IRIS Accounts Production v24.3.2.46 02826589 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028265892023-09-30028265892024-09-30028265892023-10-012024-09-30028265892022-09-30028265892022-10-012023-09-30028265892023-09-3002826589ns15:EnglandWales2023-10-012024-09-3002826589ns14:PoundSterling2023-10-012024-09-3002826589ns10:Director12023-10-012024-09-3002826589ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3002826589ns10:SmallEntities2023-10-012024-09-3002826589ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3002826589ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3002826589ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3002826589ns10:FullAccounts2023-10-012024-09-3002826589ns10:OrdinaryShareClass12023-10-012024-09-3002826589ns10:Director22023-10-012024-09-3002826589ns10:CompanySecretary12023-10-012024-09-3002826589ns10:RegisteredOffice2023-10-012024-09-3002826589ns5:CurrentFinancialInstruments2024-09-3002826589ns5:CurrentFinancialInstruments2023-09-3002826589ns5:ShareCapital2024-09-3002826589ns5:ShareCapital2023-09-3002826589ns5:RetainedEarningsAccumulatedLosses2024-09-3002826589ns5:RetainedEarningsAccumulatedLosses2023-09-3002826589ns5:FurnitureFittings2023-10-012024-09-3002826589ns5:FurnitureFittings2023-09-3002826589ns5:FurnitureFittings2024-09-3002826589ns5:FurnitureFittings2023-09-3002826589ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3002826589ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3002826589ns5:WithinOneYear2024-09-3002826589ns5:WithinOneYear2023-09-3002826589ns5:BetweenOneFiveYears2024-09-3002826589ns5:BetweenOneFiveYears2023-09-3002826589ns5:AllPeriods2024-09-3002826589ns5:AllPeriods2023-09-3002826589ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 02826589 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PARAMOUNT LETTINGS LIMITED

PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARAMOUNT LETTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr M J Greig
Mr S Lawrence





SECRETARY: Mr R R Pathman





REGISTERED OFFICE: 150 West End Lane
London
NW6 1SD





REGISTERED NUMBER: 02826589 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,816 29,945

CURRENT ASSETS
Debtors 5 414,133 622,380
Cash at bank and in hand 603,432 567,888
1,017,565 1,190,268
CREDITORS
Amounts falling due within one year 6 (472,690 ) (639,766 )
NET CURRENT ASSETS 544,875 550,502
TOTAL ASSETS LESS CURRENT LIABILITIES 584,691 580,447

CAPITAL AND RESERVES
Called up share capital 8 30 30
Retained earnings 584,661 580,417
SHAREHOLDERS' FUNDS 584,691 580,447

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

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

PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





Mr S Lawrence - Director


PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

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


1. STATUTORY INFORMATION

Paramount Lettings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 150 West End lane, London, NW6 1SD.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Turnover
Turnover represents amounts receivable for services net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on cost

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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.


PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023 232,359
Additions 26,206
At 30 September 2024 258,565
DEPRECIATION
At 1 October 2023 202,414
Charge for year 16,335
At 30 September 2024 218,749
NET BOOK VALUE
At 30 September 2024 39,816
At 30 September 2023 29,945

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 338,377 472,163
Other debtors 75,756 150,217
414,133 622,380

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 36,596 140,166
Taxation and social security 361,918 427,834
Other creditors 74,176 71,766
472,690 639,766

PARAMOUNT LETTINGS LIMITED (REGISTERED NUMBER: 02826589)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 20,061 3,354
Between one and five years 44,553 3,354
64,614 6,708

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
30 Ordinary £1 30 30