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Company Registration No. 12342825 (England and Wales)
Paradime Labs Ltd Unaudited accounts for the year ended 31 December 2023
Paradime Labs Ltd Unaudited accounts Contents
Page
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Paradime Labs Ltd Company Information for the year ended 31 December 2023
Directors
Fabio Di Leta Kaustav Mitra
Secretary
OHS Secretaries Limited
Company Number
12342825 (England and Wales)
Registered Office
9th Floor 107 Cheapside London EC2V 6DN United Kingdom
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
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Paradime Labs Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,154 
11,696 
Current assets
Debtors
5,234 
25,888 
Cash at bank and in hand
33,177 
587,918 
38,411 
613,806 
Creditors: amounts falling due within one year
(27,657)
(35,859)
Net current assets
10,754 
577,947 
Total assets less current liabilities
16,908 
589,643 
Creditors: amounts falling due after more than one year
(2,195,941)
(2,095,576)
Net liabilities
(2,179,033)
(1,505,933)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
(2,179,036)
(1,505,936)
Shareholders' funds
(2,179,033)
(1,505,933)
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 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 26 September 2024 and were signed on its behalf by
Kaustav Mitra Director Company Registration No. 12342825
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Paradime Labs Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Paradime Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 12342825. The registered office is 9th Floor 107 Cheapside, London, EC2V 6DN, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
Foreign exchange
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Paradime Labs Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
20,063 
Additions
1,003 
At 31 December 2023
21,066 
Depreciation
At 1 January 2023
8,367 
Charge for the year
6,545 
At 31 December 2023
14,912 
Net book value
At 31 December 2023
6,154 
At 31 December 2022
11,696 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,914 
24,961 
Accrued income and prepayments
320 
927 
5,234 
25,888 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
24,051 
30,882 
Other creditors
3,222 
4,593 
Loans from directors
384 
384 
27,657 
35,859 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
2,195,941 
2,095,576 
8
Transactions with related parties
Paradime Labs Inc is the Parent company in United States of America. At the balance sheet date, the amount due to Paradime Labs Inc was £2,195,941 (2022: £2,095,576).
9
Average number of employees
During the year the average number of employees was 9 (2022: 10).
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