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REGISTERED NUMBER: 07527617 (England and Wales)















Paradigm Design Solutions Limited

Abridged Unaudited Financial Statements for the Year Ended 30 April 2024






Paradigm Design Solutions Limited (Registered number: 07527617)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Paradigm Design Solutions Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: G R Willis



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 07527617 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: HSBC Bank plc
6-8 Colliers Walk
Nailsea
North Somerset
BS48 1RH

Paradigm Design Solutions Limited (Registered number: 07527617)

Abridged Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 315 384
Tangible assets 6 47,187 3,892
47,502 4,276

CURRENT ASSETS
Stocks 40,465 29,985
Debtors 4,357 45,459
Cash at bank 32,270 45,925
77,092 121,369
CREDITORS
Amounts falling due within one year 18,082 42,034
NET CURRENT ASSETS 59,010 79,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,512

83,611

CREDITORS
Amounts falling due after more than one year (19,550 ) -

PROVISIONS FOR LIABILITIES (3,902 ) (663 )
NET ASSETS 83,060 82,948

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 82,960 82,848
SHAREHOLDERS' FUNDS 83,060 82,948

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.

Paradigm Design Solutions Limited (Registered number: 07527617)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 January 2025 and were signed by:





G R Willis - Director


Paradigm Design Solutions Limited (Registered number: 07527617)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Paradigm Design Solutions 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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Patents & trade marks
The costs relating to the Patents & Trade Marks are being written off over the individual assets' estimated useful life. The assets' estimated useful lives are looked at on an individual asset basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

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 statement of financial position date.


Paradigm Design Solutions Limited (Registered number: 07527617)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 2,577
AMORTISATION
At 1 May 2023 2,193
Amortisation for year 69
At 30 April 2024 2,262
NET BOOK VALUE

At 30 April 2024 315
At 30 April 2023 384

Paradigm Design Solutions Limited (Registered number: 07527617)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 42,204
Additions 59,963
At 30 April 2024 102,167
DEPRECIATION
At 1 May 2023 38,312
Charge for year 16,668
At 30 April 2024 54,980
NET BOOK VALUE
At 30 April 2024 47,187
At 30 April 2023 3,892

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 57,397
At 30 April 2024 57,397
DEPRECIATION
Charge for year 14,349
At 30 April 2024 14,349
NET BOOK VALUE
At 30 April 2024 43,048

7. SECURED DEBTS

The hire purchase is secured against the asset to which it relates.

8. ULTIMATE CONTROLLING PARTY

The controlling party is G R Willis.