Paragon Lift Company Limited - Abbreviated accounts

EMBARBA PARAGON LIFTS LIMITED - Company Information

Registered number

03037875

Paragon Lift Company Limited

Abbreviated Accounts

31 August 2015

Paragon Lift Company Limited
Registered number:		03037875
Abbreviated Balance Sheet
as at 31 August 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		279,265			281,266

Current assets
Stocks		7,250			5,000
Debtors		153,063			86,436
Cash at bank and in hand		80,409			16,156
		240,722			107,592

Creditors: amounts falling due within one year		(216,901)			(43,306)

Net current assets			23,821			64,286

Total assets less current liabilities			303,086			345,552

Creditors: amounts falling due after more than one year			(367,007)			(401,560)



Net liabilities			(63,921)			(56,008)

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			(64,021)			(56,108)

Shareholder's funds			(63,921)			(56,008)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



L Embarba
Director
Approved by the board on 14 October 2015

Paragon Lift Company Limited
Notes to the Abbreviated Accounts
for the year ended 31 August 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Buildings			2% straight line
	Plant and machinery			10% straight line
	Motor vehicles			25% reducing balance
	Office equipment and fixtures			10% straight line
	Computers			33% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

	Going concern
	The financial statements have been preapred under the going concern concept, which relies
	on the continued support of the company's holding company.


2	Tangible fixed assets					£

	Cost
	At 1 September 2014					301,643
	Additions					7,950
	Disposals					(7,212)
	At 31 August 2015					302,381

	Depreciation
	At 1 September 2014					20,377
	Charge for the year					8,051
	On disposals					(5,312)
	At 31 August 2015					23,116

	Net book value
	At 31 August 2015					279,265
	At 31 August 2014					281,266


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100