Paragon London Properties Ltd
Paragon London Properties Ltd
Registered number: 11968172
Unaudited Financial Statements
For The Year Ended
30 April 2020
Paragon London Properties Ltd
Unaudited Financial Statements
For The Year Ended
30 April 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Paragon London Properties Ltd
Balance Sheet
As at
30 April 2020
Balance Sheet
Registered number:
11968172
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | |||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible Assets | 3 |
|
|
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|
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| CURRENT ASSETS | |||
| Debtors | 4 |
|
|
| Cash at bank and in hand |
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||
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
|
| NET CURRENT ASSETS (LIABILITIES) |
( |
||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
||
| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
|
| NET ASSETS |
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||
| CAPITAL AND RESERVES | |||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 5,128 | ||
Page 1
Paragon London Properties Ltd
Balance Sheet (continued)
As at
30 April 2020
Directors' responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Paragon London Properties Ltd
Notes to the Financial Statements
For The Year Ended
30 April 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from rental of residential investment properties.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 year and 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 end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL
3.
Tangible Assets
| Investment Properties | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| Additions | 1,119,364 |
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
Page 3
Paragon London Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2020
4.
Debtors
| 2020 | |
|---|---|
| £ | |
| Due within one year | |
| Other debtors |
|
|
|
|
5.
Creditors: Amounts Falling Due Within One Year
| 2020 | |
|---|---|
| £ | |
| Corporation tax |
|
| Other creditors |
|
| Accruals and deferred income |
|
|
|
|
6.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | |
|---|---|
| £ | |
| Bank loans |
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|
|
|
8.
General Information
Paragon London Properties Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11968172
. The registered office is 4 Nutter Lane, London, E11 2HY.
Page 4