Registered number
07380529
REIGNING PARADIGMS LIMITED
Unaudited Filleted Accounts
30 September 2024
REIGNING PARADIGMS LIMITED
Registered number: 07380529
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 634 -
Current assets
Cash at bank and in hand 194 184
Creditors: amounts falling due within one year 4 (393,640) (385,626)
Net current liabilities (393,446) (385,442)
Total assets less current liabilities (392,812) (385,442)
Creditors: amounts falling due after more than one year 5 (11,080) (12,697)
Net liabilities (403,892) (398,139)
Capital and reserves
Called up share capital 2 2
Profit and loss account (403,894) (398,141)
Shareholder's funds (403,892) (398,139)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Caroline D'ay
Director
Approved by the board on 31 March 2025
REIGNING PARADIGMS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern basis of accounting
At the balance sheet date, the company's liabilities exceeded its assets.The accounts have been prepared on a going concern basis as the sole director has given an assurance of continuing financial support for the company for at least twelve months from the date of signing these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% and 20% on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 6,730
Additions 951
At 30 September 2024 7,681
Depreciation
At 1 October 2023 6,730
Charge for the year 317
At 30 September 2024 7,047
Net book value
At 30 September 2024 634
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,951 3,241
Taxation and social security costs 364 364
Other creditors 390,325 382,021
393,640 385,626
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,080 12,697
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 14,031 15,938
Secured loans comprise a bank loan personally guaranteed by Caroline D'ay and a Bounce Back Loan of £1,112 secured by government guarantee.
7 Related party transactions
Creditors includes a loan of £388,498 (2023: £379,870) from Caroline D'ay, the sole director of the company, and her husband. This loan is unsecured, interest-free and with no fixed repayment date.
8 Other information
REIGNING PARADIGMS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Nicholson House
41 Thames Street
Weybridge
KT13 8JG
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