REGISTERED NUMBER: SC256588 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Papyrus (Glasgow) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F.L.L. Fabien

L Fabien

Miss S Fabien

SECRETARY:

Mrs F.L.L. Fabien

REGISTERED OFFICE:

374 Byres Road

Glasgow

G12 8AR

REGISTERED NUMBER:

SC256588 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

31,710

12,326

31,710

12,326

CURRENT ASSETS

Stocks

154,822

131,533

Debtors

6

515,992

255,967

Cash at bank and in hand

243,618

350,731

914,432

738,231

CREDITORS

Amounts falling due within one year

7

(211,299

)

(146,122

)

NET CURRENT ASSETS

703,133

592,109

TOTAL ASSETS LESS CURRENT LIABILITIES

734,843

604,435

PROVISIONS FOR LIABILITIES

(5,510

)

(2,751

)

NET ASSETS

729,333

601,684

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

729,233

601,584

SHAREHOLDERS' FUNDS

729,333

601,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 21 May 2026 and were signed on its behalf by:

L Fabien - Director

Miss S Fabien - Director

1.	STATUTORY INFORMATION

Papyrus (Glasgow) Ltd is a private company, limited by shares , registered in Scotland. 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2003 and 2007, is being amortised evenly over its estimated useful life of twenty 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 the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

over the term of the lease

Plant and machinery etc

-

25% on cost, 20% on cost and 15% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value

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 AND DIRECTORS

The average number of employees during the year was 18 (2025 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

655,000

AMORTISATION

At 1 February 2025

and 31 January 2026

655,000

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2025

177,326

59,945

237,271

Additions

8,588

18,826

27,414

At 31 January 2026

185,914

78,771

264,685

DEPRECIATION

At 1 February 2025

177,325

47,620

224,945

Charge for year

-

8,030

8,030

At 31 January 2026

177,325

55,650

232,975

NET BOOK VALUE

At 31 January 2026

8,589

23,121

31,710

At 31 January 2025

1

12,325

12,326

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Other debtors

515,992

255,967

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade creditors

55,118

43,074

Taxation and social security

134,833

93,303

Other creditors

21,348

9,745

211,299

146,122