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REGISTERED NUMBER: 06137802 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Paramount Global Limited

Paramount Global Limited (Registered number: 06137802)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Paramount Global Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J Gample
Mr J W Gample





REGISTERED OFFICE: The Spark
Drayman's Way
Newcastle Upon Tyne
NE4 5DE





REGISTERED NUMBER: 06137802 (England and Wales)





ACCOUNTANTS: Haines Watts
Sterling House
22 St Cuthberts Way
Darlington
Co. Durham
DL1 1GB

Paramount Global Limited (Registered number: 06137802)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 512,144 543,403
512,144 543,403

CURRENT ASSETS
Stocks 491,166 428,331
Debtors 6 3,900,661 4,053,757
Cash at bank and in hand 2,526,485 937,563
6,918,312 5,419,651
CREDITORS
Amounts falling due within one year 7 788,985 905,320
NET CURRENT ASSETS 6,129,327 4,514,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,641,471

5,057,734

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and loss account 6,640,471 5,056,734
6,641,471 5,057,734

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2024 and were signed on its behalf by:





Mr J Gample - Director


Paramount Global Limited (Registered number: 06137802)

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

1. STATUTORY INFORMATION

Paramount Global 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 (£).


2. STATEMENT OF COMPLIANCE

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for services net of VAT.

In respect of goods sold, turnover is recognised when goods are physically delivered to the customer.
Uninvoiced deliveries at the year-end are included in accrued income. invoiced deliveries are included in
debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the
goods have been delivered.

In respect of freight and other services, turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Invoices are not raised until a contract is complete so the value of incomplete services is included as Amounts recoverable on contracts in the balance sheet.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost represents the purchase price of goods. Net realisable value represents the selling price of completed goods less any costs necessary to complete the goods. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Paramount Global Limited (Registered number: 06137802)

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

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses
arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are
received.

Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of
exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling
at the date of the transaction. All differences are taken to profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,101,766 65,250 1,167,016
Additions - 6,334 6,334
At 31 December 2023 1,101,766 71,584 1,173,350
DEPRECIATION
At 1 January 2023 558,870 64,743 623,613
Charge for year 36,070 1,523 37,593
At 31 December 2023 594,940 66,266 661,206
NET BOOK VALUE
At 31 December 2023 506,826 5,318 512,144
At 31 December 2022 542,896 507 543,403

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,243,571 1,329,429
Other debtors 262,090 329,328
1,505,661 1,658,757

Paramount Global Limited (Registered number: 06137802)

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

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed from related parties 2,395,000 2,395,000

Aggregate amounts 3,900,661 4,053,757

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 99,506 88,144
Taxation and social security 420,542 275,789
Other creditors 268,937 541,387
788,985 905,320