IRIS Accounts Production v25.1.0.734 05168353 director 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051683532023-07-31051683532024-07-31051683532023-08-012024-07-31051683532022-07-31051683532022-08-012023-07-31051683532023-07-3105168353ns14:PoundSterling2023-08-012024-07-3105168353ns10:Director12023-08-012024-07-3105168353ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3105168353ns10:SmallEntities2023-08-012024-07-3105168353ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3105168353ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3105168353ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3105168353ns10:FullAccounts2023-08-012024-07-310516835312023-08-012024-07-3105168353ns10:CompanySecretary12023-08-012024-07-3105168353ns10:RegisteredOffice2023-08-012024-07-3105168353ns5:CurrentFinancialInstruments2024-07-3105168353ns5:CurrentFinancialInstruments2023-07-3105168353ns5:Non-currentFinancialInstruments2024-07-3105168353ns5:Non-currentFinancialInstruments2023-07-3105168353ns5:ShareCapital2024-07-3105168353ns5:ShareCapital2023-07-3105168353ns5:RetainedEarningsAccumulatedLosses2024-07-3105168353ns5:RetainedEarningsAccumulatedLosses2023-07-3105168353ns5:NetGoodwill2023-08-012024-07-3105168353ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3105168353ns5:PlantMachinery2023-08-012024-07-3105168353ns5:FurnitureFittings2023-08-012024-07-3105168353ns5:MotorVehicles2023-08-012024-07-3105168353ns5:ComputerEquipment2023-08-012024-07-3105168353ns5:NetGoodwill2023-07-3105168353ns5:NetGoodwill2024-07-3105168353ns5:NetGoodwill2023-07-3105168353ns5:PlantMachinery2023-07-3105168353ns5:FurnitureFittings2023-07-3105168353ns5:MotorVehicles2023-07-3105168353ns5:ComputerEquipment2023-07-3105168353ns5:PlantMachinery2024-07-3105168353ns5:FurnitureFittings2024-07-3105168353ns5:MotorVehicles2024-07-3105168353ns5:ComputerEquipment2024-07-3105168353ns5:PlantMachinery2023-07-3105168353ns5:FurnitureFittings2023-07-3105168353ns5:MotorVehicles2023-07-3105168353ns5:ComputerEquipment2023-07-3105168353ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3105168353ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3105168353ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-3105168353ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-3105168353ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-3105168353ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-31
REGISTERED NUMBER: 05168353















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

PARAMOUNT CEILINGS AND INTERIORS LTD

PARAMOUNT CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARAMOUNT CEILINGS AND INTERIORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: R Banyard





SECRETARY: R Banyard





REGISTERED OFFICE: 288 Beacontree Avenue
Dagenham
Essex
RM8 2TR





REGISTERED NUMBER: 05168353





ACCOUNTANTS: Xeinadin South East Ltd
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

PARAMOUNT CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 81,811 49,158
81,811 54,158

CURRENT ASSETS
Stocks 3,222 3,808
Debtors 6 1,544,570 1,062,405
Cash at bank and in hand 262,591 656,923
1,810,383 1,723,136
CREDITORS
Amounts falling due within one year 7 464,343 513,832
NET CURRENT ASSETS 1,346,040 1,209,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,427,851

1,263,462

CREDITORS
Amounts falling due after more than one
year

8

(13,091

)

(22,569

)

PROVISIONS FOR LIABILITIES (20,484 ) (10,328 )
NET ASSETS 1,394,276 1,230,565

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,394,176 1,230,465
SHAREHOLDERS' FUNDS 1,394,276 1,230,565

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

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

The director acknowledges his 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 CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 16 May 2025 and were signed by:





R Banyard - Director


PARAMOUNT CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Paramount Ceilings and Interiors Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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 CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 100,000
AMORTISATION
At 1 August 2023 95,000
Amortisation for year 5,000
At 31 July 2024 100,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 5,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 24,132 5,793 126,675 16,523 173,123
Additions - - 74,533 2,275 76,808
Disposals - - (49,951 ) - (49,951 )
At 31 July 2024 24,132 5,793 151,257 18,798 199,980
DEPRECIATION
At 1 August 2023 23,946 3,300 84,452 12,267 123,965
Charge for year 47 373 25,139 2,400 27,959
Eliminated on disposal - - (33,755 ) - (33,755 )
At 31 July 2024 23,993 3,673 75,836 14,667 118,169
NET BOOK VALUE
At 31 July 2024 139 2,120 75,421 4,131 81,811
At 31 July 2023 186 2,493 42,223 4,256 49,158

PARAMOUNT CEILINGS AND INTERIORS LTD (REGISTERED NUMBER: 05168353)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 272,018 251,975
Amounts owed by group undertakings 1,230,794 752,442
VAT 41,758 57,988
1,544,570 1,062,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,183 9,932
Trade creditors 337,484 355,796
Tax 66,160 104,357
Social security and other taxes 8,606 13,929
Other creditors 35,117 23,172
Directors' current accounts 293 296
Accrued expenses 6,500 6,350
464,343 513,832

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,440 10,183
Bank loans - 2-5 years 2,651 12,386
13,091 22,569