Paradigm Office Interiors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04816120 (England and Wales)

PARADIGM OFFICE INTERIORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Bell

J McMullen

SECRETARY:

Ms J O'Dell

REGISTERED OFFICE:

Unit 46 Coleshill Trading Estate

Station Road

Coleshill

Birmingham

B46 1JT

REGISTERED NUMBER:

04816120 (England and Wales)

ACCOUNTANTS:

Harwoods Chartered Accountants

1 Trinity Place

Midland Drive

Sutton Coldfield

West Midlands

B72 1TX

FIXED ASSETS

Tangible assets

4

16,396

23,171

CURRENT ASSETS

Stocks

47,373

71,981

Debtors

616,067

443,098

Cash at bank and in hand

343,902

305,960

1,007,342

821,039

CREDITORS

Amounts falling due within one year

638,015

534,528

NET CURRENT ASSETS

369,327

286,511

TOTAL ASSETS LESS CURRENT LIABILITIES

385,723

309,682

PROVISIONS FOR LIABILITIES

(1,803

)

(2,803

)

ACCRUALS AND DEFERRED INCOME

(7,198

)

(5,993

)

NET ASSETS

376,722

300,886

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

376,522

300,686

SHAREHOLDERS' FUNDS

376,722

300,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 2 October 2018 and were signed on its behalf by:

J W Bell - Director

J McMullen - Director

1.	STATUTORY INFORMATION

Paradigm Office Interiors 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Over the life of the lease

Plant and machinery etc

-

33% on cost, 25% on cost and 15% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

and 30 June 2018

67,183

DEPRECIATION

At 1 July 2017

44,012

Charge for year

6,775

At 30 June 2018

50,787

NET BOOK VALUE

At 30 June 2018

16,396

At 30 June 2017

23,171

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2017

and 30 June 2018

7,715

DEPRECIATION

At 1 July 2017

1,051

Charge for year

1,928

At 30 June 2018

2,979

NET BOOK VALUE

At 30 June 2018

4,736

At 30 June 2017

6,664

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.6.18

30.6.17

£

£

Net obligations repayable:

Within one year

4,520

-

Non-cancellable operating

leases

30.6.18

30.6.17

£

£

Within one year

37,150

40,748

Between one and five years

77,022

39,172

114,172

79,920

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.18

30.6.17

£

£

Hire purchase contracts

4,520

-

The loans in respect of hire purchase agreements are secured against the assets in which they relate.

7.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately

from those of the company in an independently administered fund. The pension cost charge represents

contributions payable by the company to the fund and amounted to £2,905 (2017 - £1,226). Contributions

totalling £851(2017 - £362) were payable to the fund at the balance sheet date.