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REGISTERED NUMBER: 10780232 (England and Wales)






Financial Statements

for the Year Ended 30 September 2024

for

PARAGON BRANDS LIMITED

PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PARAGON BRANDS LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Jones
J Robicquet
Y J Perezzan





SECRETARY: C Jones





REGISTERED OFFICE: Unit 1, Royal Mills
Redhill Street
Manchester
M4 5BA





REGISTERED NUMBER: 10780232 (England and Wales)





AUDITORS: Pembroke Briggs Chartered Accountants
Beacon House
South Road
Weybridge
Surrey
KT13 9DZ

PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,531 3,485

CURRENT ASSETS
Stocks 1,312,359 1,153,269
Debtors 2,541,440 1,919,905
Cash at bank and in hand 66,437 131,173
3,920,236 3,204,347
CREDITORS
Amounts falling due within one
year

4,357,889

3,415,543
NET CURRENT LIABILITIES (437,653 ) (211,196 )
TOTAL ASSETS LESS
CURRENT LIABILITIES

(434,122

)

(207,711

)

CREDITORS
Amounts falling due after more
than one year

11,250

20,250
NET LIABILITIES (445,372 ) (227,961 )

CAPITAL AND RESERVES
Called up share capital 54 54
Capital redemption reserve 46 46
Retained earnings (445,472 ) (228,061 )
(445,372 ) (227,961 )

PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

Abridged Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





C Jones - Director


PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

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


1. STATUTORY INFORMATION

Paragon Brands 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.

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.

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 - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.


PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

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


2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
There is a net deficiency of assets of £445,372 at the balance sheet date, however its parent company has confirmed their continued support and consider the company retains sufficient working capital to continue trading for the forseeable future. The financial statements have therefore been prepapred on a going concern basis.

Financial instruments
Classification

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the Balance Sheet. The corresponding dividends relating to the liability component are charges as interest in the Profit and Loss Account.

Recognition and Measurement

All financial assets and liabilities are initially measured at transaction value (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financial transaction. If an arrangement constitutes a financial transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market value of interest for a similar debt instrument.

PARAGON BRANDS LIMITED (REGISTERED NUMBER: 10780232)

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


2. ACCOUNTING POLICIES - continued

Key sources of estimation uncertainty
Other creditors includes a general provision in respect of liabilities that may or may not arise in respect of a historic trade dispute. The Directors have taken the view to provide for their estimate of the likely settlement having taken legal advice. Once certainty is obtained in respect of this matter any under or over provisions will be released to the profit and loss account at that time.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 20,331
Additions 3,126
At 30 September 2024 23,457
DEPRECIATION
At 1 October 2023 16,846
Charge for year 3,080
At 30 September 2024 19,926
NET BOOK VALUE
At 30 September 2024 3,531
At 30 September 2023 3,485

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Briggs (Senior Statutory Auditor)
for and on behalf of Pembroke Briggs Chartered Accountants