Company Registration No. 06656347 (England and Wales)
PAPAA ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2019
PAGES FOR FILING WITH REGISTRAR
PAPAA ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PAPAA ENTERPRISES LIMITED
BALANCE SHEET
AS AT
5 APRIL 2019
05 April 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
4
1
1
Net current assets
1
1
Capital and reserves
Called up share capital
5
1
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 5 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 December 2019 and are signed on its behalf by:
Brian Lindsey
Director
Company Registration No. 06656347
PAPAA ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2019
- 2 -
1
Accounting policies
Company information
PAPAA Enterprises Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Acre House, 11-15 William Road, London, NW1 3ER, United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the contribution from Psoriasis and Psoriatic Arthritis Alliance (parent company).
1.3
Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The directors do no not consider there to be judgements or estimates that would be considered critical to the financial statements.
3
Employees
There were no employees during the year
or the prior year.
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
1
1
PAPAA ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2019
- 3 -
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and not fully paid
1 Ordinary share of £1 each
1
1
1
1
6
Parent company
The parent company is Psoriasis Arthritis Alliance, a charitable company incorporated in England and Wales. Psoriasis and Psoriatic Arthritis Alliance has licensed the use of eTips website to PAPAA Enterprises Limited a wholly owned subsidiary. This activity is within the objects of the charity and therefore considered to be primary purpose trading. At the end of the period Psoriasis and Psoriatic Arthritis Alliance owed £1 (201
8
:£1) to PAPAA Enterprises Limited and made contributions of £
572
(201
8
:£
543
)