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REGISTERED NUMBER: SC340918 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

PARAGON POWER SERVICES LIMITED

PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARAGON POWER SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: A McWhirter



REGISTERED OFFICE: 29 James Watt Place
East Kilbride
Glasgow
G74 5HG



REGISTERED NUMBER: SC340918 (Scotland)



ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: The Royal Bank of Scotland plc
East Kilbride Branch
24/25 Princes Square
East Kilbride
G74 1LJ

PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,002,891 1,437,442

CURRENT ASSETS
Stocks 57,254 109,044
Debtors 5 574,906 475,581
Cash at bank and in hand 370,547 260,187
1,002,707 844,812
CREDITORS
Amounts falling due within one year 6 538,607 392,580
NET CURRENT ASSETS 464,100 452,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,466,991

1,889,674

CREDITORS
Amounts falling due after more than one
year

7

(531,782

)

(411,518

)

PROVISIONS FOR LIABILITIES (440,282 ) (231,405 )
NET ASSETS 1,494,927 1,246,751

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,493,927 1,245,751
SHAREHOLDERS' FUNDS 1,494,927 1,246,751

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)

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

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





A McWhirter - Director


PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Paragon Power Services 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.

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.
Plant and machinery - 20% on a reducing balance basis
Computer equipment - 33% on a straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023 3,057,687 12,785 3,070,472
Additions 1,081,466 - 1,081,466
Disposals (37,882 ) - (37,882 )
At 30 April 2024 4,101,271 12,785 4,114,056
DEPRECIATION
At 1 May 2023 1,620,818 12,212 1,633,030
Charge for year 500,723 573 501,296
Eliminated on disposal (23,161 ) - (23,161 )
At 30 April 2024 2,098,380 12,785 2,111,165
NET BOOK VALUE
At 30 April 2024 2,002,891 - 2,002,891
At 30 April 2023 1,436,869 573 1,437,442

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 469,656 369,466
Amounts owed by group undertakings 103,693 103,693
Other debtors 1,557 2,422
574,906 475,581

PARAGON POWER SERVICES LIMITED (REGISTERED NUMBER: SC340918)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 265,475 138,474
Trade creditors 60,511 110,178
Taxation and social security 86,128 51,415
Other creditors 116,493 82,513
538,607 392,580

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,833 20,833
Hire purchase contracts 382,739 186,134
Other creditors 138,210 204,551
531,782 411,518