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Registered number: 8415264
PARAMA & SONS LIMITED
Financial Statements
For The Year Ended 28 February 2024
Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr P Sivarajah
Mr Paramanathar Thavarajah
Company Number 8415264
Registered Office 31-33 FLAMSTEED ROAD
STRELLY
NOTTINGHAM
NG8 6LR
Business 31-33 FLAMSTEED ROAD
STRELLY
NOTTINGHAM
NG8 6LR
Accountants Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Page 1
Page 2
Balance Sheet
Registered number: 8415264
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 131,488 131,488
Tangible Assets 5 34,796 10,582
166,284 142,070
CURRENT ASSETS
Stocks 6 198,450 192,580
Debtors 7 125 -
Cash at bank and in hand 188,631 143,107
387,206 335,687
Creditors: Amounts Falling Due Within One Year 8 (93,581 ) (71,289 )
NET CURRENT ASSETS (LIABILITIES) 293,625 264,398
TOTAL ASSETS LESS CURRENT LIABILITIES 459,909 406,468
Creditors: Amounts Falling Due After More Than One Year 9 (47,032 ) (32,500 )
NET ASSETS 412,877 373,968
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 412,777 373,868
SHAREHOLDERS' FUNDS 412,877 373,968
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Sivarajah
Director
Mr Paramanathar Thavarajah
Director
24/04/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
PARAMA & SONS LIMITED Registered number 8415264 is a limited by shares company incorporated in England & Wales. The Registered Office is 31-33 FLAMSTEED ROAD, STRELLY, NOTTINGHAM, NG8 6LR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% @ WDV
Fixtures & Fittings 20% @WDV
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge 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 applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 8)
10 8
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 131,488
As at 28 February 2024 131,488
Net Book Value
As at 28 February 2024 131,488
As at 1 March 2023 131,488
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 9,000 35,600 44,600
Additions 31,670 - 31,670
Disposals (9,000 ) - (9,000 )
As at 28 February 2024 31,670 35,600 67,270
Depreciation
As at 1 March 2023 6,865 27,153 34,018
Provided during the period 3,800 1,521 5,321
Disposals (6,865 ) - (6,865 )
As at 28 February 2024 3,800 28,674 32,474
Net Book Value
As at 28 February 2024 27,870 6,926 34,796
As at 1 March 2023 2,135 8,447 10,582
6. Stocks
2024 2023
£ £
Materials 198,450 192,580
7. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security 125 -
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,255 16,985
Bank loans and overdrafts - 8,098
Corporation tax 54,042 27,559
Other taxes and social security - 2,067
VAT 9,791 10,760
Other creditors 4,699 -
Directors' loan accounts 10,794 5,820
93,581 71,289
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,532 -
Bank loans-BBL 22,500 32,500
47,032 32,500
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 24,532 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr P Sivarajah 25,000 30,000
Mr Paramanathar Thavarajah 25,000 30,000
13. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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