| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1st August 2023 to 31st December 2024 |
| for |
| PARAMOUNT PLASTERING LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1st August 2023 to 31st December 2024 |
| for |
| PARAMOUNT PLASTERING LIMITED |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Contents of the Financial Statements |
| for the Period 1st August 2023 to 31st December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PARAMOUNT PLASTERING LIMITED |
| Company Information |
| for the Period 1st August 2023 to 31st December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 41 St Thomas's Road |
| Chorley |
| Lancashire |
| PR7 1JE |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Balance Sheet |
| 31st December 2024 |
| 31.12.24 | 31.7.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Balance Sheet - continued |
| 31st December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Notes to the Financial Statements |
| for the Period 1st August 2023 to 31st December 2024 |
| 1. | STATUTORY INFORMATION |
| Paramount Plastering Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
| Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Impairment |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Notes to the Financial Statements - continued |
| for the Period 1st August 2023 to 31st December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Cash and cash equivalents |
| Cash and cash equivalents includes cash in hand, deposits held with banks, and bank ovedrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
| Going concern |
| At the balance sheet date, the company had net current liabilities. However, the directors consider the company to be a going concern and have confirmed their continuing support as trade develops and the company can sustain ongoing operations. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st August 2023 |
| and 31st December 2024 |
| DEPRECIATION |
| At 1st August 2023 |
| Charge for period |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st July 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.7.23 |
| £ | £ |
| PAYE | 4,700 | 2,721 |
| PARAMOUNT PLASTERING LIMITED (REGISTERED NUMBER: 06969708) |
| Notes to the Financial Statements - continued |
| for the Period 1st August 2023 to 31st December 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.7.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' current accounts | 1,037 | 231 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.7.23 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.7.23 |
| value: | £ | £ |
| Ordinary Shares | £1 | 3 | 3 |
| 9. | RELATED PARTY DISCLOSURES |
| At 31 December 2024 the directors were owed by the company £1,037 (2023 £231). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan. |