Company Registration No. 10392678 (England and Wales)
Paradym Ltd
Unaudited accounts
for the year ended 30 September 2023
Paradym Ltd
Unaudited accounts
Contents
Paradym Ltd
Company Information
for the year ended 30 September 2023
Directors
Courtney Carlsson
Yuanfang Yan
Company Number
10392678 (England and Wales)
Registered Office
4 Endsleigh Street
Bloomsbury
London
WC1H 0DS
United Kingdom
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Paradym Ltd
Statement of financial position
as at 30 September 2023
Cash at bank and in hand
5,405
(935)
Creditors: amounts falling due within one year
(321,859)
(134,581)
Net current liabilities
(269,135)
(98,420)
Net liabilities
(269,135)
(98,420)
Called up share capital
148
148
Share premium
1,030,320
1,030,320
Capital contribution reserve
11,214
11,214
Profit and loss account
(1,310,817)
(1,140,102)
Shareholders' funds
(269,135)
(98,420)
For the year ending 30 September 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Courtney Carlsson
Director
Company Registration No. 10392678
Paradym Ltd
Notes to the Accounts
for the year ended 30 September 2023
Paradym Ltd is a private company, limited by shares, registered in England and Wales, registration number 10392678. The registered office is 4 Endsleigh Street, Bloomsbury, London, WC1H 0DS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Research and Development tax credit
During the previous financial year, Paradym Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Capital Contribution Reserve
The capital contribution reserve component of equity relates to advanced subscription agreements, for which £11k has been received in exchange for shares that have not yet been issued.
Paradym Ltd
Notes to the Accounts
for the year ended 30 September 2023
Amounts falling due within one year
Accrued income and prepayments
-
145
Other debtors
35,176
35,176
Amounts falling due after more than one year
Accrued income and prepayments
4,432
-
5
Creditors: amounts falling due within one year
2023
2022
Trade creditors
17,422
24,329
Taxes and social security
12,200
10,572
Loans from directors
292,237
98,746
The Director's Loan is interest free and repayable on demand.
Allotted, called up and fully paid:
14,850,611 Ordinary shares of £0.00001 each
148.50
148.50
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).