Papi Transport UK Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 1875066

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		88,792		95,058

			88,792		95,058
CURRENT ASSETS
Debtors	5	124,421		156,539
Cash at bank and in hand		150,669		185,969

		275,090		342,508
Creditors: Amounts Falling Due Within One Year	6	(150,635 )		(215,442 )

NET CURRENT ASSETS (LIABILITIES)			124,455		127,066

TOTAL ASSETS LESS CURRENT LIABILITIES			213,247		222,124

NET ASSETS			213,247		222,124

CAPITAL AND RESERVES
Called up share capital	7		25,000		25,000
Profit and Loss Account			188,247		197,124

SHAREHOLDERS' FUNDS			213,247		222,124

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 19 September 2025 and were signed on its behalf by:

Mr Vicente J Papi

Director

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Papi Transport UK Ltd Registered number 1875066 is a limited by shares company incorporated in England & Wales. The Registered Office is 69 Southend Road, Hockley, Essex, SS5 4PZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Freehold property is not depreciated. A charge for depreciation would be insignificant in light of the anticipated useful life of the property. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	50% straight line

2.4. Investment Properties

The status of the company property changed to a rental property during 2017.

Under FRS102 an investment property should be revalued each year with the surplus/ deficit taken into

the P and L account.

There is an exception to the rule if the process of revaluing this property each year requires undue cost and effort, then cost can be used. The opinion of the directors is to continue to use cost.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the Profit and Loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for Taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes.

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Papi Transport UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	3	3
Sales, marketing and distribution	3	3

	6	6

4. Tangible Assets

	Investment Properties	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2024	68,505	22,150	9,825	41,953	142,433

As at 31 December 2024	68,505	22,150	9,825	41,953	142,433

Depreciation
As at 1 January 2024	-	5,544	3,945	37,886	47,375
Provided during the period	-	5,544	722	-	6,266

As at 31 December 2024	-	11,088	4,667	37,886	53,641

Net Book Value
As at 31 December 2024	68,505	11,062	5,158	4,067	88,792

As at 1 January 2024	68,505	16,606	5,880	4,067	95,058

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	107,402	138,411
Prepayments and accrued income	6,684	7,433
VAT	10,335	9,053
Directors' loan accounts	-	1,642

	124,421	156,539

Prepayments is detailed separately for 2021, previously it was included in Other Debtors

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	78,284	86,226
Corporation tax	-	3,994
Other creditors	5,680	1,721
Accruals and deferred income	3,968	39,845
Amounts owed to group undertakings	62,703	83,656

	150,635	215,442

The figure reported in Amounts owed to group undertakings includes £50,000 which is an interest free loan made by Papi Transport UK Ltd to Papi Transitos SL.

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Papi Transport UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	25,000	25,000

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Ms Rodica Avadanii	1,642	-	1,642	-	-

The above loan is unsecured, interest free and repayable on demand.

9. Related Party Transactions

Papi Transitos S/L

Ultimate controlling party

A material amount of intercompany transactions were made comprising of Freight Sales of £208,203.78 and Freight Purchases of £714,311.22 to and from Papi Transitos S/L

10. Controlling Party

The ultimate controlling party is Papi Transitos SL, By virtue of ownership of 99.99% of the issued share capital in the company.

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