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REGISTERED NUMBER: 03405984 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

PARADISE CHILDRENS WEAR LIMITED

PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARADISE CHILDRENS WEAR LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Brahm Dev Kohli
Renu Bala Kohli





REGISTERED OFFICE: Unit 66 Owen Road
Industrial Estate
Owen Road
Willenhall
West Midlands
WV13 2PZ





REGISTERED NUMBER: 03405984 (England and Wales)





ACCOUNTANTS: Brindleys Limited
Chartered Accountants
2 Wheeleys Road
Edgbaston
Birmingham
B15 2LD

PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,401 63,694

CURRENT ASSETS
Stocks 537,685 372,645
Debtors 5 22,522 118,299
Cash at bank and in hand 210,237 104,658
770,444 595,602
CREDITORS
Amounts falling due within one year 6 106,007 113,979
NET CURRENT ASSETS 664,437 481,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,838

545,317

CREDITORS
Amounts falling due after more than one
year

7

(345,738

)

(264,044

)

PROVISIONS FOR LIABILITIES (3,611 ) (2,757 )
NET ASSETS 378,489 278,516

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 378,389 278,416
SHAREHOLDERS' FUNDS 378,489 278,516

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

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

PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)

Balance Sheet - continued
31 March 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 16 December 2023 and were signed on its behalf by:





Brahm Dev Kohli - Director


PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Paradise Childrens Wear 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 4 (2022 - 5 ) .

PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 117,445 62,923 180,368
Additions - 6,650 6,650
At 31 March 2023 117,445 69,573 187,018
DEPRECIATION
At 1 April 2022 68,261 48,413 116,674
Charge for year 4,789 2,154 6,943
At 31 March 2023 73,050 50,567 123,617
NET BOOK VALUE
At 31 March 2023 44,395 19,006 63,401
At 31 March 2022 49,184 14,510 63,694

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 13,649 7,293
Paradise Real Estates Ltd - 108,501
Prepayments 2,762 2,505
16,411 118,299

Amounts falling due after more than one year:
Directors' loan accounts 6,111 -

Aggregate amounts 22,522 118,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,816 27,320
Trade creditors 9,210 16,941
Corporation tax 81,893 58,825
Pension Control Ac 163 72
VAT 175 860
Directors' current accounts - 7,211
Accrued expenses 2,750 2,750
106,007 113,979

PARADISE CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 03405984)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bounce Back Loan 20,739 30,544
Paradise Group Of Companies 324,999 183,500
Directors' loan accounts - 50,000
345,738 264,044

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Brahm Dev Kohli and Renu Bala Kohli
Balance outstanding at start of year (57,211 ) (121,766 )
Amounts advanced 65,434 65,819
Amounts repaid (2,112 ) (1,264 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,111 (57,211 )

9. RELATED PARTY DISCLOSURES

Dividend Issued to Paradise Group of Companies ltd During the year £250,000 ( 89,000 In 2022)

Long Term liability of £324,999 is due to Paradise Group of Companies Ltd (£183,500 in 2022)
This is a related party transaction with no terms attached

10. ULTIMATE CONTROLLING PARTY

Ultimate Controlling Parties are Mr Brahm Dev Kohli and Mrs Renu Bala Kohli.