IRIS Accounts Production v24.2.0.383 SC388336 director 1.2.23 31.1.24 31.1.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3883362023-01-31SC3883362024-01-31SC3883362023-02-012024-01-31SC3883362022-01-31SC3883362022-02-012023-01-31SC3883362023-01-31SC388336ns15:Scotland2023-02-012024-01-31SC388336ns14:PoundSterling2023-02-012024-01-31SC388336ns10:Director12023-02-012024-01-31SC388336ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC388336ns10:SmallEntities2023-02-012024-01-31SC388336ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC388336ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC388336ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC388336ns10:FullAccounts2023-02-012024-01-31SC38833612023-02-012024-01-31SC388336ns10:OrdinaryShareClass12023-02-012024-01-31SC388336ns10:CompanySecretary12023-02-012024-01-31SC388336ns10:RegisteredOffice2023-02-012024-01-31SC388336ns5:CurrentFinancialInstruments2024-01-31SC388336ns5:CurrentFinancialInstruments2023-01-31SC388336ns5:Non-currentFinancialInstruments2024-01-31SC388336ns5:Non-currentFinancialInstruments2023-01-31SC388336ns5:ShareCapital2024-01-31SC388336ns5:ShareCapital2023-01-31SC388336ns5:RetainedEarningsAccumulatedLosses2024-01-31SC388336ns5:RetainedEarningsAccumulatedLosses2023-01-31SC388336ns5:NetGoodwill2023-02-012024-01-31SC388336ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31SC388336ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-012024-01-31SC388336ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-012024-01-31SC388336ns5:PlantMachinery2023-02-012024-01-31SC388336ns5:FurnitureFittings2023-02-012024-01-31SC388336ns5:ComputerEquipment2023-02-012024-01-31SC388336ns5:NetGoodwill2023-01-31SC388336ns5:NetGoodwill2024-01-31SC388336ns5:NetGoodwill2023-01-31SC388336ns5:LandBuildingsns5:ShortLeaseholdAssets2023-01-31SC388336ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-31SC388336ns5:PlantMachinery2023-01-31SC388336ns5:LandBuildingsns5:ShortLeaseholdAssets2024-01-31SC388336ns5:LongLeaseholdAssetsns5:LandBuildings2024-01-31SC388336ns5:PlantMachinery2024-01-31SC388336ns5:LandBuildingsns5:ShortLeaseholdAssets2023-01-31SC388336ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-31SC388336ns5:PlantMachinery2023-01-31SC388336ns5:FurnitureFittings2023-01-31SC388336ns5:ComputerEquipment2023-01-31SC388336ns5:FurnitureFittings2024-01-31SC388336ns5:ComputerEquipment2024-01-31SC388336ns5:FurnitureFittings2023-01-31SC388336ns5:ComputerEquipment2023-01-31SC388336ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31SC388336ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-31SC388336ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-31SC388336ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-31SC388336ns5:DeferredTaxation2023-01-31SC388336ns5:DeferredTaxation2023-02-012024-01-31SC388336ns5:DeferredTaxation2024-01-31SC388336ns10:OrdinaryShareClass12024-01-31SC3883361ns10:Director12023-01-31SC3883361ns10:Director12022-01-31SC3883361ns10:Director12023-02-012024-01-31SC3883361ns10:Director12022-02-012023-01-31SC3883361ns10:Director12024-01-31SC3883361ns10:Director12023-01-31
REGISTERED NUMBER: SC388336 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Paratian Co Ltd

Paratian Co Ltd (Registered number: SC388336)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paratian Co Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Dr D S Paratian





SECRETARY: Mrs M C Veerasawmy-Paratian





REGISTERED OFFICE: c/o Stockbridge Dental Practice
9 Dean Bank Lane
Edinburgh
EH3 5BS





REGISTERED NUMBER: SC388336 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

Paratian Co Ltd (Registered number: SC388336)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 87,000 99,000
Tangible assets 5 188,167 180,803
275,167 279,803

CURRENT ASSETS
Stocks 9,230 16,700
Debtors 6 109,902 55,364
Cash at bank and in hand 2,643 7,895
121,775 79,959
CREDITORS
Amounts falling due within one year 7 155,717 115,945
NET CURRENT LIABILITIES (33,942 ) (35,986 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,225

243,817

CREDITORS
Amounts falling due after more than one
year

8

(32,875

)

(45,205

)

PROVISIONS FOR LIABILITIES 10 (35,091 ) (26,410 )
NET ASSETS 173,259 172,202

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 173,159 172,102
SHAREHOLDERS' FUNDS 173,259 172,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Paratian Co Ltd (Registered number: SC388336)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





Dr D S Paratian - Director


Paratian Co Ltd (Registered number: SC388336)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Paratian Co Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 4% on cost
Integral features - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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
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.

Paratian Co Ltd (Registered number: SC388336)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 240,000
AMORTISATION
At 1 February 2023 141,000
Amortisation for year 12,000
At 31 January 2024 153,000
NET BOOK VALUE
At 31 January 2024 87,000
At 31 January 2023 99,000

5. TANGIBLE FIXED ASSETS
Leasehold Integral Plant and
improvements features machinery
£    £    £   
COST
At 1 February 2023 73,621 33,847 382,978
Additions 9,750 - 29,259
At 31 January 2024 83,371 33,847 412,237
DEPRECIATION
At 1 February 2023 34,347 33,298 275,050
Charge for year 3,335 56 27,438
At 31 January 2024 37,682 33,354 302,488
NET BOOK VALUE
At 31 January 2024 45,689 493 109,749
At 31 January 2023 39,274 549 107,928

Paratian Co Ltd (Registered number: SC388336)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 48,923 59,763 599,132
Additions 2,419 4,249 45,677
At 31 January 2024 51,342 64,012 644,809
DEPRECIATION
At 1 February 2023 38,600 37,034 418,329
Charge for year 2,089 5,395 38,313
At 31 January 2024 40,689 42,429 456,642
NET BOOK VALUE
At 31 January 2024 10,653 21,583 188,167
At 31 January 2023 10,323 22,729 180,803

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 6,711 12,460
Other debtors - 883
Directors' current accounts 103,191 42,021
109,902 55,364

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 9) 48,842 19,828
Hire purchase contracts 16,547 11,484
Trade creditors 10,912 10,369
Tax 51,194 41,209
Social security and other taxes - 5,802
Pension payable 1,135 854
Credit card control 30 2,105
Accrued expenses 27,057 24,294
155,717 115,945

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 9) 14,310 30,518
Hire purchase contracts 18,565 14,687
32,875 45,205

Paratian Co Ltd (Registered number: SC388336)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 48,842 19,828

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,310 30,518

10. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 35,091 26,410

Deferred
tax
£   
Balance at 1 February 2023 26,410
Provided during year 8,681
Balance at 31 January 2024 35,091

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Dr D S Paratian
Balance outstanding at start of year (42,021 ) -
Amounts advanced 173,421 185,513
Amounts repaid (234,591 ) (227,534 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (103,191 ) (42,021 )

Interest has been charged at the average rate of 2.25%. The loan was repaid shortly after the year end.