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REGISTERED NUMBER: SC446640 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PARADIGM REINSTATEMENTS LTD

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARADIGM REINSTATEMENTS LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTORS: D J Hunt
C D Macdonald





REGISTERED OFFICE: 9 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC446640 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

BALANCE SHEET
31 August 2024

31.8.23 31.8.24
£ £ Notes £
FIXED ASSETS
275,558 Tangible assets 5 405,668

CURRENT ASSETS
5,600 Stocks 6,600
683,205 Debtors 6 719,276
273,457 Cash at bank 202,956
962,262 928,832
CREDITORS
538,670 Amounts falling due within one year 7 464,546
423,592 NET CURRENT ASSETS 464,286
699,150 TOTAL ASSETS LESS CURRENT
LIABILITIES

869,954

CREDITORS
(66,519 ) Amounts falling due after more than one
year

8

(143,397

)

(68,890 ) PROVISIONS FOR LIABILITIES (101,417 )
563,741 NET ASSETS 625,140

CAPITAL AND RESERVES
3,400 Called up share capital 11 3,400
560,341 Retained earnings 621,740
563,741 SHAREHOLDERS' FUNDS 625,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

BALANCE SHEET - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:




D J Hunt - Director



C D Macdonald - Director


PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Paradigm Reinstatements Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses.The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised in the period in which the estimate is revised and in any future periods affected.

The key areas of judgement that the directors have made in applying accounting policies and key sources of estimation uncertainty comprise:

- Depreciation
- Recoverability of debtors
- Stock
- Accrued income

Depreciation rates are kept the same as prior years, but reviewed on an annual basis to ensure they reflect the useful life of the asset.

The directors consider the recoverability of debtors, based on their judgement and knowledge of the industry and the age of the unpaid debtor and terms of trade, and provide accordingly.

Stock is valued by the directors using established industry standards and their judgement and knowledge of the industry. Provision is made accordingly in respect of any obsolete stock.

For incomplete work an assessment is made of the extent to which the revenue has been earned.

Turnover
Turnover represents revenue earned on sales of goods and services provided to customers, net of value added tax. Revenue is recognised as earned in the accounting period in which goods and services are provided, and the right to consideration has been earned.

For incomplete contract work, an assessment is made of the extent to which revenue has been earned, This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms. Unbilled revenue is included in debtors within prepayments and accrued income.

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with with changes recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown as part of bank loans and overdrafts within creditors: amounts falling due within one year.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity and are at market rate.

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives.The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 27 ) .

5. TANGIBLE FIXED ASSETS
Plant & Motor
Totals machinery vehicles
£ £ £
COST
At 1 September 2023 503,521 99,176 404,345
Additions 233,107 18,976 214,131
Disposals (50,603 ) - (50,603 )
At 31 August 2024 686,025 118,152 567,873
DEPRECIATION
At 1 September 2023 227,963 73,941 154,022
Charge for year 84,472 7,677 76,795
Eliminated on disposal (32,078 ) - (32,078 )
At 31 August 2024 280,357 81,618 198,739
NET BOOK VALUE
At 31 August 2024 405,668 36,534 369,134
At 31 August 2023 275,558 25,235 250,323

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 September 2023 200,151
Additions 214,131
At 31 August 2024 414,282
DEPRECIATION
At 1 September 2023 47,389
Charge for year 60,987
At 31 August 2024 108,376
NET BOOK VALUE
At 31 August 2024 305,906
At 31 August 2023 152,762

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£ £
Trade debtors 526,689 522,048
Sundry debtors 230 27,867
Directors' current accounts 57,603 -
Prepayments and accrued income 134,754 133,290
719,276 683,205

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£ £
Bank loans and overdrafts 10,268 10,015
Hire purchase contracts (see note 9) 89,706 41,482
Trade creditors 204,083 261,880
Taxation and social security 138,499 149,256
Other creditors 21,990 76,037
464,546 538,670

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£ £
Bank loans 9,640 19,908
Hire purchase contracts (see note 9) 133,757 46,611
143,397 66,519

PARADIGM REINSTATEMENTS LTD (REGISTERED NUMBER: SC446640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£ £
Net obligations repayable:
Within one year 89,706 41,482
Between one and five years 133,757 46,611
223,463 88,093

Non-cancellable
operating leases
31.8.24 31.8.23
£ £
Within one year - 40,290
Between one and five years - 40,290
- 80,580

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£ £
Hire purchase contracts 223,463 88,093

Hire purchase contracts are secured over the assets financed.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £ £
3,000 Ordinary 'A' £1 3,000 3,000
400 Ordinary 'B' £1 400 400
3,400 3,400

12. CAPITAL COMMITMENTS
31.8.24 31.8.23
£ £
Contracted but not provided for in the
financial statements 50,370 50,370

13. ULTIMATE CONTROLLING PARTY

No one person has overall control of the company.