Registered number
10684666
Thai Paragon Property Ltd
Filleted Accounts
31 March 2024
Thai Paragon Property Ltd
Registered number: 10684666
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 345,000 345,000
Current assets
Debtors 4 - 536
Cash at bank and in hand 1,441 1,836
1,441 2,372
Creditors: amounts falling due within one year 5 (135,265) (135,513)
Net current liabilities (133,824) (133,141)
Total assets less current liabilities 211,176 211,859
Creditors: amounts falling due after more than one year 6 (156,781) (166,785)
Net assets 54,395 45,074
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,295 44,974
Shareholders' funds 54,395 45,074
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Sahawat Pangwipas
Director
Approved by the board on 17 September 2024
Thai Paragon Property Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings no depreciation
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 345,000
At 31 March 2024 345,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 345,000
At 31 March 2023 345,000
4 Debtors 2024 2023
£ £
Other debtors - 536
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,376 13,376
Taxation and social security costs 2,329 2,463
Other creditors 119,560 119,674
135,265 135,513
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 156,781 166,785
7 Related party transactions 2024 2023
Directors loan account £ £
The directors are related parties to the company
At 31st March, the company owed the related parties
the following interest free, unsecured amounts:
Amounts due to the related parties 118,648 118,674
8 Controlling party
The directors are the ultimate controlling parties by virtue of their 100% ownership of the issued share capital of the company
9 Other information
Thai Paragon Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
474 Warrington Road
Culcheth
Warrington
WA3 5QX
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