Paradigm Design Solutions Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07527617 (England and Wales)

Paradigm Design Solutions Limited

Abridged Unaudited Financial Statements for the Year Ended 30 April 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

G R Willis

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

07527617 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

HSBC Bank plc

10 Colliers Walk

Nailsea

North Somerset

BS48 1RL

FIXED ASSETS

Intangible assets

5

688

458

Tangible assets

6

15,097

5,622

15,785

6,080

CURRENT ASSETS

Stocks

15,000

13,043

Debtors

38,406

57,396

Cash at bank

62,589

23,305

115,995

93,744

CREDITORS

Amounts falling due within one year

82,102

86,526

NET CURRENT ASSETS

33,893

7,218

TOTAL ASSETS LESS CURRENT LIABILITIES

49,678

13,298

CREDITORS

Amounts falling due after more than one year

(4,726

)

-

PROVISIONS FOR LIABILITIES

(2,762

)

(987

)

NET ASSETS

42,190

12,311

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

42,090

12,211

SHAREHOLDERS' FUNDS

42,190

12,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 30 January 2018 and were signed by:

G R Willis - Director

1.	STATUTORY INFORMATION

Paradigm Design Solutions Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 2012, is being amortised evenly over its estimated useful life of five years.

Patents & trade marks

The costs relating to the Patents & Trade Marks are being written off over the individual assets' estimated useful

life. The assets' estimated useful lives are looked at on an individual asset basis.

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

-

33% 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2016

1,887

Additions

340

At 30 April 2017

2,227

AMORTISATION

At 1 May 2016

1,429

Amortisation for year

110

At 30 April 2017

1,539

NET BOOK VALUE

At 30 April 2017

688

At 30 April 2016

458

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2016

13,357

Additions

18,897

At 30 April 2017

32,254

DEPRECIATION

At 1 May 2016

7,735

Charge for year

9,422

At 30 April 2017

17,157

NET BOOK VALUE

At 30 April 2017

15,097

At 30 April 2016

5,622

7.	ULTIMATE CONTROLLING PARTY

The controlling party is G R Willis.