Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11847937 Mr Neil O'Sullivan Miss Kelly Goddard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11847937 2022-12-31 11847937 2023-12-31 11847937 2023-01-01 2023-12-31 11847937 frs-core:CurrentFinancialInstruments 2023-12-31 11847937 frs-core:Non-currentFinancialInstruments 2023-12-31 11847937 frs-core:ComputerEquipment 2023-12-31 11847937 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11847937 frs-core:ComputerEquipment 2022-12-31 11847937 frs-core:FurnitureFittings 2023-12-31 11847937 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11847937 frs-core:FurnitureFittings 2022-12-31 11847937 frs-core:PlantMachinery 2023-12-31 11847937 frs-core:PlantMachinery 2023-01-01 2023-12-31 11847937 frs-core:PlantMachinery 2022-12-31 11847937 frs-core:ShareCapital 2023-12-31 11847937 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11847937 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11847937 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11847937 frs-bus:SmallEntities 2023-01-01 2023-12-31 11847937 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11847937 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11847937 frs-bus:Director1 2023-01-01 2023-12-31 11847937 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11847937 frs-countries:EnglandWales 2023-01-01 2023-12-31 11847937 2021-12-31 11847937 2022-12-31 11847937 2022-01-01 2022-12-31 11847937 frs-core:CurrentFinancialInstruments 2022-12-31 11847937 frs-core:Non-currentFinancialInstruments 2022-12-31 11847937 frs-core:ShareCapital 2022-12-31 11847937 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11847937
Paragon Star Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ecommerce Accountants LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11847937
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,023 267
2,023 267
CURRENT ASSETS
Stocks 5 15,000 15,000
Debtors 6 37,922 64,527
Cash at bank and in hand 7,134 12,386
60,056 91,913
Creditors: Amounts Falling Due Within One Year 7 (20,297 ) (28,524 )
NET CURRENT ASSETS (LIABILITIES) 39,759 63,389
TOTAL ASSETS LESS CURRENT LIABILITIES 41,782 63,656
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (24,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (384 ) (171 )
NET ASSETS 27,231 39,318
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 27,230 39,317
SHAREHOLDERS' FUNDS 27,231 39,318
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Neil O'Sullivan
Director
08/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paragon Star Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11847937 . The registered office is 16 Christian Close, Hoddesdon, Herts, EN11 9FF.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery Straight line method for 3 years
Fixtures & Fittings Straight line method for 3 years
Computer Equipment Straight line method for 3 years
2.4. 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.
2.5. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 5,795 1,301 2,699 9,795
Additions - - 2,511 2,511
As at 31 December 2023 5,795 1,301 5,210 12,306
Depreciation
As at 1 January 2023 5,795 1,301 2,432 9,528
Provided during the period - - 755 755
As at 31 December 2023 5,795 1,301 3,187 10,283
Net Book Value
As at 31 December 2023 - - 2,023 2,023
As at 1 January 2023 - - 267 267
5. Stocks
2023 2022
£ £
Finished goods 15,000 15,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 389 -
Other debtors 37,533 64,527
37,922 64,527
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,898 4,378
Bank loans and overdrafts 10,000 12,900
Other creditors 1,064 6,546
Taxation and social security 5,335 4,700
20,297 28,524
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
At the balance sheet date the company was owed £34,145 (2022 - £49,145) by Peachtree Investments Ltd, a company in which Mr N O'Sullivan is also a director.
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