PAPERCHASE GROUP LTD Financial Accounts REGISTERED NUMBER: (England and Wales)

Transcription

1 PAPERCHASE GROUP LTD Financial Accounts REGISTERED NUMBER: (England and Wales) ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015 FOR PAPERCHASE GROUP LTD

2 CONTENTS OF THE ABBREVIATED ACCOUNTS Page Company Information 1 Abbreviated Balance Sheet 2 Notes to the Abbreviated Accounts 4

3 PAPERCHASE GROUP LTD COMPANY INFORMATION DIRECTORS: S Gupta H Patel M B Patel U B Patel R Ravichandran S Khan SECRETARY: M B Patel REGISTERED OFFICE: First Floor 42 Sydenham Road London SE26 5QF REGISTERED NUMBER: (England and Wales) ACCOUNTANTS: Stein Richards Chartered Accountants 10 London Mews Paddington London W2 1HY Page 1

4 ABBREVIATED BALANCE SHEET 31 May Notes FIXED ASSETS Investments 2 600, ,193 CURRENT ASSETS Debtors 31,861 4,861 Cash at bank 70, , , ,538 CREDITORS Amounts falling due within one year 3 702, ,165 NET CURRENT LIABILITIES (600,465) (551,627) TOTAL ASSETS LESS CURRENT LIABILITIES (272 ) 48,566 CREDITORS Amounts falling due after more than one year 3-54,832 NET LIABILITIES (272) (6,266) CAPITAL AND RESERVES Called up share capital 4 1,000 1,000 Profit and loss account (1,272) (7,266) SHAREHOLDERS' FUNDS (272) (6,266) The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act The directors acknowledge their responsibilities for: ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the (a) Companies Act 2006 and 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 (b) 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 notes form part of these abbreviated accounts Page 2 continued...

5 ABBREVIATED BALANCE SHEET - continued 31 May 2015 The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements were approved by the Board of Directors on 12 February 2016 and were signed on its behalf by: S Gupta - Director The notes form part of these abbreviated accounts Page 3

6 1. ACCOUNTING POLICIES NOTES TO THE ABBREVIATED ACCOUNTS Basis of preparing the financial statements The financial statements have been prepared on a going concern basis. Whilst the company has a net deficit on its balance sheet it is reliant on the continued support of the subsidiary companies. The directors have been given assurances by the group companies that these loans are not re-payable until the company's cashflow allows it to do so. Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Preparation of consolidated financial statements The financial statements contain information about Paperchase Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Investments Fixed asset investments are stated at cost less provision for diminution in value. 2. FIXED ASSET INVESTMENTS Investments other than loans COST At 1 June 2014 and 31 May ,193 NET BOOK VALUE At 31 May ,193 At 31 May ,193 The company's investments at the Balance Sheet date in the share capital of companies include the following: Subsidiaries Paperchase Accountancy Limited Nature of business: Accounting and Bookkeeping Services Ordinary Aggregate capital and reserves 1,658,369 1,048,975 Profit for the year 945, ,961 Page 4 continued...

7 NOTES TO THE ABBREVIATED ACCOUNTS - continued 2. FIXED ASSET INVESTMENTS - continued Paperchase Computers Limited Nature of business: Buy and sell computer hardware and software Ordinary Aggregate capital and reserves 52,000 58,941 Profit for the year 19,059 24,582 Paperchase Troncmaster Services Limited Nature of business: Troncmaster service Ordinary Aggregate capital and reserves 35,144 57,252 Profit for the year 21,740 22,618 Stock Take Online Limited Nature of business: Stock take services Ordinary Aggregate capital and reserves (2,400) 460 (Loss)/profit for the year (2,860) 360 Paperchase Accountancy USA Inc. Country of incorporation: United States of America Nature of business: Accounting and Bookkeeping Services Ordinary Aggregate capital and reserves 3,532 (458) Profit for the year 4,010 9,692 Page 5 continued...

8 NOTES TO THE ABBREVIATED ACCOUNTS - continued 2. FIXED ASSET INVESTMENTS - continued Paperchase Accountancy India Private Limited Country of incorporation: India Nature of business: Accountancy services Ordinary Aggregate capital and reserves 388, ,370 Profit for the year 72,598 59,844 The company held the investment in Paperchase Accountancy India Private Limited through Paperchase Computers Limited. Associated companies Paperchase Business Services Private Limited Country of incorporation: India Nature of business: Accountancy services Ordinary Aggregate capital and reserves (3,656) (34,909) Profit/(loss) for the year 31,547 (8,770) The company held the investment in Paperchase Business Services Private Limited through Paperchase Computers Limited.. Paperchase Business Services Limited Nature of business: Accountancy services Ordinary Aggregate capital and reserves 4,952 (330) Profit for the year 5,168 1,302 The company held the investment in Paperchase Business Services Limited through Paperchase Computers Limited. 3. CREDITORS Creditors include an amount of 7,271 ( ,227 ) for which security has been given. Page 6 continued...

9 4. CALLED UP SHARE CAPITAL NOTES TO THE ABBREVIATED ACCOUNTS - continued Allotted, issued and fully paid: Number: Class: Nominal value: 1,000 Ordinary 1 1,000 1,000 Page 7

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