Paramount Construction Co Limited

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

Registered number: 02451987

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		14,907		17,761
Investment Properties	5		4,696,000		4,696,000
Investments	6		267,652		267,652

			4,978,559		4,981,413
CURRENT ASSETS
Debtors	7	2,387,406		2,873,369
Cash at bank and in hand		152,941		161,212

		2,540,347		3,034,581
Creditors: Amounts Falling Due Within One Year	8	(3,831,562 )		(4,267,051 )

NET CURRENT ASSETS (LIABILITIES)			(1,291,215 )		(1,232,470 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,687,344		3,748,943

NET ASSETS			3,687,344		3,748,943

CAPITAL AND RESERVES
Called up share capital	10		120,442		120,442
Share premium account			408,564		408,564
Fair value reserve	11		3,144,818		3,144,818
Profit and Loss Account			13,520		75,119

SHAREHOLDERS' FUNDS			3,687,344		3,748,943

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Paramount Construction Co 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 Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02451987 . 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: 5 (2024: 5)

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Paramount Construction Co 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	70,524	16,991	87,515

As at 31 March 2025	70,524	16,991	87,515

Depreciation
As at 1 April 2024	59,932	9,822	69,754
Provided during the period	1,063	1,791	2,854

As at 31 March 2025	60,995	11,613	72,608

Net Book Value
As at 31 March 2025	9,529	5,378	14,907

As at 1 April 2024	10,592	7,169	17,761

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	4,696,000

6. Investments

	Unlisted
	£
Cost
As at 1 April 2024	267,652

As at 31 March 2025	267,652

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	267,652

As at 1 April 2024	267,652

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	33,744	-
Prepayments and accrued income	364	363
Other debtors	464	3,222
Amounts owed by related parties	2,352,834	2,869,784

	2,387,406	2,873,369

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Paramount Construction Co Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	3,346	6,215
Trade creditors	4,246	2,901
Corporation tax	84,418	54,110
Other taxes and social security	3,313	2,860
VAT	10,741	1,402
Other creditors	1,404,196	2,006,580
Accruals and deferred income	23,500	30,085
Directors' loan accounts	2,297,802	2,162,898

	3,831,562	4,267,051

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,346	6,215

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	120,442	120,442

11. Reserves

	Fair Value Reserve
	£
As at 1 April 2024	3,144,818

As at 31 March 2025	3,144,818

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