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REGISTERED NUMBER: 11389842 (England and Wales)


















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: P Hands





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 11389842 (England and Wales)





ACCOUNTANTS: TGFP
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 4 628,216 762,710

CURRENT ASSETS
Debtors 5 419,262 278,055
Cash at bank 2,022 7,394
421,284 285,449
CREDITORS
Amounts falling due within one year 6 2,744,215 2,308,184
NET CURRENT LIABILITIES (2,322,931 ) (2,022,735 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,694,715

)

(1,260,025

)

CREDITORS
Amounts falling due after more than one
year

7

991,951

807,906
NET LIABILITIES (2,686,666 ) (2,067,931 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings (2,686,766 ) (2,068,031 )
(2,686,666 ) (2,067,931 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

PARAMEX DIGITAL LIMITED (REGISTERED NUMBER: 11389842)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





P Hands - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 5 (2023 - 5 ) .

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 1,323,231
Additions 74,912
At 31 May 2024 1,398,143
DEPRECIATION
At 1 June 2023 560,521
Charge for year 209,406
At 31 May 2024 769,927
NET BOOK VALUE
At 31 May 2024 628,216
At 31 May 2023 762,710

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,210 1,210
Amounts owed by participating interests 1,075 1,075
Other debtors 416,977 275,770
419,262 278,055

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 43,456 294,378
Trade creditors 3,271 13,444
Amounts owed to group undertakings 2,155,595 1,447,524
Taxation and social security 4,125 9,753
Other creditors 537,768 543,085
2,744,215 2,308,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 991,951 807,906