Registration number: 14690152

Paper Workshop Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Paper Workshop Ltd

Company Information

Directors

T Frith-Powell C A Kennedy

Registered office

Ellergreen Estate Office Hollins Lane Burneside Kendal Cumbria LA9 5SD

Paper Workshop Ltd

(Registration number: 14690152)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	132,701	156,543
Current assets
Stocks		22,359	19,500
Debtors	5	11,682	8,259
Cash at bank and in hand		451	695
		34,492	28,454
Creditors: Amounts falling due within one year	6	(266,100)	(205,721)
Net current liabilities		(231,608)	(177,267)
Net liabilities		(98,907)	(20,724)
Capital and reserves
Called up share capital		1	1
Retained earnings		(98,908)	(20,725)
Shareholders' deficit		(98,907)	(20,724)

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2026 and signed on its behalf by:
 

......................................... T Frith-Powell Director

Paper Workshop Ltd

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ellergreen Estate Office
Hollins Lane
Burneside
Kendal
Cumbria
LA9 5SD

These financial statements were authorised for issue by the Board on 9 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The financial performance for the year was adversely affected by significant expenditure incurred in developing new products, with product development costs of £41,490 compared with £4,209 in the previous year.

During 2025, the company experienced a significant water contamination issue which adversely affected its ability to manufacture paper for approximately five months. During the year, the company secured funding towards the installation of a borehole, which is expected to provide a more secure and reliable water supply and significantly reduce the risk of similar water contamination issues affecting production in the future.

The directors are also encouraged by the company's financial performance and forecasts for the year ending 31 December 2026, which indicate that the Paper Workshop is expected to return to profitability. The directors are satisfied that the underlying trading position of the company is improving and that the company has appropriate plans in place to continue trading.

On this basis, the directors consider that the company will have adequate resources to continue in operational existence for the foreseeable future and therefore consider it appropriate to prepare the financial statements on a going concern basis.

Paper Workshop Ltd

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Leasehold improvements	Over the length of the lease
Heritage assets	Not depreciated
Plant and machinery	20% straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Paper Workshop Ltd

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2025	136,735	61,727	198,462
Additions	9,011	-	9,011
At 31 December 2025	145,746	61,727	207,473
Depreciation
At 1 January 2025	22,789	19,132	41,921
Charge for the year	24,592	8,259	32,851
At 31 December 2025	47,381	27,391	74,772
Carrying amount
At 31 December 2025	98,365	34,336	132,701
At 31 December 2024	113,946	42,597	156,543

Included within the net book value of land and buildings above is £98,365 (2024 - £113,946) in respect of short leasehold land and buildings.
 

5

Debtors

Current	2025 £	2024 £
Trade debtors	3,533	6,143
Prepayments	7,432	119
Other debtors	717	1,997
	11,682	8,259

Paper Workshop Ltd

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

6

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Due within one year
Trade creditors		43,912	21,774
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	181,825	177,963
Accruals and deferred income		16,690	2,984
Other creditors		23,673	3,000
		266,100	205,721

7	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	37,185	38,370
Contributions paid to money purchase schemes	976	955
	38,161	39,325

Summary of transactions with parent

Paper Workshop Ltd is the wholly owned trading subsidiary of Paper Foundation. The Paper Workshop Ltd took over the trading activities of Paper Foundation on 1 January 2024 and as part of that process Paper Foundation transferred fixed assets at net book value of £152,991 (including heritage assets of £19,408) to the subsidiary, as well as the closing stock of £10,531.
Paper Foundation runs the payroll for the group and recharged £67,746 (2024 - £73,045) to Paper Workshop Ltd in the year. At the balance sheet date the amount due from Paper Workshop Ltd was £181,825 (2024 - £177,963).

Summary of transactions with other related parties

Directors of parent company Services supplied
Mark Cropper is a director of Paper Foundation and a member of Ellergreen Group LLP who supplied office and bookkeeping services to Paper Workshop Ltd in the sum of £21,508 in the year. £25,980 was outstanding at 31 December 2025 and is shown in Trade creditors.

Paper Workshop Ltd

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

8	Parent and ultimate parent undertaking

The company is a trading subsidiary 100% owned by Paper Foundation (registered company 10343204, registered charity 1172250.

 The company's immediate parent is Paper Foundation, incorporated in England.