Company registration number 3862040 (England and Wales)
INK ON PAPER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
INK ON PAPER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
INK ON PAPER LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
801
Current assets
Debtors
4
4,135
Cash at bank and in hand
11,563
6,749
11,563
10,884
Creditors: amounts falling due within one year
5
(2,789)
(2,831)
Net current assets
8,774
8,053
Net assets
8,774
8,854
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8,674
8,754
Total equity
8,774
8,854
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period 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 and signed by the director and authorised for issue on 12 May 2023
Mr S N Payne
Director
Company Registration No. 3862040
INK ON PAPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Ink on Paper Limited is a private company limited by shares incorporated in England and Wales. The registered office is 29 King Edwards Road, Ascot, Berkshire, United Kingdom, SL5 8NY.
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 amounts 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 is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% on reducing balance
1.4
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
INK ON PAPER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Computers
£
Cost
At 1 November 2021
14,131
Disposals
(14,131)
At 31 March 2023
Depreciation and impairment
At 1 November 2021
13,330
Depreciation charged in the period
374
Eliminated in respect of disposals
(13,704)
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 October 2021
801
4
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
4,135
5
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
500
Taxation and social security
666
616
Other creditors
2,123
1,715
2,789
2,831