REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
PARAMEX DIGITAL LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
PARAMEX DIGITAL LIMITED |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PARAMEX DIGITAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Fulford House |
Newbold Terrace |
Leamington Spa |
Warwickshire |
CV32 4EA |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up and paid share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the director and authorised for issue on |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Paramex Digital Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Paramex Digital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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 |
Plant and machinery etc | - |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director and other creditors for a period of at least 12 months from the date of these financial statements. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives. |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Related party disclosures |
A related party transaction is defined as a transfer of resources, services or obligations between a |
reporting company and a related party, regardless of whether a price is charged. |
Related parties under FRS 102 are defined as a person or entity that is related to the entity that is |
preparing its financial statements as follows: |
A person or a close member of that person's family is related to a reporting entity if that person: |
- has joint control or joint control over the reporting entity; |
- has significant influence over the reporting entity; or |
- is a member of the key management personnel of the reporting entity or of a parent of the reporting |
entity. |
An entity is related to a reporting entity if any of the following conditions apply; |
- the entity and the reporting entity are members of the same group. |
- one entity is an associate or joint venture of the other entity. |
- both entities are joint ventures of the same third party. |
- one entity is a joint venture of third entity and the other entity is an associate of the third entity. |
- the entity is a post-employment benefit plan for the benefit of employees of either the reporting entity |
or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring |
employers are also related to the reporting entity. |
- the entity is controlled or jointly controlled by a person identified above. |
- a person identified above has significant influence over the entity or is a member of the |
management personnel of the entity. |
- the entity, or any member of a group of which it is a part, provides key management personnel |
services to the reporting entity or to the parent of the reporting entity. |
Key management is defined as those persons having authority and responsibility for planning, |
directing and controlling the activities of the entity, directly or indirectly including any director (whether |
executive or otherwise) of that entity. |
Significant influence is the power to participate in the operating and financial policy decisions of an |
entity; it is not control over those policies. Significant influence would assumed where a shareholder |
holds 20% or more of the voting rights of the entity. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 1,075 | 1,075 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |