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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2019 |
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FOR |
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PAPER SPACE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2019 |
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FOR |
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PAPER SPACE LIMITED |
PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PAPER SPACE LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 July 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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BALANCE SHEET |
31 July 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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BALANCE SHEET - continued |
31 July 2019 |
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The financial statements were approved by the Board of Directors on
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PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2019 |
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1. | STATUTORY INFORMATION |
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Paper Space Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered |
office and principal place of business at Northumberland House, Main Street, Elvington, York, YO41 4AA. |
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The principal activity of the company is that of the letting and operating of own or leased real estate. |
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The presentational currency of the financial statements is Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going |
concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to |
events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Income tax expense represents the sum of the tax currently payable and deferred tax. |
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the |
statement of comprehensive income because of items of income or expense that are taxable or deductible in other years |
and items that are never taxable or deductible. The Company's liability for the current tax is calculated using tax rates that |
have been enacted or substantively enacted by the end of the reporting period. |
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Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial |
statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally |
recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary |
differences to the extent that it is probable that taxable profits will be available against which those deductible timing |
differences can be utilised. The carrying amount of deferred tax is reviewed at the end of each reporting period and |
reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the |
asset to be recovered. |
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Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the |
liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or substantively |
enacted by the end of the reporting period. |
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Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in |
other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other |
comprehensive income or directly in equity respectively. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2018 |
and 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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5. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | RELATED PARTY TRANSACTIONS |
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Included within other creditors are amounts due to Mr & Mrs Willis. The amount outstanding as at 31st July 2019 was |
£127,978 (2018: £152,048) and the maximum balance outstanding during the year was £152,048 (2018: £176,041). |
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The above loan carries no interest and is repayable on demand. |
PAPER SPACE LIMITED (REGISTERED NUMBER: 04481786) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2019 |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of its directors, B Willis and Mrs K R Willis, as between them they hold 100% of the |
issued ordinary share capital. |