Registered number
SC526470
Paradigm Aberdeen Ltd
Filleted Accounts
28 February 2023
Paradigm Aberdeen Ltd
Registered number: SC526470
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 550,000 545,550
Current assets
Debtors 4 283,200 9,600
Cash at bank and in hand 82,131 483
365,331 10,083
Creditors: amounts falling due within one year 5 (1,230) -
Net current assets 364,101 10,083
Total assets less current liabilities 914,101 555,633
Creditors: amounts falling due after more than one year 6 (619,394) (577,779)
Net assets/(liabilities) 294,707 (22,146)
Capital and reserves
Revaluation reserve 7 193,040 -
Profit and loss account 101,667 (22,146)
Shareholders' funds 294,707 (22,146)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kirk Matthew Harrison
Director
Approved by the board on 25 October 2023
Paradigm Aberdeen Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 545,550
Surplus on revaluation 193,040
Disposals (188,590)
At 28 February 2023 550,000
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 550,000
At 28 February 2022 545,550
4 Debtors 2023 2022
£ £
Other debtors 283,200 9,600
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,230 -
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 619,394 577,779
7 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 193,040 -
At 28 February 2023 193,040 -
8 Other information
Paradigm Aberdeen Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Templars House
South Deeside Road
Aberdeenshire
AB12 5GB
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