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
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
Paradime Labs Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
6,154
11,696
Cash at bank and in hand
33,177
587,918
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)
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
Paradime Labs Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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.
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.
Paradime Labs Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Computer equipment
At 31 December 2023
21,066
At 31 December 2023
14,912
At 31 December 2022
11,696
Amounts falling due within one year
Accrued income and prepayments
320
927
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
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).