Paramount Care Agency Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC213893 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Paramount Care Agency Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms R Smyth

SECRETARY:

REGISTERED OFFICE:

47 Whytescauseway

Kirkcaldy

Fife

KY1 1XD

REGISTERED NUMBER:

SC213893 (Scotland)

ACCOUNTANTS:

Fife Business Services Ltd

Business Incubator Kirkcaldy

Myregormie Place

Kirkcaldy

Fife

KY1 3NA

FIXED ASSETS

Tangible assets

2

16,718

24,455

CURRENT ASSETS

Debtors

184,396

126,664

Cash at bank and in hand

32,351

25,092

216,747

151,756

CREDITORS

Amounts falling due within one year

63,264

45,564

NET CURRENT ASSETS

153,483

106,192

TOTAL ASSETS LESS CURRENT LIABILITIES

170,201

130,647

CREDITORS

Amounts falling due after more than one year

(1,373

)

-

PROVISIONS FOR LIABILITIES

(2,332

)

(4,178

)

NET ASSETS

166,496

126,469

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

166,396

126,369

SHAREHOLDERS' FUNDS

166,496

126,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(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.

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 director on 17 August 2015 and were signed by:

Ms R Smyth - Director

1.	ACCOUNTING POLICIES

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).

Turnover

The turnover shown in the profit and loss account represents services supplied during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

69,669

Additions

5,532

Disposals

(34,235

)

At 31 March 2015

40,966

DEPRECIATION

At 1 April 2014

45,214

Charge for year

4,939

Eliminated on disposal

(25,905

)

At 31 March 2015

24,248

NET BOOK VALUE

At 31 March 2015

16,718

At 31 March 2014

24,455

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary

£1

100

100

4.	RELATED PARTY DISCLOSURES

The Company was under the control of Ms R Smyth throughout the current and previous year.

Included within Debtors due within one year is an overdrawn director's loan balance of £59276.18 (2014

£17,500 DR) with Ms R Smyth. The director's loan will accrue interest at 4% per annum charged on a monthly

basis. Dividends of £25,000 have been issued on 30 April 2015 to reduce this balance.

Ms R Smyth is also a director and shareholder of Paramount Care Limited.