Paramount Radio Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07459082

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Paramount Radio Communications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Rawlings

M R Rawlings

REGISTERED OFFICE:

Unit 128

Business Design Centre

52 Upper Street,Islington

London

N1 0QH

REGISTERED NUMBER:

07459082

ACCOUNTANTS:

J C Associates

Chartered Certified Accountants

& Chartered Accountants

29 The Avenue

Harrow

Middlesex

HA3 7DB

FIXED ASSETS

Tangible assets

4

77,627

103,502

CURRENT ASSETS

Stocks

5

183,993

157,072

Debtors

6

43,300

77,126

Cash at bank

15,865

2,187

243,158

236,385

CREDITORS

Amounts falling due within one year

7

149,425

220,103

NET CURRENT ASSETS

93,733

16,282

TOTAL ASSETS LESS CURRENT LIABILITIES

171,360

119,784

CREDITORS

Amounts falling due after more than one year

8

105,250

62,450

NET ASSETS

66,110

57,334

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

56,110

47,334

SHAREHOLDERS' FUNDS

66,110

57,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2021 and were signed on its behalf by:

P A Rawlings - Director

1.	STATUTORY INFORMATION

Paramount Radio Communications Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

173,151

1,000

1,654

175,805

DEPRECIATION

At 1 January 2020

69,826

1,000

1,477

72,303

Charge for year

25,831

-

44

25,875

At 31 December 2020

95,657

1,000

1,521

98,178

NET BOOK VALUE

At 31 December 2020

77,494

-

133

77,627

At 31 December 2019

103,325

-

177

103,502

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2020

and 31 December 2020

36,027

DEPRECIATION

At 1 January 2020

9,007

Charge for year

6,755

At 31 December 2020

15,762

NET BOOK VALUE

At 31 December 2020

20,265

At 31 December 2019

27,020

5.

STOCKS

31.12.20

31.12.19

£

£

Finished goods

183,993

157,072

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

35,652

26,757

Prepayments

7,648

50,369

43,300

77,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Hire purchase contracts

19,832

30,773

Trade creditors

19,195

68,051

Corporation tax

3,021

846

Social security and other taxes

2,145

5,355

VAT

13,844

22,622

Net wages

-

4,994

Directors' current accounts

90,188

86,262

Accrued expenses

1,200

1,200

149,425

220,103

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans - 2-5 years

46,000

-

M Rawlings

59,250

53,050

P Rawlings

-

9,400

105,250

62,450