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REGISTERED NUMBER: 03911122 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Paragon Flooring Limited

Paragon Flooring Limited (Registered number: 03911122)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Paragon Flooring Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: L C Wilkshire





REGISTERED OFFICE: 60 Chapel View
South Croydon
Surrey
CR2 7LJ





REGISTERED NUMBER: 03911122 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Paragon Flooring Limited (Registered number: 03911122)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 648,023 648,023

CREDITORS
Amounts falling due within one year 5 (645,780 ) (645,780 )
NET CURRENT LIABILITIES (645,780 ) (645,780 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,243

2,243

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 6 2,239 2,239
2,243 2,243

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





L C Wilkshire - Director


Paragon Flooring Limited (Registered number: 03911122)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Paragon Flooring 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 (£).


The principal activity of the company is that of holding company.

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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Paragon Flooring Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost less provision for diminution in value.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

Paragon Flooring Limited (Registered number: 03911122)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 November 2022
and 31 October 2023 648,023
NET BOOK VALUE
At 31 October 2023 648,023
At 31 October 2022 648,023

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Paragon Contracts Limited
Registered office: 60 Chapel View, Croydon, Surrey, CR2 7LJ
Nature of business: Floor and wall covering
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,011,312 990,608
Profit for the year 21,704 74,569

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,643 15,643
Amounts owed to group undertakings 636,137 630,137
645,780 645,780

The director considers the carrying amounts of current liabilities approximate to their fair values.

Legal charge at Companies House has been registered by Royal Bank of Scotland PLC for the loan taken by company, which has fixed and floating charges over the undertaking and all property and assets present and future including goodwill uncalled capital buildings fixtures plant and machinery.

6. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

Paragon Flooring Limited (Registered number: 03911122)

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

7. RELATED PARTY DISCLOSURES

Dividends totaling £1,000 (2022 - £28,000) were paid in the year in respect of shares held by the company's director. This loan is interest free and repayable on demand.

Included in other creditors are amounts due to subsidiary company of £636,137 (2022 - £630,137). This loan is interest free and repayable on demand.

Mr Leslie Yorkshire is the ultimate controlling party by virtue of his sole directorship and shareholding in the company.