Registered number
09253879
Paramount Hire Ltd
Filleted Accounts
31 December 2024
Paramount Hire Ltd
Registered number: 09253879
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 136,199 229,191
Investments 4 220 220
136,419 229,411
Current assets
Debtors 5 602,045 75,804
Cash at bank and in hand 308,223 597,465
910,268 673,269
Creditors: amounts falling due within one year 6 (34,607) (35,822)
Net current assets 875,661 637,447
Total assets less current liabilities 1,012,080 866,858
Creditors: amounts falling due after more than one year 7 - (10,666)
Provisions for liabilities (34,050) (43,546)
Net assets 978,030 812,646
Capital and reserves
Called up share capital 440 440
Profit and loss account 977,590 812,206
Shareholder's funds 978,030 812,646
The directors are 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 directors acknowledge their 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.
A Nettleship
Director
Approved by the board on 6 June 2025
Paramount Hire Ltd
Notes to the Accounts
for the year ended 31 December 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
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 at the following rates:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 7,663 323,707 331,370
Additions 435 - 435
Disposals - (72,815) (72,815)
At 31 December 2024 8,098 250,892 258,990
Depreciation
At 1 January 2024 5,966 96,213 102,179
Charge for the year 310 44,793 45,103
On disposals - (24,491) (24,491)
At 31 December 2024 6,276 116,515 122,791
Net book value
At 31 December 2024 1,822 134,377 136,199
At 31 December 2023 1,697 227,494 229,191
4 Investments
Other
investments
£
Cost
At 1 January 2024 220
At 31 December 2024 220
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 574,635 22,825
Taxation and social security costs - 15,829
Other debtors 27,410 37,150
602,045 75,804
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 10,667 14,761
Trade creditors 1,821 2,238
Taxation and social security costs 12,810 -
Directors loan account 9,309 18,823
34,607 35,822
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 10,666
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Nettleship
Directors loan account 11,899 (107,243) 100,001 4,657
G Thompson
Directors loan account 6,924 (102,272) 100,000 4,652
18,823 (209,515) 200,001 9,309
9 Related party transactions
Paramount Ceilings & Partitions Ltd owes the sum of £574,635 at 31 December 2024. The sum is interest free and repayable upon demand.
10 Controlling party
The company is controlled by its directors.
11 Other information
Paramount Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
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