Registered number
03037875
Embarba Paragon Lifts Limited
Unaudited Filleted Accounts
31 August 2024
Embarba Paragon Lifts Limited
Registered number: 03037875
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,105 35,000
Current assets
Stocks 5,000 5,000
Debtors 4 164,204 183,020
Cash at bank and in hand 24,198 99,450
193,402 287,470
Creditors: amounts falling due within one year 5 (60,955) (98,174)
Net current assets 132,447 189,296
Total assets less current liabilities 164,552 224,296
Creditors: amounts falling due after more than one year 6 (678,922) (687,902)
Net liabilities (514,370) (463,606)
Capital and reserves
Called up share capital 100 100
Profit and loss account (514,470) (463,706)
Shareholder's funds (514,370) (463,606)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Bautista Ramirez
Director
Approved by the board on 29 April 2025
Embarba Paragon Lifts Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The financial statements are prepared on the going concern basis, which relies upon the continued support of associated companies.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% on a reducing balance basis
Computers 33% on a straight line basis
Fixtures, fittings, tools and equipment 15% on a straight line basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 8,497 72,737 81,234
Additions - 17,579 17,579
Disposals - (23,119) (23,119)
At 31 August 2024 8,497 67,197 75,694
Depreciation
At 1 September 2023 8,497 37,737 46,234
Charge for the year - 10,374 10,374
On disposals - (13,019) (13,019)
At 31 August 2024 8,497 35,092 43,589
Net book value
At 31 August 2024 - 32,105 32,105
At 31 August 2023 - 35,000 35,000
4 Debtors 2024 2023
£ £
Trade debtors 156,700 181,814
Other debtors 7,504 1,206
164,204 183,020
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,178 3,758
Taxation and social security costs 6,985 19,448
Other creditors 40,792 74,968
60,955 98,174
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 678,922 687,902
7 Other information
Embarba Paragon Lifts Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Waterside Business Park
Wheelhouse Road
Rugeley
WS15 1LJ
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