REGISTERED NUMBER: 04137617 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2024

for

Papa Architects Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

C Papaloizou

A Paps

D Yiannakas

SECRETARY:

C Papaloizou

REGISTERED OFFICE:

Woodgate Studios

2nd Floor

2-8 Games road

Barnet

EN4 9HN

REGISTERED NUMBER:

04137617 (England and Wales)

ACCOUNTANTS:

Tasos Papaloizou Chartered Accountants

Suite 1

The Golf Club

Darkes Lane

Potters Bar

EN6 1DE

FIXED ASSETS

Intangible assets

4

26,665

29,332

Tangible assets

5

510,982

224,769

537,647

254,101

CURRENT ASSETS

Debtors

6

316,796

499,470

Cash at bank and in hand

363,967

223,787

680,763

723,257

CREDITORS

Amounts falling due within one year

7

358,221

152,633

NET CURRENT ASSETS

322,542

570,624

TOTAL ASSETS LESS CURRENT LIABILITIES

860,189

824,725

CREDITORS

Amounts falling due after more than one year

8

(86,667

)

(210,977

)

PROVISIONS FOR LIABILITIES

11

(39,944

)

-

NET ASSETS

733,578

613,748

CAPITAL AND RESERVES

Called up share capital

12

100

100

Share premium

13

37,536

37,536

Fair value reserve

13

240,057

-

Retained earnings

13

455,885

576,112

SHAREHOLDERS' FUNDS

733,578

613,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2025 and were signed on its behalf by:

A Paps - Director

C Papaloizou - Director

1.	STATUTORY INFORMATION

Papa Architects 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.

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 as modified by the revaluation of certain assets.

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 a business in 2000, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets

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

Fixtures and fittings 25% reducing balance basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 6 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2023

and 30 November 2024

40,000

AMORTISATION

At 1 December 2023

10,668

Charge for year

2,667

At 30 November 2024

13,335

NET BOOK VALUE

At 30 November 2024

26,665

At 30 November 2023

29,332

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 December 2023

297,367

134,451

431,818

Additions

6,300

732

7,032

Revaluations

280,000

-

280,000

At 30 November 2024

583,667

135,183

718,850

DEPRECIATION

At 1 December 2023

75,061

131,988

207,049

Charge for year

20

799

819

At 30 November 2024

75,081

132,787

207,868

NET BOOK VALUE

At 30 November 2024

508,586

2,396

510,982

At 30 November 2023

222,306

2,463

224,769

Cost or valuation at 30 November 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2024

280,000

-

280,000

Cost

303,667

135,183

438,850

583,667

135,183

718,850

The Freehold land and building were valued on an open market basis on 30 November 2024 by the Directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade debtors

259,736

442,562

Other debtors

57,060

56,908

316,796

499,470

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans and overdrafts (see note 9)

175,500

-

Taxation and social security

73,327

120,299

Other creditors

109,394

32,334

358,221

152,633

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans (see note 9)

86,667

210,977

9.

LOANS

An analysis of the maturity of loans is given below:

30.11.24

30.11.23

£

£

Amounts falling due within one year or on demand:

Bank loans

175,500

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

86,667

210,977

Included in Other Creditors is £101,932 ( 2023-£25,430) owed to the director C Papaloizou.

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.24

30.11.23

£

£

Bank loans

262,167

210,977

The Bank loans are secured by way of a Fixed and Floating charge over the company's s assets.

11.	PROVISIONS FOR LIABILITIES

30.11.24

30.11.23

£

£

Deferred tax

39,944

-

Deferred

tax

£

Provided during year

39,944

Balance at 30 November 2024

39,944

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.24

30.11.23

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

£

£

£

At 1 December 2023

576,112

37,536

-

613,648

Profit for the year

119,830

119,830

Fair value adjustment

(240,057

)

-

240,057

-

At 30 November 2024

455,885

37,536

240,057

733,478

14.	CAPITAL COMMITMENTS

30.11.24

30.11.23

£

£

Contracted but not provided for in the

financial statements

280,000

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2024 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Tasos Papaloizou Chartered Accountants

Suite 1

The Golf Club

Darkes Lane

Potters Bar

EN6 1DE

Date: .............................................