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REGISTERED NUMBER: 07587581 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st May 2023

for

Paragon Oak Limited

Paragon Oak Limited (Registered number: 07587581)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paragon Oak Limited

Company Information
for the Year Ended 31st May 2023







DIRECTOR: P Brierley





REGISTERED OFFICE: Unit K & L Wheatley Park
Hagg Lane
Mirfield
WF14 8HE





REGISTERED NUMBER: 07587581 (England and Wales)

Paragon Oak Limited (Registered number: 07587581)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182,125 155,122

CURRENT ASSETS
Stocks 129,084 100,950
Debtors 5 132,676 77,723
Cash at bank 362,298 335,899
624,058 514,572
CREDITORS
Amounts falling due within one year 6 320,304 276,197
NET CURRENT ASSETS 303,754 238,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,879

393,497

CREDITORS
Amounts falling due after more than one
year

7

(25,780

)

(46,796

)

PROVISIONS FOR LIABILITIES (32,229 ) (25,442 )
NET ASSETS 427,870 321,259

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 427,760 321,149
SHAREHOLDERS' FUNDS 427,870 321,259

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Oak Limited (Registered number: 07587581)

Balance Sheet - continued
31st 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 director and authorised for issue on 13th December 2023 and were signed by:





P Brierley - Director


Paragon Oak Limited (Registered number: 07587581)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Paragon Oak 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue from the sale of goods and services is recognised when all the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive consideration due under the transaction;
- the costs incurred in respect of the transaction can be measured reliably; and
- specific criteria have been met for each of the company's activities.

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.
Short leasehold - 25% on Reducing Balance and Not Depreciated
Plant and machinery - 10% Straight Line Basis and Not Depreciated
Motor vehicles - 25% on Reducing Balance
Computer equipment - 33.3% Straight Line Basis

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Stock and work in progress
Stock and work in progress is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statements if financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

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.

Paragon Oak Limited (Registered number: 07587581)

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

2. ACCOUNTING POLICIES - continued

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
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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Other operating leases are charged to the profit and loss account as the expenditure is incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. The assets of the scheme are held separately from those of the company in an independently administered fund. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

Paragon Oak Limited (Registered number: 07587581)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2022 63,342 214,344 277,686
Additions - 61,591 61,591
At 31st May 2023 63,342 275,935 339,277
DEPRECIATION
At 1st June 2022 9,988 112,576 122,564
Charge for year 147 34,441 34,588
At 31st May 2023 10,135 147,017 157,152
NET BOOK VALUE
At 31st May 2023 53,207 128,918 182,125
At 31st May 2022 53,354 101,768 155,122

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st June 2022
and 31st May 2023 20,799
DEPRECIATION
At 1st June 2022 12,024
Charge for year 2,194
At 31st May 2023 14,218
NET BOOK VALUE
At 31st May 2023 6,581
At 31st May 2022 8,775

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 110,129 57,670
Other debtors 22,547 20,053
132,676 77,723

Paragon Oak Limited (Registered number: 07587581)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 9,870 9,626
Hire purchase contracts 11,146 3,145
Trade creditors 126,769 87,073
Taxation and social security 75,784 41,564
Other creditors 96,735 134,789
320,304 276,197

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 25,780 35,650
Hire purchase contracts - 11,146
25,780 46,796

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 11,146 14,291

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
60 Ordinary A £1 60 60
10 Ordinary B £1 10 10
40 Ordinary C £1 40 40
110 110

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Brierley.