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Registration number: 02272451

Paragon House (Blackheath) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Paragon House (Blackheath) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Paragon House (Blackheath) Limited

Company Information

Directors

Sarah Payne

John Payne

Kate Sargeant

Registered office

7 Hare and Billet Road
Blackheath
London
SE3 0RB

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Paragon House (Blackheath) Limited

(Registration number: 02272451)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

-

300,000

Current assets

 

Debtors

6

234,960

14,423

Cash at bank and in hand

 

259,571

166,997

 

494,531

181,420

Creditors: Amounts falling due within one year

7

(37,680)

(25,040)

Net current assets

 

456,851

156,380

Total assets less current liabilities

 

456,851

456,380

Provisions for liabilities

-

(64,162)

Net assets

 

456,851

392,218

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

455,851

391,218

Shareholders' funds

 

456,851

392,218

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 March 2025 and signed on its behalf by:
 

 

Paragon House (Blackheath) Limited

(Registration number: 02272451)
Balance Sheet as at 30 June 2024

.........................................
John Payne
Director

 

Paragon House (Blackheath) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Hare and Billet Road
Blackheath
London
SE3 0RB

These financial statements were authorised for issue by the Board on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and service charge income is recognised on a pro rata basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Paragon House (Blackheath) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Paragon House (Blackheath) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

36,480

6,777

UK corporation tax adjustment to prior periods

154

-

36,634

6,777

Deferred taxation

Arising from origination and reversal of timing differences

(64,162)

13,162

Tax (receipt)/expense in the income statement

(27,528)

19,939

5

Investment properties

2024
£

At 1 July

300,000

Disposals

(300,000)

At 30 June

-

There has been no valuation of investment property by an independent valuer.

6

Debtors

2024
£

2023
£

Other debtors

234,960

14,423

234,960

14,423

 

Paragon House (Blackheath) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

36,480

6,777

Accruals and deferred income

1,200

7,175

Other creditors

-

11,088

37,680

25,040

8

Deferred tax and other provisions

Deferred tax
£

Total
£

At 1 July 2023

64,162

64,162

Unused provision reversed

(64,162)

(64,162)

At 30 June 2024

-

-

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

10

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £Nil) per ordinary share

-

-

 

 
 

Paragon House (Blackheath) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

11

Related party transactions

Summary of transactions with other related parties


John Payne
(Director)

There were no transactions between the director and the company during the year.