Paramount Construction (Property Company) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 02277743

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		47,294		22,317
Investment Properties	5		1,487,500		1,487,500

			1,534,794		1,509,817
CURRENT ASSETS
Debtors	6	62,890		200
Cash at bank and in hand		157,538		509,914

		220,428		510,114
Creditors: Amounts Falling Due Within One Year	7	(1,156,525 )		(1,393,930 )

NET CURRENT ASSETS (LIABILITIES)			(936,097 )		(883,816 )

TOTAL ASSETS LESS CURRENT LIABILITIES			598,697		626,001

Creditors: Amounts Falling Due After More Than One Year	8		(30,468 )		(9,565 )

NET ASSETS			568,229		616,436

CAPITAL AND RESERVES
Called up share capital	10		100		100
Fair value reserve	11		560,619		560,619
Profit and Loss Account			7,510		55,717

SHAREHOLDERS' FUNDS			568,229		616,436

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Paramount Construction (Property Company) Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr James Glaskie

Director

24/07/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Paramount Construction (Property Company) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02277743 . The registered office is Oakhill Court, 171 Bury New Road, Prestwich, Manchester, M25 9ND.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% reducing balance
Motor Vehicles	25% reducing balance

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

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Paramount Construction (Property Company) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2024	12,300	48,990	61,290
Additions	-	51,990	51,990
Disposals	-	(48,990 )	(48,990 )

As at 31 March 2025	12,300	51,990	64,290

Depreciation
As at 1 April 2024	5,483	33,490	38,973
Provided during the period	682	10,831	11,513
Disposals	-	(33,490 )	(33,490 )

As at 31 March 2025	6,165	10,831	16,996

Net Book Value
As at 31 March 2025	6,135	41,159	47,294

As at 1 April 2024	6,817	15,500	22,317

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	1,487,500

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	62,890	-
Other debtors	-	200

	62,890	200

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	6,584	6,885
Trade creditors	1,918	1,428
Corporation tax	43,456	42,289
VAT	34,111	25,763
Accruals and deferred income	5,200	5,200
Amounts owed to related parties	1,065,256	1,312,365

	1,156,525	1,393,930

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Paramount Construction (Property Company) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	30,468	9,565

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	6,584	6,885
Later than one year and not later than five years	30,468	9,565

	37,052	16,450

	37,052	16,450

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Reserves

	Fair Value Reserve
	£
As at 1 April 2024	560,619

As at 31 March 2025	560,619

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