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REGISTERED NUMBER: 06916165 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PARAMOUNT PLATFORMS LIMITED

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARAMOUNT PLATFORMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: S N Mann
S R Bone
L J Kerr





REGISTERED OFFICE: Riverside House
1 - 5 Como Street
Romford
Essex
RM7 7DN





REGISTERED NUMBER: 06916165 (England and Wales)





ACCOUNTANTS: Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,080 4,580
Tangible assets 5 2,891,213 2,074,459
2,895,293 2,079,039

CURRENT ASSETS
Debtors 6 544,604 447,732
Cash at bank and in hand 36,127 93,188
580,731 540,920
CREDITORS
Amounts falling due within one year 7 722,692 580,923
NET CURRENT LIABILITIES (141,961 ) (40,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,753,332

2,039,036

CREDITORS
Amounts falling due after more than
one year

8

(1,231,076

)

(915,391

)

PROVISIONS FOR LIABILITIES (545,581 ) (438,944 )
NET ASSETS 976,675 684,701

CAPITAL AND RESERVES
Called up share capital 120 115
Retained earnings 976,555 684,586
SHAREHOLDERS' FUNDS 976,675 684,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





S N Mann - Director


PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Paramount Platforms 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - Straight line over 5 years
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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.

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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 22 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 5,000
AMORTISATION
At 1 June 2022 420
Charge for year 500
At 31 May 2023 920
NET BOOK VALUE
At 31 May 2023 4,080
At 31 May 2022 4,580

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 51,854 3,026,416 770,337 41,904 3,890,511
Additions - 1,020,288 156,839 17,677 1,194,804
Disposals - (64,300 ) (51,090 ) (10,231 ) (125,621 )
At 31 May 2023 51,854 3,982,404 876,086 49,350 4,959,694
DEPRECIATION
At 1 June 2022 51,854 1,455,629 274,606 33,963 1,816,052
Charge for year - 204,065 104,291 6,272 314,628
Eliminated on disposal - (39,707 ) (12,261 ) (10,231 ) (62,199 )
At 31 May 2023 51,854 1,619,987 366,636 30,004 2,068,481
NET BOOK VALUE
At 31 May 2023 - 2,362,417 509,450 19,346 2,891,213
At 31 May 2022 - 1,570,787 495,731 7,941 2,074,459

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022 1,374,001 471,124 1,845,125
Additions 977,030 156,729 1,133,759
Disposals - (51,090 ) (51,090 )
At 31 May 2023 2,351,031 576,763 2,927,794
DEPRECIATION
At 1 June 2022 341,981 121,905 463,886
Charge for year 150,508 73,369 223,877
Eliminated on disposal - (12,261 ) (12,261 )
At 31 May 2023 492,489 183,013 675,502
NET BOOK VALUE
At 31 May 2023 1,858,542 393,750 2,252,292
At 31 May 2022 1,032,020 349,219 1,381,239

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 441,054 410,904
Other debtors 2,063 2,125
VAT 52,011 -
Prepayments and accrued income 49,476 34,703
544,604 447,732

PARAMOUNT PLATFORMS LIMITED (REGISTERED NUMBER: 06916165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans - less than 1 yr 71,749 71,749
Hire purchase contracts 530,693 326,923
Trade creditors 85,656 124,135
Social security and other taxes 16,805 13,852
Net wages - 650
VAT - 26,299
Other creditors 12,707 12,823
Accrued expenses 5,082 4,492
722,692 580,923

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years - 78,251
Hire purchase contracts 1,225,237 774,243
Other creditors 394 56,494
Director's loan account 5,445 6,403
1,231,076 915,391

9. RELATED PARTY DISCLOSURES

At the year end the following balance was owed from two directors:

L J Kerr owed the company £1,125 (2022 - £2,125)
S Bone owed the company £933 (2022 - NIL)


These amounts are included within Other Debtors.