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REGISTERED NUMBER: 04278087 (England and Wales)















Paragon.GB. Limited

Unaudited Financial Statements for the Year Ended 30 September 2024






Paragon.GB. Limited (Registered number: 04278087)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paragon.GB. Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr M A Sumpter





SECRETARY: Mr P C Twyman





REGISTERED OFFICE: Paragon
High Street
Five Ashes
Mayfield
East Sussex
TN20 6HY





REGISTERED NUMBER: 04278087 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Paragon.GB. Limited (Registered number: 04278087)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,499,605 1,353,967
1,499,605 1,353,967

CURRENT ASSETS
Stocks 1,873,751 2,665,470
Debtors 6 497,238 421,017
Cash at bank and in hand 340,428 1,630
2,711,417 3,088,117
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

537,717

909,495
NET CURRENT ASSETS 2,173,700 2,178,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,673,305

3,532,589

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(77,778

)

(100,001

)

PROVISIONS FOR LIABILITIES (34,579 ) (30,561 )
NET ASSETS 3,560,948 3,402,027

Paragon.GB. Limited (Registered number: 04278087)

Balance Sheet - continued
30 September 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 3,559,948 3,401,027
SHAREHOLDERS' FUNDS 3,560,948 3,402,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 June 2025 and were signed by:





Mr M A Sumpter - Director


Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Paragon.GB. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Estimation of useful economic life of tangible fixed assets

The company establishes a reliable estimate of the useful life of tangible fixed assets. This estimate is based on a variety of factors such as the amount of time the asset can be used in production, the time at which it will need to be replaced and the wear and tear on the asset.

Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the sale of goods is recognised when the risks and rewards of the ownership of the goods has transferred to the buyer. This is usually at the point that the goods have been despatched.

Turnover arising from services is recognised by reference to the stage of completion of the contract. Income is recognised initially when the work is performed and is accounted for on an accruals basis thereafter.

Goodwill and other intangibles
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Website and software costs are recognised as an intangible asset when all of the following criteria are demonstrated:
- The technical feasibility of completing the website development so that it will be available for use or sale.
- The intention to complete the development and use or sell it.
- The ability to use the website or sell it.
- How the website development will generate probable future economic benefits.
- The availability of adequate technical, financial and other resources to complete the development and to use or sell the website development.
- The ability to measure reliably the expenditure attributable to the website development during its development.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight line method. The intangible assets are amortised over the following useful economic lives:

- Website & software costs 3 years

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures and fittings - 25% on reducing balance

Impairment of assets
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 carrying 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.

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:

Raw materials, consumables and goods for
resale

-

purchase cost on a first-in, first-out basis

Work in progress and finished goods - cost of direct materials and labour plus
attributable overheads based on a normal
level of activity
Trade and other debtors
Trade and other short term debtors are measured at the transaction price less any impairment for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand and bank overdrafts. In the balance sheet, bank overdrafts are shown within current liabilities.

Trade and other creditors
Trade and other short term creditors are measured at the transaction price.


Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Taxation
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.

Foreign currencies
In preparing the financial statements, transactions in currencies other than the functional currency of the individual entities (foreign currencies) are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences are recognised in profit or loss in the period in which they arise.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the 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 15 (2023 - 13 ) .

Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 136,975 25,185 162,160
AMORTISATION
At 1 October 2023
and 30 September 2024 136,975 25,185 162,160
NET BOOK VALUE
At 30 September 2024 - - -
At 30 September 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 October 2023 960,944 1,147,037 141,828 2,249,809
Additions - 378,890 14,874 393,764
Disposals - (158,317 ) (10,156 ) (168,473 )
At 30 September 2024 960,944 1,367,610 146,546 2,475,100
DEPRECIATION
At 1 October 2023 68,835 724,111 102,896 895,842
Charge for year 9,682 124,130 10,668 144,480
Eliminated on disposal - (55,896 ) (8,931 ) (64,827 )
At 30 September 2024 78,517 792,345 104,633 975,495
NET BOOK VALUE
At 30 September 2024 882,427 575,265 41,913 1,499,605
At 30 September 2023 892,109 422,926 38,932 1,353,967

Included in cost of land and buildings is freehold land of £ 476,716 (2023 - £ 476,716 ) which is not depreciated.

Included within the net book value of tangible fixed assets is £243,789 (2023 - £68,783) in respect of assets held as security under hire purchase agreements

Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,071 26,218
Other debtors 468,167 394,799
497,238 421,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 340,446
Hire purchase contracts 102,916 66,666
Trade creditors 121,719 143,682
Taxation and social security 174,699 118,133
Other creditors 138,383 240,568
537,717 909,495

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 77,778 100,001

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 340,446
Hire purchase contracts 180,694 166,667
Santander stocking plan 62,158 191,396
242,852 698,509

The hire purchase loan is secured against the asset to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

Paragon.GB. Limited (Registered number: 04278087)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments on operating leases which are not included in the balance sheet amount to £4,841 (2023 - £11,295).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr M A Sumpter
Balance outstanding at start of year 9,064 9,235
Amounts advanced 81,639 21,829
Amounts repaid (101,224 ) (22,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,521 ) 9,064

Interest has been charged at the official rate on debit balances and amounted to £111 (2023 - £92) for the year. The loan is unsecured and repayable on demand.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £87,000 (2023- £87,000) were paid to the director.