Paragon Property Maintenance Limited Company Accounts
Paragon Property Maintenance Limited Company Accounts
COMPANY REGISTRATION NUMBER:
08365668
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FINANCIAL STATEMENTS |
YEAR ENDED 31 JANUARY 2017
CONTENTS |
PAGES |
Statement of financial position |
1 to 2 |
Notes to the financial statements |
3 to 7 |
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements |
9 |
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STATEMENT OF FINANCIAL POSITION |
2017 |
2016 |
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Note |
£ |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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CURRENT ASSETS
Stocks |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
6 |
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NET CURRENT LIABILITIES |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
7 |
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– |
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NET LIABILITIES |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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MEMBERS DEFICIT |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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STATEMENT OF FINANCIAL POSITION (continued) |
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
5 September 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
08365668
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 JANUARY 2017
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 6 Alfred Street, Rushden, Northants, NN10 9YS.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared on a going concern basis. This has been done as its believed that the director and shareholder of the business will continue to provide financial support to the business.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Judgements and key sources of estimation uncertainty
Revenue recognition
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
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Motor Vehicle |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
2
(2016:
2
).
5.
TANGIBLE ASSETS
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 February 2016 |
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– |
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Additions |
– |
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At 31 January 2017 |
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Depreciation |
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At 1 February 2016 |
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– |
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Charge for the year |
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At 31 January 2017 |
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Carrying amount |
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At 31 January 2017 |
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At 31 January 2016 |
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6.
CREDITORS:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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7.
CREDITORS:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Other creditors |
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8.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2017 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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2016 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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9.
RELATED PARTY TRANSACTIONS
The company was under the control of
Mr A M Kew
throughout the current and previous year. Mr A Kew is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.
10.
TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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MANAGEMENT INFORMATION |
YEAR ENDED 31 JANUARY 2017
The following pages do not form part of the financial statements.
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CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
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YEAR ENDED 31 JANUARY 2017
6 Alfred Street
Rushden
Northants
NN10 9YS