Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseMotion picture production activities55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10499391 2023-04-01 2024-03-31 10499391 2022-04-01 2023-03-31 10499391 2024-03-31 10499391 2023-03-31 10499391 2022-04-01 10499391 c:Director2 2023-04-01 2024-03-31 10499391 d:PlantMachinery 2023-04-01 2024-03-31 10499391 d:PlantMachinery 2024-03-31 10499391 d:PlantMachinery 2023-03-31 10499391 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10499391 d:MotorVehicles 2023-04-01 2024-03-31 10499391 d:MotorVehicles 2024-03-31 10499391 d:MotorVehicles 2023-03-31 10499391 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10499391 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10499391 d:CurrentFinancialInstruments 2024-03-31 10499391 d:CurrentFinancialInstruments 2023-03-31 10499391 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10499391 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10499391 d:ShareCapital 2024-03-31 10499391 d:ShareCapital 2023-03-31 10499391 d:RetainedEarningsAccumulatedLosses 2024-03-31 10499391 d:RetainedEarningsAccumulatedLosses 2023-03-31 10499391 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10499391 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10499391 c:FRS102 2023-04-01 2024-03-31 10499391 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10499391 c:FullAccounts 2023-04-01 2024-03-31 10499391 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10499391 6 2023-04-01 2024-03-31 10499391 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10499391










PARAMEX VENTURES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
PARAMEX VENTURES LIMITED
REGISTERED NUMBER: 10499391

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
5,187

Investments
 5 
4,201,101
4,201,101

  
4,201,101
4,206,288

Current assets
  

Debtors: amounts falling due within one year
 6 
54,532
215,931

Cash at bank and in hand
  
8,594
9,813

  
63,126
225,744

Creditors: amounts falling due within one year
 7 
(4,985)
(231,353)

Net current assets/(liabilities)
  
 
 
58,141
 
 
(5,609)

Total assets less current liabilities
  
4,259,242
4,200,679

  

Net assets
  
4,259,242
4,200,679


Capital and reserves
  

Called up share capital 
  
4,200,500
4,200,500

Profit and loss account
  
58,742
179

  
4,259,242
4,200,679


Page 1

 
PARAMEX VENTURES LIMITED
REGISTERED NUMBER: 10499391
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.




P J Beckett
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PARAMEX VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Paramex Ventures Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 10499391). Its registered office is Unit B4 West 12 Studios, 2a Askew Crescent, London, W12 9DP. The principal activity of the Company throughout the year continued to be that of motion picture production activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company's functional and presentational currency is GBP.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Plant and machinery
-
33%
straight line
Motor vehicles
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
PARAMEX VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties, and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings. 

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 4

 
PARAMEX VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£





At 1 April 2023
203,000
31,000
234,000


Transfers intra group
(186,000)
(31,000)
(217,000)


Disposals
(17,000)
-
(17,000)



At 31 March 2024

-
-
-





At 1 April 2023
203,000
25,813
228,813


Charge for the year on owned assets
-
5,187
5,187


Transfers intra group
(186,000)
(31,000)
(217,000)


Disposals
(17,000)
-
(17,000)



At 31 March 2024

-
-
-



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
5,187
5,187


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
4,201,101



At 31 March 2024
4,201,101




Page 5

 
PARAMEX VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
54,513
183,125

Other debtors
19
257

Deferred taxation
-
32,549

54,532
215,931



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
479

Amounts owed to group undertakings
4,985
155,874

Other creditors
-
75,000

4,985
231,353



8.


Deferred taxation




2024
2023


£

£






At beginning of year
32,549
25,957


Charged to profit or loss
(32,549)
6,592



At end of year
-
32,549

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
32,549

 
Page 6