2022-12-012023-11-302023-11-30false11666080PARAGON ELECTRICAL 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PARAGON ELECTRICAL LIMITED

Registered Number
11666080
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

PARAGON ELECTRICAL LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Jack Gerrity
Billy Punter

Registered Address

9 Larzus Court, Woodgate
Rothley
Leicester
LE7 7NR

Registered Number

11666080 (England and Wales)
PARAGON ELECTRICAL LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets39,60014,400
Tangible assets419,70426,474
29,30440,874
Current assets
Debtors5117,756122,849
Cash at bank and on hand508,324
117,806131,173
Creditors amounts falling due within one year6(81,301)(111,907)
Net current assets (liabilities)36,50519,266
Total assets less current liabilities65,80960,140
Creditors amounts falling due after one year7(36,585)(30,821)
Net assets29,22429,319
Capital and reserves
Called up share capital100100
Profit and loss account29,12429,219
Shareholders' funds29,22429,319
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2024, and are signed on its behalf by:
Billy Punter
Director
Jack Gerrity
Director

Registered Company No. 11666080
PARAGON ELECTRICAL LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible assets
Intangible fixed assets are stated at cost or valuation less amortisation. Amortisation is provided on all intangible fixed assets on a 5 year straight line basis.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year54
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 2224,00024,000
At 30 November 2324,00024,000
Amortisation and impairment
At 01 December 229,6009,600
Charge for year4,8004,800
At 30 November 2314,40014,400
Net book value
At 30 November 239,6009,600
At 30 November 2214,40014,400
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 2215,49537,9901,83555,320
At 30 November 2315,49537,9901,83555,320
Depreciation and impairment
At 01 December 2210,59216,6211,63328,846
Charge for year1,2265,3422026,770
At 30 November 2311,81821,9631,83535,616
Net book value
At 30 November 233,67716,027-19,704
At 30 November 224,90321,36920226,474
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables105,10095,412
Other debtors12,65624,937
Prepayments and accrued income-2,500
Total117,756122,849
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,294-
Bank borrowings and overdrafts14,94329,636
Taxation and social security9,4166,296
Other creditors26,35921,104
Accrued liabilities and deferred income28,28954,871
Total81,301111,907
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts36,58530,821
Total36,58530,821