REGISTERED NUMBER: 07764157 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

FOR

FABRICS AND PAPERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Knight

Mrs E Knight

REGISTERED OFFICE:

Number Three

Catsland Farm Bramlands Lane

Woodmancote

Henfield

West Sussex

BN5 9TG

REGISTERED NUMBER:

07764157 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

52,000

58,500

Tangible assets

5

20,513

19,599

72,513

78,099

CURRENT ASSETS

Stocks

6

32,158

33,193

Debtors

7

47,101

34,662

Cash at bank

108,389

37,958

187,648

105,813

CREDITORS

Amounts falling due within one year

8

(259,674

)

(235,845

)

NET CURRENT LIABILITIES

(72,026

)

(130,032

)

TOTAL ASSETS LESS CURRENT LIABILITIES

487

(51,933

)

CREDITORS

Amounts falling due after more than one year

9

(1,452

)

(5,786

)

PROVISIONS FOR LIABILITIES

(4,556

)

(4,900

)

NET LIABILITIES

(5,521

)

(62,619

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,621

)

(62,719

)

SHAREHOLDERS' FUNDS

(5,521

)

(62,619

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 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 3 December 2025 and were signed on its behalf by:

Mrs E Knight - Director

M A Knight - Director

1.	STATUTORY INFORMATION

Fabrics And Papers 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Office equipment

-

33% on cost

Fixtures and fittings

-

33% on cost

Website

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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.

3.

EMPLOYEES

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 March 2024

and 30 March 2025

130,000

AMORTISATION

At 31 March 2024

71,500

Amortisation for year

6,500

At 30 March 2025

78,000

NET BOOK VALUE

At 30 March 2025

52,000

At 30 March 2024

58,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

equipment

fittings

Website

Totals

£

£

£

£

COST

At 31 March 2024

17,275

15,108

140,734

173,117

Additions

282

12,935

-

13,217

At 30 March 2025

17,557

28,043

140,734

186,334

DEPRECIATION

At 31 March 2024

15,245

15,108

123,165

153,518

Charge for year

1,396

1,180

9,727

12,303

At 30 March 2025

16,641

16,288

132,892

165,821

NET BOOK VALUE

At 30 March 2025

916

11,755

7,842

20,513

At 30 March 2024

2,030

-

17,569

19,599

6.

STOCKS

2025

2024

£

£

Stocks

32,158

33,193

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

40,573

9,870

VAT

-

18,378

Prepayments

6,528

6,414

47,101

34,662

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,229

5,229

Trade creditors

64,392

88,866

Tax

15,771

-

Social security and other taxes

71

3,780

VAT

12,452

-

Directors' loan accounts

108,775

122,870

Deferred income

50,585

13,403

Accrued expenses

2,399

1,697

259,674

235,845

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

776

5,229

Bank loans - 2-5 years

-

557

Other creditors

676

-

1,452

5,786

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mrs E Vans Agnew decreased her loan to the company. As at 30 March 2025, the company owed her £108,774 (2024: £122,869). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs E Knight.

This was by virtue of her 100% holding of the issued share capital.