Paper Mill Lane Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05046260 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 August 2022

for

PAPER MILL LANE PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

James Andrew Brackenbury

Eamonn Michael Killoughery

SECRETARY:

Susan Killoughery

REGISTERED OFFICE:

Unit 2

Varity Park

Vicarage Farm Road

Peterborough

Cambridgeshire

PE1 5GU

REGISTERED NUMBER:

05046260 (England and Wales)

ACCOUNTANTS:

Fortus Business Advisors & Accountants

4 Office Village

Forder Way

Cygnet Park, Hampton

Peterborough

Cambridgeshire

PE7 8GX

CURRENT ASSETS

Stocks

2,310,000

2,310,000

Debtors

5

83

-

Cash at bank

437

334

2,310,520

2,310,334

CREDITORS

Amounts falling due within one year

6

1,631,800

1,634,629

NET CURRENT ASSETS

678,720

675,705

TOTAL ASSETS LESS CURRENT LIABILITIES

678,720

675,705

CAPITAL AND RESERVES

Called up share capital

7

150,000

150,000

Retained earnings

528,720

525,705

SHAREHOLDERS' FUNDS

678,720

675,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 16 January 2023 and were signed on its behalf by:

James Andrew Brackenbury - Director

1.	STATUTORY INFORMATION

Paper Mill Lane Properties 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Costs includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties and loans to connected companies.

Loans and borrowing are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Going concern

The company meets its day to day working capital requirements through loans advanced by companies under common control. The directors/shareholders have given their assurance that these loans from the connected companies will not be repaid if it will adversely affect the day to day requirements of the company.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

83

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

19,674

21,389

Amounts owed to connected companies

1,611,626

1,611,127

Other creditors

500

2,113

1,631,800

1,634,629

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

150,000

Ordinary

£1

150,000

150,000

8.	RELATED PARTY DISCLOSURES

The ultimate controlling party is Eamonn Michael Killoughery.