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Registration number: 04600474

Paragon Project Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Paragon Project Management Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Paragon Project Management Limited

Company Information

Director

Mr A R Warren

Company secretary

Mr D R Warren

Registered office

49 St Botolphs Road
Sevenoaks
Kent
TN13 3AG

Accountants

MyAccountant.co.uk Limited
Whitefriars
Lewins Mead
Bristol
BS1 2NT

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Paragon Project Management Limited
for the Year Ended 30 November 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paragon Project Management Limited for the year ended 30 November 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Paragon Project Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paragon Project Management Limited. You consider that Paragon Project Management Limited is exempt from the statutory audit requirement for the year.

......................................

MyAccountant.co.uk Limited
Whitefriars
Lewins Mead
Bristol
BS1 2NT

19 August 2022

 

Paragon Project Management Limited

(Registration number: 04600474)
Balance Sheet as at 30 November 2021

Note

2021
£

(As restated)

2020
£

Fixed assets

 

Tangible assets

4

20,616

26,292

Investments

5

748,843

645,666

 

769,459

671,958

Current assets

 

Debtors

6

-

26,250

Cash at bank and in hand

 

101,543

124,871

 

101,543

151,121

Creditors: Amounts falling due within one year

7

(3,594)

(64,446)

Net current assets

 

97,949

86,675

Total assets less current liabilities

 

867,408

758,633

Deferred tax liabilities

8

(14,760)

-

Net assets

 

852,648

758,633

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

852,548

758,533

Shareholders' funds

 

852,648

758,633

For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Paragon Project Management Limited

(Registration number: 04600474)
Balance Sheet as at 30 November 2021

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 August 2022
 

.........................................

Mr A R Warren
Director

 

Paragon Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
49 St Botolphs Road
Sevenoaks
Kent
TN13 3AG
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Paragon Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing balance basis

Fixtures & equipment

25% Reducing balance basis

Motor vehicles

20% Reducing balance basis

Investments

Investments are measured at their fair value, which is based on the open market value. Gains and losses arising from changes in fair value of investments are included in the Profit & Loss Account in the period in which they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. They are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2020 - 1).

 

Paragon Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2020

13,506

39,358

708

53,572

Disposals

-

-

(708)

(708)

At 30 November 2021

13,506

39,358

-

52,864

Depreciation

At 1 December 2020

7,829

18,911

540

27,280

Charge for the year

1,419

4,089

-

5,508

Eliminated on disposal

-

-

(540)

(540)

At 30 November 2021

9,248

23,000

-

32,248

Carrying amount

At 30 November 2021

4,258

16,358

-

20,616

At 30 November 2020

5,677

20,447

168

26,292

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2020

645,666

645,666

Fair value adjustments

103,177

103,177

At 30 November 2021

748,843

748,843

Impairment

Carrying amount

At 30 November 2021

748,843

748,843

 

Paragon Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

6

Debtors

2021
£

2020
£

Other debtors

-

26,250

-

26,250

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Directors' current account

80

98

Taxation and social security

 

107

12,765

Other creditors

 

3,407

51,583

 

3,594

64,446

8

Financial instruments

Financial assets measured at fair value

Share Investments


The fair value is £748,843 (2020 - £645,666) and the change in value included in profit or loss is £103,177 (2020 - £(4,673)).

Financial liabilities measured at fair value

Deferred tax


The fair value is £14,760 (2020 - £Nil) and the change in value included in profit or loss is £14,760 (2020 - £Nil).