Paramount Homes (Cheltenham) Limited,Ltd - AccountsLtd - Accounts

PARAMOUNT HOMES (CHELTENHAM) LIMITED - Company Information

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Paramount Homes (Cheltenham) Limited

Registered Number:05706865

For the year ended 31 March 2024

England and Wales

Unaudited Financial Statements

Registered Number :

05706865

As at 31 March 2024

Paramount Homes (Cheltenham) Limited

Statement of Financial Position

2023

2024

Notes

Fixed assets

Property, plant and equipment

4,780

5,974

4,780

5,974

Current assets

Inventories

564,540

579,000

Trade and other receivables

2,921

24,671

208,230

Cash and cash equivalents

88,539

692,210

775,691

Trade and other payables: amounts falling due within one

year

(62,071)

(11,566)

713,620

680,644

Net current assets

Total assets less current liabilities

685,424

719,594

(3,221)

Provisions for liabilities

682,203

Net assets

716,373

Capital and reserves

Called up share capital

Retained earnings

682,202

716,372

682,203

716,373

Shareholders' funds

For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

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

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

Mr Robert Ian McGrath Director

These financial statements were approved and authorised for issue by the Board on 10 April 2024 and were signed by:

The notes form part of these financial statements

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For the year ended 31 March 2024

Paramount Homes (Cheltenham) Limited

Notes to the Financial Statements

Statutory Information

Paramount Homes (Cheltenham) Limited is a private limited company, limited by shares, domiciled in England and

Wales, registration number 05706865.

Registered address:

Mulberry House

The Ridge, Bussage

Stroud

Gloucestershire

GL6 8HD

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

20% Reducing balance

Computer equipment

20% Reducing balance

Motor vehicles

20% Reducing balance

Fixtures and fittings

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

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For the year ended 31 March 2024

Paramount Homes (Cheltenham) Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Motor

vehicles

Cost or

valuation

At 01 April 2023

36,992

1,677

178

35,137

At 31 March 2024

35,137

178

1,677

36,992

Provision for depreciation and impairment

At 01 April 2023

31,018

1,221

130

29,667

Charge for year

1,194

1,094

At 31 March 2024

32,212

1,312

139

30,761

At 31 March 2024

Net book value

4,376

365

4,780

At 31 March 2023

5,470

456

5,974

3. Inventories

2023

2024

Stocks

579,000

564,540

4. Trade and other receivables

2023

2024

Trade debtors

23,094

Other debtors

1,577

2,921

24,671

5. Trade and other payables: amounts falling due within one year

2023

2024

Trade creditors

11,208

31,163

Taxation and social security

358

7,753

Other creditors

23,155

11,566

62,071

6. Average number of persons employed

During the year the average number of employees was 1 (2023 : 1)

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