1 December 2020 false Taxfiler 2022.8.3 SC614142business:PrivateLimitedCompanyLtd2020-12-012021-11-30 SC6141422020-11-30 SC6141422020-12-012021-11-30 SC614142business:AuditExemptWithAccountantsReport2020-12-012021-11-30 SC614142business:FullAccounts2020-12-012021-11-30 SC6141422021-11-30 SC614142business:Director12020-12-012021-11-30 SC614142business:Director22020-12-012021-11-30 SC614142business:RegisteredOffice2020-12-012021-11-30 SC6141422020-11-30 SC614142core:WithinOneYear2021-11-30 SC614142core:WithinOneYear2020-11-30 SC614142core:AfterOneYear2021-11-30 SC614142core:AfterOneYear2020-11-30 SC614142core:ShareCapital2021-11-30 SC614142core:ShareCapital2020-11-30 SC614142core:RetainedEarningsAccumulatedLosses2021-11-30 SC614142core:RetainedEarningsAccumulatedLosses2020-11-30 SC614142business:SmallEntities2020-12-012021-11-30 SC614142countries:Scotland2020-12-012021-11-30 SC614142core:PlantMachinery2020-12-012021-11-30 SC614142core:PlantMachinery2020-11-30 SC614142core:PlantMachinery2021-11-30 SC6141422019-12-012020-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC614142 (Scotland)
PARAGON WHEELS LIMITED Unaudited accounts for the year ended 30 November 2021
PARAGON WHEELS LIMITED Unaudited accounts Contents
Page
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PARAGON WHEELS LIMITED Company Information for the year ended 30 November 2021
Directors
Stewart MacDonald Robert MacDonald
Company Number
SC614142 (Scotland)
Registered Office
205 BONNYTON DRIVE EAGLESHAM GLASGOW G76 0NQ UNITED KINGDOM
Accountants
McKinnon & Co Ltd ACPA 33 Newmarket Street Ayr Ayrshire KA7 1LL
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PARAGON WHEELS LIMITED Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,962 
6,078 
Current assets
Debtors
2,475 
- 
Cash at bank and in hand
12,524 
23,821 
14,999 
23,821 
Creditors: amounts falling due within one year
(6,627)
(28,523)
Net current assets/(liabilities)
8,372 
(4,702)
Total assets less current liabilities
20,334 
1,376 
Creditors: amounts falling due after more than one year
(19,767)
(354)
Net assets
567 
1,022 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
566 
1,021 
Shareholders' funds
567 
1,022 
For the 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. 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2022 and were signed on its behalf by
Stewart MacDonald Director Company Registration No. SC614142
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PARAGON WHEELS LIMITED Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
PARAGON WHEELS LIMITED is a private company, limited by shares, registered in Scotland, registration number SC614142. The registered office is 205 BONNYTON DRIVE, EAGLESHAM, GLASGOW, G76 0NQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2020
9,496 
Additions
7,100 
At 30 November 2021
16,596 
Depreciation
At 1 December 2020
3,418 
Charge for the year
1,216 
At 30 November 2021
4,634 
Net book value
At 30 November 2021
11,962 
At 30 November 2020
6,078 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Debtors: amounts falling due after more than one year
Trade debtors
2,475 
- 
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PARAGON WHEELS LIMITED Notes to the Accounts for the year ended 30 November 2021
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Taxes and social security
4,846 
4,913 
Loans from directors
1,531 
23,360 
Accruals
250 
250 
6,627 
28,523 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
14,500 
- 
Taxes and social security
5,267 
354 
19,767 
354 
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).
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