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REGISTERED NUMBER: SC388750 (Scotland)















Unaudited Financial Statements for the Year Ended 30th November 2022

for

Paragon (Scotland) Limited

Paragon (Scotland) Limited (Registered number: SC388750)






Contents of the Financial Statements
for the Year Ended 30th November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paragon (Scotland) Limited

Company Information
for the Year Ended 30th November 2022







DIRECTORS: Mrs A Smith
P B Smith
Ms F Bogdan





REGISTERED OFFICE: Duneira Pier Road
Rhu
Helensburgh
G84 8LH





REGISTERED NUMBER: SC388750 (Scotland)






Paragon (Scotland) Limited (Registered number: SC388750)

Balance Sheet
30th November 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,223 560,443

CURRENT ASSETS
Debtors 5 2,535,222 692,196
Cash at bank 9,317 14,578
2,544,539 706,774
CREDITORS
Amounts falling due within one year 6 (1,052,459 ) (448,118 )
NET CURRENT ASSETS 1,492,080 258,656
TOTAL ASSETS LESS CURRENT LIABILITIES 1,502,303 819,099

CREDITORS
Amounts falling due after more than one year 7 (28,639 ) (333,236 )
NET ASSETS 1,473,664 485,863

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 - 93,040
Retained earnings 9 1,473,564 392,723
1,473,664 485,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 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.

Paragon (Scotland) Limited (Registered number: SC388750)

Balance Sheet - continued
30th November 2022


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 21st November 2023 and were signed on its behalf by:





Mrs A Smith - Director


Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements
for the Year Ended 30th November 2022

1. STATUTORY INFORMATION

Paragon (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 50% on cost and 20% on reducing balance

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2021 - 23 ) .

Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st December 2021 554,471 30,684 585,155
Additions - 20,448 20,448
Disposals (461,431 ) (30,684 ) (492,115 )
Revaluations (93,040 ) - (93,040 )
At 30th November 2022 - 20,448 20,448
DEPRECIATION
At 1st December 2021 - 24,712 24,712
Charge for year - 10,225 10,225
Eliminated on disposal - (24,712 ) (24,712 )
At 30th November 2022 - 10,225 10,225
NET BOOK VALUE
At 30th November 2022 - 10,223 10,223
At 30th November 2021 554,471 5,972 560,443

Cost or valuation at 30th November 2022 is represented by:

Plant and
machinery
etc
£   
Cost 20,448

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 2,468,992 689,844
Directors' current accounts 56,980 -
Prepayments 9,250 2,352
2,535,222 692,196

Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,597 10,648
Trade creditors 25,762 7,148
Tax 271,636 79,907
Social security and other taxes 66,995 27,187
VAT 666,779 164,120
Other creditors 8,790 2,956
Directors' current accounts - 155,072
Accrued expenses 3,900 1,080
1,052,459 448,118

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 2-5 years 28,639 35,185
Mortgage - 298,051
28,639 333,236

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Mortgage - 298,051

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st December 2021 392,723 93,040 485,763
Profit for the year 1,080,841 1,080,841
Movement - (93,040 ) (93,040 )
At 30th November 2022 1,473,564 - 1,473,564

Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2022

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th November 2022 and 30th November 2021:

2022 2021
£    £   
Mrs A Smith
Balance outstanding at start of year 77,536 77,837
Amounts advanced 673,588 -
Amounts repaid (779,614 ) (301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28,490 ) 77,536

P B Smith
Balance outstanding at start of year 77,536 77,837
Amounts advanced 673,588 -
Amounts repaid (779,614 ) (301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28,490 ) 77,536