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Registration number: 08315219

Paradigm Shift Training Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Paradigm Shift Training Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

Paradigm Shift Training Ltd

(Registration number: 08315219)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

45,500

45,934

Current assets

 

Stocks

306

105

Debtors

5

1,000

1,000

Cash at bank and in hand

 

7,974

12,658

 

9,280

13,763

Creditors: Amounts falling due within one year

6

(49,965)

(52,300)

Net current liabilities

 

(40,685)

(38,537)

Net assets

 

4,815

7,397

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,715

7,297

Shareholders' funds

 

4,815

7,397

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 17 April 2025
 

.........................................
Mr A P Townsend
Director

 

Paradigm Shift Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
13 Cooper Lane
Halifax
West Yorkshire
HX3 7RD

These financial statements were authorised for issue by the director on 17 April 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings and equipments

15% on RB & 33.33% on Cost

Short Lease Hold Premises

2% on Cost

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Paradigm Shift Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

29,801

54,564

2,863

87,228

Additions

-

3,330

-

3,330

At 31 December 2024

29,801

57,894

2,863

90,558

Depreciation

At 1 January 2024

4,234

34,330

2,730

41,294

Charge for the year

596

3,035

133

3,764

At 31 December 2024

4,830

37,365

2,863

45,058

Carrying amount

At 31 December 2024

24,971

20,529

-

45,500

At 31 December 2023

25,567

20,234

133

45,934

Included within the net book value of land and buildings above is £24,971 (2023 - £25,567) in respect of short leasehold land and buildings.
 

5

Debtors

2024
£

2023
£

Other debtors

1,000

1,000

1,000

1,000

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

265

181

Accruals and deferred income

2,200

2,100

Other creditors

47,500

50,019

49,965

52,300