 06692279)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
90 Ordinary £1 90 90
10 Ordinary B £1 10 10
100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Caroline Peverett BA FCA (Senior Statutory Auditor)
for and on behalf of Tuerner Audit Limited

12. ULTIMATE CONTROLLING PARTY

The parent company of the smallest group into which the accounts of Papirfly Limited are consolidated is Origami BidCo AS. Their registered office address from which publicly available accounts can be obtained is:

Papirfly AS
Universitetsgata 2
NO-0164 Oslo
Norway

The ultimate parent company is Origami TopCo AS, a company incorporated in Norway.