Abbreviated Company Accounts - PARAGON REAL ESTATE LIMITED

PARAGON REAL ESTATE LIMITED - Company Information

07808410 PARAGON REAL ESTATE LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 07808410 2014-11-01 2015-10-31 07808410 2015-10-31 07808410 2014-10-31 07808410 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 07808410 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 iso4217:GBP shares

Registered Number 07808410

PARAGON REAL ESTATE LIMITED

Abbreviated Accounts

31 October 2015

PARAGON REAL ESTATE LIMITED Registered Number 07808410

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	467,773	467,773
		467,773	467,773
Current assets
Debtors		43,519	40,094
Cash at bank and in hand		12,285	21,451
		55,804	61,545
Creditors: amounts falling due within one year	3	(214,027)	(228,301)
Net current assets (liabilities)		(158,223)	(166,756)
Total assets less current liabilities		309,550	301,017
Creditors: amounts falling due after more than one year	3	(286,953)	(306,120)
Total net assets (liabilities)		22,597	(5,103)
Capital and reserves
Called up share capital	4	120	120
Profit and loss account		22,477	(5,223)
Shareholders' funds		22,597	(5,103)

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 July 2016

And signed on their behalf by:
Mr C J McClellan, Director

PARAGON REAL ESTATE LIMITED Registered Number 07808410

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

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

The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Other accounting policies
Investment properties

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 November 2014	477,319
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	477,319
Depreciation
At 1 November 2014	9,546
Charge for the year	-
On disposals	-
At 31 October 2015	9,546
Net book values
At 31 October 2015	467,773
At 31 October 2014	467,773

3Creditors

	2015 £	2014 £
Secured Debts	306,103	325,270

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
120 Ordinary shares of £1 each	120	120