Registered number
08277613
Paramount Ceilings and Partitions Ltd
Filleted Accounts
31 December 2024
Paramount Ceilings and Partitions Ltd
Registered number: 08277613
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,305 6,351
Investments 4 15,000 15,000
22,305 21,351
Current assets
Stocks 25,496 92,746
Debtors 5 125,682 139,501
Cash at bank and in hand 620,211 639,226
771,389 871,473
Creditors: amounts falling due within one year 6 (657,396) (466,507)
Net current assets 113,993 404,966
Total assets less current liabilities 136,298 426,317
Provisions for liabilities (1,827) (2,105)
Net assets 134,471 424,212
Capital and reserves
Called up share capital 220 220
Profit and loss account 134,251 423,992
Shareholder's funds 134,471 424,212
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 Ceilings and Partitions 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
Fixtures, fittings, tools and equipment 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.
Work in progress
Work in progress is measured at the estimated selling price. The carrying amount of work in progress is recognised in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is 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.
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 and subsequently measured at amortised cost.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 7,309
Additions 2,030
At 31 December 2024 9,339
Depreciation
At 1 January 2024 958
Charge for the year 1,076
At 31 December 2024 2,034
Net book value
At 31 December 2024 7,305
At 31 December 2023 6,351
4 Investments
Other
investments
£
Cost
At 1 January 2024 15,000
At 31 December 2024 15,000
5 Debtors 2024 2023
£ £
Trade debtors 119,529 132,724
Taxation and social security costs - -
Other debtors 6,153 6,777
125,682 139,501
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 27,772 259,629
Amounts owed to group undertakings and undertakings in which the company has a participating interest 574,635 22,825
Taxation and social security costs 54,989 184,053
657,396 466,507
7 Related party transactions
Paramount Ceilings and Partitions Ltd owes the sum of £574,635 too Paramount Hire Ltd as at 31 December 2024. The sum is interest free and repayable upon demand.
8 Controlling party
The company is controlled by its directors.
9 Other information
Paramount Ceilings and Partitions 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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