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Registration number: 06413580

Paragon Developments (Yorkshire) Limited

Unaudited Filleted Financial Statements

for the Period from 1 November 2022 to 31 January 2024

 

Paragon Developments (Yorkshire) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Paragon Developments (Yorkshire) Limited

Company Information

Directors

Mr James Poutch

Mr John Hastie

Company secretary

Mrs Tracey Ann Poutch

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Paragon Developments (Yorkshire) Limited

(Registration number: 06413580)
Balance Sheet as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

315,500

Current assets

 

Cash at bank and in hand

 

226,514

11,318

Creditors: Amounts falling due within one year

6

(201,137)

(188,104)

Net current assets/(liabilities)

 

25,377

(176,786)

Total assets less current liabilities

 

25,377

138,714

Creditors: Amounts falling due after more than one year

6

-

(95,113)

Net assets

 

25,377

43,601

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

25,277

43,501

Shareholders' funds

 

25,377

43,601

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Paragon Developments (Yorkshire) Limited

(Registration number: 06413580)
Balance Sheet as at 31 January 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 February 2024 and signed on its behalf by:
 

.........................................
Mr James Poutch
Director

.........................................
Mr John Hastie
Director

 

Paragon Developments (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the Board on 23 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Paragon Developments (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

nil.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Paragon Developments (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2022

315,500

315,500

Disposals

(315,500)

(315,500)

At 31 January 2024

-

-

Depreciation

Carrying amount

At 31 January 2024

-

-

At 31 October 2022

315,500

315,500

Included within the net book value of land and buildings above is £Nil (2022 - £315,500) in respect of freehold land and buildings.
 

 

Paragon Developments (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

5

Debtors

Current

2024
£

2022
£

 

-

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

8

-

19,105

Taxation and social security

 

526

9,590

Other creditors

 

200,611

159,409

 

201,137

188,104

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

8

-

95,113

7

Share capital

Allotted, called up and fully paid shares

 

2024

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Paragon Developments (Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

8

Loans and borrowings

2024
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

95,113

2024
£

2022
£

Current loans and borrowings

Bank borrowings

-

19,105