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Registered number: 7558524
Param Management Limited
Financial Statements
For The Year Ended 31 August 2024
Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mrs Ajanthy Thavarajah
Mr Paramanathar Thavarajah
Company Number 7558524
Registered Office 31 Severn Way
Bletchley
Milton Keynes
MK3 7QG
Business 2 HARRIER COURT
EAGLESTONE
MILTON KEYNES
MK6 5BZ
Accountants Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Page 1
Page 2
Balance Sheet
Registered number: 7558524
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 151,504 151,504
Tangible Assets 5 2,352 2,869
153,856 154,373
CURRENT ASSETS
Stocks 6 136,980 205,485
Debtors 7 5,561 5,200
Cash at bank and in hand 52,054 40,865
194,595 251,550
Creditors: Amounts Falling Due Within One Year 8 (42,795 ) (96,399 )
NET CURRENT ASSETS (LIABILITIES) 151,800 155,151
TOTAL ASSETS LESS CURRENT LIABILITIES 305,656 309,524
NET ASSETS 305,656 309,524
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 305,556 309,424
SHAREHOLDERS' FUNDS 305,656 309,524
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Ajanthy Thavarajah
Director
Mr Paramanathar Thavarajah
Director
14/11/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Param Management Limited Registered number 7558524 is a limited by shares company incorporated in England & Wales. The Registered Office is 31 Severn Way, Bletchley, Milton Keynes, MK3 7QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20@WDV
Computer Equipment 20@WDV
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 10)
11 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 151,504
As at 31 August 2024 151,504
Net Book Value
As at 31 August 2024 151,504
As at 1 September 2023 151,504
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 12,273 18,920 31,193
As at 31 August 2024 12,273 18,920 31,193
Depreciation
As at 1 September 2023 11,548 16,776 28,324
Provided during the period 131 386 517
As at 31 August 2024 11,679 17,162 28,841
Net Book Value
As at 31 August 2024 594 1,758 2,352
As at 1 September 2023 725 2,144 2,869
6. Stocks
2024 2023
£ £
Materials 136,980 205,485
7. Debtors
2024 2023
£ £
Due within one year
Paypoint Deposit 5,200 5,200
Other taxes and social security 361 -
5,561 5,200
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 36,483
Bank loans and overdrafts 10,097 26,107
Corporation tax 22,319 19,728
Other taxes and social security - 294
VAT 10,378 10,187
Other creditors - 3,600
42,795 96,399
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mrs Ajanthy Thavarajah 40,000 30,000
Mr Paramanathar Thavarajah 40,000 30,000
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 80,000 60,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr & Mrs Thavarajah by virtue of his ownership of 50% of the each issued share capital in the company.
Page 6