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REGISTERED NUMBER: 03902901 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JANUARY 2024

FOR

PARAMEX LIMITED

PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PARAMEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JANUARY 2024







DIRECTORS: A J C H Yates
P Hands





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 03902901 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

STATEMENT OF FINANCIAL POSITION
30 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,600 32,646
Investments 5 51 51
26,651 32,697

CURRENT ASSETS
Debtors 6 2,942,513 3,230,558
Cash at bank 475,507 72,592
3,418,020 3,303,150
CREDITORS
Amounts falling due within one year 7 2,625,522 2,545,488
NET CURRENT ASSETS 792,498 757,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

819,149

790,359

CAPITAL AND RESERVES
Called up and paid share capital 779 779
Capital redemption reserve 319 319
Retained earnings 818,051 789,261
SHAREHOLDERS' FUNDS 819,149 790,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

STATEMENT OF FINANCIAL POSITION - continued
30 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




P Hands - Director



A J C H Yates - Director


PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024


1. STATUTORY INFORMATION

Paramex Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Paramex Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.


PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 7 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 January 2023 223,175
Additions 790
At 30 January 2024 223,965
DEPRECIATION
At 31 January 2023 190,529
Charge for year 6,836
At 30 January 2024 197,365
NET BOOK VALUE
At 30 January 2024 26,600
At 30 January 2023 32,646

PARAMEX LIMITED (REGISTERED NUMBER: 03902901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 31 January 2023
and 30 January 2024 51
NET BOOK VALUE
At 30 January 2024 51
At 30 January 2023 51

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 601,760 841,549
Amounts owed by group undertakings 1,924,094 1,166,505
Amounts owed by associates 30,114 156
Other debtors 386,545 1,222,348
2,942,513 3,230,558

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11 -
Trade creditors 140,505 207,344
Amounts owed to associates 2,265,390 2,119,606
Taxation and social security 216,291 214,913
Other creditors 3,325 3,625
2,625,522 2,545,488

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £nil (2023 - £982,041) and amounts repaid during the year were £982,041 (2023- £171,688). At the year end the amount owing to the company was £nil (2023 - £982,041).

9. RELATED PARTY DISCLOSURES

Included in amounts owed to associates is £2,265,390 (2023: £2,119,606) owing to companies in which the director has an interest.

Included in amounts owed by associates is £1,954,208 (2023: £1,166,661 owing from companies in which the director has an interest.