REGISTERED NUMBER: 13147696 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

PARAGN NETWORK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L J O Hackett

E A Thrower

REGISTERED OFFICE:

25 St Thomas Street

Winchester

United Kingdom

Hampshire

SO23 9HJ

REGISTERED NUMBER:

13147696 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

2,160

2,645

CURRENT ASSETS

Debtors

5

99,039

95,956

Cash at bank

12,200

20,726

111,239

116,682

CREDITORS

Amounts falling due within one year

6

69,707

58,911

NET CURRENT ASSETS

41,532

57,771

TOTAL ASSETS LESS CURRENT LIABILITIES

43,692

60,416

PROVISIONS FOR LIABILITIES

410

492

NET ASSETS

43,282

59,924

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

43,182

59,824

43,282

59,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

E A Thrower - Director

1.	STATUTORY INFORMATION

Paragn Network 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 etc

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

3,494

DEPRECIATION

At 1st January 2024

849

Charge for year

485

At 31st December 2024

1,334

NET BOOK VALUE

At 31st December 2024

2,160

At 31st December 2023

2,645

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Other debtors

25,703

-

Amounts falling due after more than one year:

Amounts owed by associates

73,336

95,956

Aggregate amounts

99,039

95,956

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

3,300

Taxation and social security

64,964

52,519

Other creditors

4,743

3,092

69,707

58,911

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

2,321

13,928

Between one and five years

-

2,321

2,321

16,249

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st December 2024 and the period ended 31st December 2023:

2024

2023

£

£

L J O Hackett

Balance outstanding at start of year

(295

)

-

Amounts advanced

82,311

-

Amounts repaid

(57,570

)

(295

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,446

(295

)