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REGISTERED NUMBER: 02437928 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PARAGON PLATING LIMITED

PARAGON PLATING LIMITED (REGISTERED NUMBER: 02437928)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARAGON PLATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S Pratt
R Pratt
G Pratt





REGISTERED OFFICE: Unit E Daux Road Industrial Estate
Billingshurst
West Sussex
RH14 9SJ





REGISTERED NUMBER: 02437928 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

PARAGON PLATING LIMITED (REGISTERED NUMBER: 02437928)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,985 95,051
Investment property 5 320,000 320,000
411,985 415,051

CURRENT ASSETS
Stocks 105,428 91,437
Debtors 6 79,343 78,618
Cash in hand 101,701 110,510
286,472 280,565
CREDITORS
Amounts falling due within one year 7 40,545 68,207
NET CURRENT ASSETS 245,927 212,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

657,912

627,409

PROVISIONS FOR LIABILITIES 54,539 54,539
NET ASSETS 603,373 572,870

CAPITAL AND RESERVES
Called up share capital 8 400 400
Revaluation reserve 194,769 194,769
Capital redemption reserve 600 600
Retained earnings 407,604 377,101
SHAREHOLDERS' FUNDS 603,373 572,870

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 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.

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 24 January 2025 and were signed on its behalf by:



S Pratt - Director


PARAGON PLATING LIMITED (REGISTERED NUMBER: 02437928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Paragon Plating 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. 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.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Office equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 3 (2023 - 3 ) .

PARAGON PLATING LIMITED (REGISTERED NUMBER: 02437928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 May 2023 101,846 137,783 2,994 242,623
Additions - 2,179 - 2,179
At 30 April 2024 101,846 139,962 2,994 244,802
DEPRECIATION
At 1 May 2023 20,181 125,329 2,062 147,572
Charge for year 2,037 2,773 435 5,245
At 30 April 2024 22,218 128,102 2,497 152,817
NET BOOK VALUE
At 30 April 2024 79,628 11,860 497 91,985
At 30 April 2023 81,665 12,454 932 95,051

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 320,000
NET BOOK VALUE
At 30 April 2024 320,000
At 30 April 2023 320,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 218,154
Valuation in 2024 101,846
320,000

If investment property had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 101,846 101,846

Investment property was valued on an open market basis on 30 April 2023 by Crickmay Chartered Surveyors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 70,522 78,618
Other debtors 2,612 -
Prepayments 6,209 -
79,343 78,618

PARAGON PLATING LIMITED (REGISTERED NUMBER: 02437928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 7,967 32,203
Tax 9,286 16,663
Social security and other taxes 14,909 14,967
Other creditors 1,000 1,000
Accruals and deferred income 7,383 3,374
40,545 68,207

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
400 Ordinary £1 400 400