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REGISTERED NUMBER: SC388750 (Scotland)















Unaudited Financial Statements for the Year Ended 30th November 2023

for

Paragon (Scotland) Limited

Paragon (Scotland) Limited (Registered number: SC388750)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paragon (Scotland) Limited

Company Information
for the Year Ended 30th November 2023







DIRECTORS: Mrs A Smith
P B Smith
Ms F Bogdan





REGISTERED OFFICE: Duneira Pier Road
Rhu
Helensburgh
G84 8LH





REGISTERED NUMBER: SC388750 (Scotland)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Paragon (Scotland) Limited (Registered number: SC388750)

Balance Sheet
30th November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 812,767 10,223

CURRENT ASSETS
Debtors 5 2,161,967 2,535,222
Cash at bank 153,624 9,317
2,315,591 2,544,539
CREDITORS
Amounts falling due within one year 6 (1,376,820 ) (1,052,459 )
NET CURRENT ASSETS 938,771 1,492,080
TOTAL ASSETS LESS CURRENT LIABILITIES 1,751,538 1,502,303

CREDITORS
Amounts falling due after more than one
year

7

(15,000

)

(28,639

)
NET ASSETS 1,736,538 1,473,664

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 1,736,438 1,473,564
1,736,538 1,473,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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.

Paragon (Scotland) Limited (Registered number: SC388750)

Balance Sheet - continued
30th November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





Mrs A Smith - Director


Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Paragon (Scotland) Limited 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 as modified by the revaluation of certain assets.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 50% on cost and 20% on reducing balance

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.

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 58 (2022 - 92 ) .

Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st December 2022 - 20,448 20,448
Additions 800,665 13,573 814,238
At 30th November 2023 800,665 34,021 834,686
DEPRECIATION
At 1st December 2022 - 10,225 10,225
Charge for year - 11,694 11,694
At 30th November 2023 - 21,919 21,919
NET BOOK VALUE
At 30th November 2023 800,665 12,102 812,767
At 30th November 2022 - 10,223 10,223

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,075,711 2,468,992
Other debtors 75,341 -
Directors' current accounts - 56,980
Prepayments 10,915 9,250
2,161,967 2,535,222

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 8,597
Trade creditors 90,873 25,762
Tax 77,829 271,636
Social security and other taxes 66,989 66,995
Pensions 8,280 -
VAT 59,279 666,779
Other creditors 946,421 8,790
Directors' current accounts 108,809 -
Accrued expenses 8,340 3,900
1,376,820 1,052,459

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,000 28,639

Paragon (Scotland) Limited (Registered number: SC388750)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

8. RESERVES
Retained
earnings
£   

At 1st December 2022 1,473,564
Profit for the year 262,874
At 30th November 2023 1,736,438

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th November 2023 and 30th November 2022:

2023 2022
£    £   
Mrs A Smith
Balance outstanding at start of year (28,490 ) 77,536
Amounts advanced 83,057 673,588
Amounts repaid (163 ) (779,614 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,404 (28,490 )

P B Smith
Balance outstanding at start of year (28,490 ) 77,536
Amounts advanced 83,057 673,588
Amounts repaid (163 ) (779,614 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,404 (28,490 )