IRIS Accounts Production v24.3.0.553 03689253 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036892532022-12-31036892532023-12-31036892532023-01-012023-12-31036892532021-12-31036892532022-01-012022-12-31036892532022-12-3103689253ns15:EnglandWales2023-01-012023-12-3103689253ns14:PoundSterling2023-01-012023-12-3103689253ns10:Director12023-01-012023-12-3103689253ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103689253ns10:SmallEntities2023-01-012023-12-3103689253ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103689253ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103689253ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103689253ns10:FullAccounts2023-01-012023-12-3103689253ns10:CompanySecretary12023-01-012023-12-3103689253ns10:RegisteredOffice2023-01-012023-12-3103689253ns5:CurrentFinancialInstruments2023-12-3103689253ns5:CurrentFinancialInstruments2022-12-3103689253ns5:Non-currentFinancialInstruments2023-12-3103689253ns5:Non-currentFinancialInstruments2022-12-3103689253ns5:ShareCapital2023-12-3103689253ns5:ShareCapital2022-12-3103689253ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3103689253ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3103689253ns5:RetainedEarningsAccumulatedLosses2023-12-3103689253ns5:RetainedEarningsAccumulatedLosses2022-12-3103689253ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103689253ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3103689253ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3103689253ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3103689253ns5:Secured2023-12-3103689253ns5:Secured2022-12-3103689253ns5:DeferredTaxation2022-12-3103689253ns5:DeferredTaxation2023-12-3103689253ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: 03689253 (England and Wales)



















PARADINE SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PARADINE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr H Gardner





SECRETARY: Mrs C Gardner





REGISTERED OFFICE: 10 Green Lane
London
NW4 2NN





REGISTERED NUMBER: 03689253 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 2,500,000 2,500,000

CURRENT ASSETS
Debtors 6 529,299 448,519
Cash at bank 6,858 11,885
536,157 460,404
CREDITORS
Amounts falling due within one year 7 192,846 137,130
NET CURRENT ASSETS 343,311 323,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,843,311

2,823,274

CREDITORS
Amounts falling due after more than one
year

8

(55,208

)

(119,113

)

PROVISIONS FOR LIABILITIES 10 (394,778 ) (394,778 )
NET ASSETS 2,393,325 2,309,383

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 11 1,545,444 1,545,444
Retained earnings 847,871 763,929
2,393,325 2,309,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2024 and were signed by:





Mr H Gardner - Director


PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Paradine Services 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,500,000
NET BOOK VALUE
At 31 December 2023 2,500,000
At 31 December 2022 2,500,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's director who has the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 31 December 2023 is £559,778.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 529,299 448,519

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,894 14,149
Taxation and social security 50,040 53,483
Other creditors 127,912 69,498
192,846 137,130

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 55,208 119,113

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

30,564

78,830

PARADINE SERVICES LIMITED (REGISTERED NUMBER: 03689253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 70,102 133,262

The bank loan is secured by a legal charge over the company's investment property.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 394,778 394,778

Deferred
tax
£   
Balance at 1 January 2023 394,778
Balance at 31 December 2023 394,778

Deferred tax arises from the revaluation of investment properties.

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 1,545,444

12. RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £34,590 (2022: £34,590) due from a related company under common control.