Paradigm Developments & Property Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06472472 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

PARADIGM DEVELOPMENTS & PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R S Wood

J A Bentley

REGISTERED OFFICE:

Elmwood House

York Road

Kirk Hammerton

York

North Yorkshire

YO26 8DH

REGISTERED NUMBER:

06472472 (England and Wales)

ACCOUNTANTS:

Positive Accountants

Elmwood House

York Road

Kirk Hammerton

York

North Yorkshire

YO26 8DH

FIXED ASSETS

Intangible assets

3

-

2,532

Tangible assets

4

197,600

118,644

Investments

5

147,000

147,000

344,600

268,176

CURRENT ASSETS

Stocks

496

473

Debtors

6

474,296

416,709

Cash at bank

156,983

251,366

631,775

668,548

CREDITORS

Amounts falling due within one year

7

79,884

162,003

NET CURRENT ASSETS

551,891

506,545

TOTAL ASSETS LESS CURRENT LIABILITIES

896,491

774,721

CREDITORS

Amounts falling due after more than one year

8

-

(34,022

)

PROVISIONS FOR LIABILITIES

(45,448

)

(22,542

)

NET ASSETS

851,043

718,157

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

850,843

717,957

851,043

718,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 26 February 2024 and were signed on its behalf by:

R S Wood - Director

1.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of fourteen years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

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 profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2022

and 31 May 2023

16,895

AMORTISATION

At 1 June 2022

14,363

Charge for year

2,532

At 31 May 2023

16,895

NET BOOK VALUE

At 31 May 2023

-

At 31 May 2022

2,532

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2022

211,376

Additions

135,327

At 31 May 2023

346,703

DEPRECIATION

At 1 June 2022

92,732

Charge for year

56,371

At 31 May 2023

149,103

NET BOOK VALUE

At 31 May 2023

197,600

At 31 May 2022

118,644

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2022

and 31 May 2023

147,000

NET BOOK VALUE

At 31 May 2023

147,000

At 31 May 2022

147,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

196,184

154,742

Amounts owed by associates

50,000

50,000

Other debtors

228,112

211,967

474,296

416,709

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

9,666

Trade creditors

12,498

20,035

Taxation and social security

38,709

104,300

Other creditors

28,677

28,002

79,884

162,003

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

-

34,022