2023-06-01 07646137 2024-05-31 07646137 2023-06-01 2024-05-31 07646137 2023-05-31 07646137 2022-06-01 2023-05-31 07646137 uk-core:WithinOneYear 2023-05-31 07646137 uk-core:WithinOneYear 2024-05-31 07646137 uk-core:ShareCapital 2024-05-31 07646137 uk-core:ShareCapital 2023-05-31 07646137 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 07646137 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 07646137 uk-bus:Director1 2023-06-01 2024-05-31 07646137 uk-core:ToolsEquipment 2023-06-01 2024-05-31 07646137 uk-core:WithinOneYear 2024-05-31 07646137 uk-core:WithinOneYear 2023-05-31 iso4217:GBP xbrli:pure 07646137 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07646137 uk-bus:FRS102 2023-06-01 2024-05-31 07646137 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 07646137 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Paramount Electrical Ltd
Registered Number:07646137
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Paramount Electrical Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
07646137
As at 31 May 2024
Paramount Electrical Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
160
214
2
160
214
Current assets
Trade and other receivables
305
4,666
3
1,317
Cash and cash equivalents
-
4,666
1,622
Trade and other payables: amounts falling due within one
year
(4,066)
(4,711)
4
(2,444)
(45)
Net current liabilities
Total assets less current liabilities
115
(2,230)
115
Net assets/liabilities
(2,230)
Capital and reserves
Called up share capital
100
100
Retained earnings
15
(2,330)
115
(2,230)
Shareholders' funds
For the year ended 31 May 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 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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Steven George Livesey Director
These financial statements were approved and authorised for issue by the Board on 02 May 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
Paramount Electrical Ltd
Notes to the Financial Statements
Statutory Information
Paramount Electrical Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07646137.
Registered address:
5 Chigwell Road
London
E18 1LR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25 Straight line
Computer equipment
2. Property, plant and equipment
Computer
equipment
£
Cost or
valuation
At 01 June 2023
1,747
At 31 May 2024
1,747
Provision for depreciation and impairment
At 01 June 2023
1,533
Charge for year
54
At 31 May 2024
1,587
At 31 May 2024
Net book value
160
At 31 May 2023
214
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5
For the year ended 31 May 2024
Paramount Electrical Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2023
2024
£
£
Trade debtors
305
305
Other debtors
4,361
-
305
4,666
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
743
-
Trade creditors
-
1
Taxation and social security
2,701
1,085
Other creditors
1,267
2,980
4,711
4,066
5. Average number of persons employed
During the year the average number of employees was 0
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