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Registered Number: SC526470
Scotland

 

 

 

PARADIGM ABERDEEN LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Kirk Matthew Harrison
Registered Number SC526470
Registered Office Templars House
South Deeside Road
Aberdeen
Aberdeen
AB12 5GB
Accountants Davidson Accounting
Templars House
South Deeside Road
Aberdeen
AB12 5GB
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024.
Principal activities
Principal activity of the company during the financial year was property development
Director
The director who served the company throughout the year was as follows:
Kirk Matthew Harrison
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Kirk Matthew Harrison
Director

Date approved: 29 November 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 29 February 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Davidson Accounting
29 February 2024



....................................................

Davidson Accounting

Templars House
South Deeside Road
Aberdeen
AB12 5GB
29 November 2024
3
 
 
Notes
 
2024
£
  2023
£
Turnover 346    100 
Cost of sales   139,098 
Gross profit 346    139,198 
Administrative expenses (1,528)   (6,025)
Operating profit/(loss) (1,182)   133,173 
Interest payable and similar charges   (1)
Profit/(Loss) on ordinary activities before taxation (1,182)   133,172 
Tax on profit on ordinary activities   (9,358)
Profit/(Loss) for the financial year (1,182)   123,814 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 550,000    550,000 
550,000    550,000 
Current assets      
Debtors 4 306,221    225,521 
Cash at bank and in hand 249    82,131 
306,470    307,652 
Creditors: amount falling due within one year 5 (1,230)   (1,229)
Net current assets 305,240    306,423 
 
Total assets less current liabilities 855,240    856,423 
Creditors: amount falling due after more than one year 6 (561,715)   (561,715)
Net assets 293,525    294,708 
 

Capital and reserves
     
Reserves 7 193,040    193,040 
Profit and loss account 100,485    101,668 
Shareholders' funds 293,525    294,708 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 29 November 2024 and were signed by:


-------------------------------
Kirk Matthew Harrison
Director
5
  Revaluation reserve   Retained Earnings   Total
£ £ £
At 01 March 2022 193,040  (22,146) 170,894 
Profit for the year 123,814  123,814 
Total comprehensive income for the year 123,814  123,814 
Total investments by and distributions to owners
At 28 February 2023 193,040  101,668  294,708 
At 01 March 2023 193,040  101,667  294,707 
Profit for the year (1,182) (1,182)
Total comprehensive income for the year (1,182) (1,182)
Total investments by and distributions to owners
At 29 February 2024 193,040  100,485  293,525 
6
General Information
Paradigm Aberdeen LTD is a private company, limited by shares, registered in Scotland, registration number SC526470, registration address Templars House, South Deeside Road, Aberdeen, Aberdeen, AB12 5GB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 March 2023 356,960    356,960 
Additions  
Disposals  
Revaluations 193,040    193,040 
At 29 February 2024 550,000    550,000 
Depreciation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
Closing balance as at 29 February 2024 550,000    550,000 
Opening balance as at 01 March 2023 550,000    550,000 


4.

Debtors: amounts falling due after one year

2024
£
  2023
£
KHK Developments 337,100    258,700 
60 Rubislaw Square 26,800    24,500 
Directors Loan Accounts (57,679)   (57,679)
306,221    225,521 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,230    1,230 
Other Creditors   (1)
1,230    1,229 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Duncan Kerr 95,000    95,000 
Polmuir Gardens 45,535    45,535 
46 Queens Highlands 47,760    47,760 
16 Rubislaw 48,320    48,320 
46 Shawbank Road 20,100    20,100 
33 Queens Highlands 305,000    305,000 
561,715    561,715 

7.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 193,040    193,040 
193,040    193,040 

7