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REGISTERED NUMBER: 12860904 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PARADYME DEVELOPMENTS LTD

PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARADYME DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mr M R Smith





REGISTERED OFFICE: Orion House
28A Spital Terrace
GAINSBOROUGH
Lincolnshire
DN21 2HQ





REGISTERED NUMBER: 12860904 (England and Wales)





ACCOUNTANTS: Rigel Wolf Ltd
Orion House
28A Spital Terrace
GAINSBOROUGH
Lincolnshire
DN21 2HQ

PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 48,000 48,000

CURRENT ASSETS
Debtors 5 213 -
Cash at bank 52,788 3,248
53,001 3,248
CREDITORS
Amounts falling due within one year 6 58,152 52,032
NET CURRENT LIABILITIES (5,151 ) (48,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,849

(784

)

CREDITORS
Amounts falling due after more than one
year

7

42,822

-
NET ASSETS/(LIABILITIES) 27 (784 )

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 9 24 (787 )
SHAREHOLDERS' FUNDS 27 (784 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

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

PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)

BALANCE SHEET - continued
30 SEPTEMBER 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 11 April 2024 and were signed by:





Mr M R Smith - Director


PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Paradyme Developments Ltd 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006, the investment properties will be valued annually and included in the financial statements at fair value. The surplus or deficit will be transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of the freehold investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in the FRS. The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt the provisions of the FRS regarding investment properties in order to give them a true and fair view.

If this departure from the Act had not been made, the loss for the financial year would have been increased by depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 48,000
NET BOOK VALUE
At 30 September 2023 48,000
At 30 September 2022 48,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Prepayments and accrued income 213 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 2,925 -
Tax 190 306
Directors' current accounts 54,409 51,217
Accruals and deferred income 628 509
58,152 52,032

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years 2,925 -
Bank loans - 2-5 years 8,774 -
Bank loans more 5 yr by instal 31,123 -
42,822 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 31,123 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
3 Ordinary £1 3 3

PARADYME DEVELOPMENTS LTD (REGISTERED NUMBER: 12860904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9. RESERVES
Retained
earnings
£   

At 1 October 2022 (787 )
Profit for the year 811
At 30 September 2023 24

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period Mr M R Smith, the sole director and shareholder, charged the company £312 (2022 - £312) for use of home as office.

11. RELATED PARTY DISCLOSURES

At 30 September 2023 there was a balance owing to Mr M R Smith, the sole director and shareholder, of £54,409 (2022 - £51,217).

The balance has been shown in Creditors.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M R Smith.