Company Registration No. 10317392 (England and Wales)
Paronga Ltd
Unaudited accounts
for the year ended 31 August 2024
Paronga Ltd
Unaudited accounts
Contents
Paronga Ltd
Company Information
for the year ended 31 August 2024
Directors
L Pettis
T Pettis
Company Number
10317392 (England and Wales)
Registered Office
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Accountants
Clayton Stirling
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Paronga Ltd
Statement of financial position
as at 31 August 2024
Cash at bank and in hand
3
2,081
Creditors: amounts falling due within one year
(7,806)
(5,137)
Net current liabilities
(7,803)
(1,816)
Net (liabilities)/assets
(7,803)
246
Called up share capital
100
100
Profit and loss account
(7,903)
146
Shareholders' funds
(7,803)
246
For the year ending 31 August 2024 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 7 October 2024 and were signed on its behalf by
T Pettis
Director
Company Registration No. 10317392
Paronga Ltd
Notes to the Accounts
for the year ended 31 August 2024
Paronga Ltd is a private company, limited by shares, registered in England and Wales, registration number 10317392. The registered office is 123 Cross Lane East, Gravesend, Kent, DA12 5HA.
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
25% Reducing Balance
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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.
Paronga Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
7,806
4,852
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).