Company Registration No. SC614142 (Scotland)
PARAGON WHEELS LIMITED
Unaudited accounts
for the year ended 30 November 2024
PARAGON WHEELS LIMITED
Unaudited accounts
Contents
PARAGON WHEELS LIMITED
Company Information
for the year ended 30 November 2024
Directors
Stewart MacDonald
Robert MacDonald
Company Number
SC614142 (Scotland)
Registered Office
205 BONNYTON DRIVE
EAGLESHAM
GLASGOW
G76 0NQ
UNITED KINGDOM
Accountants
McKinnon & Co Ltd ACPA
33 Newmarket Street
Ayr
Ayrshire
KA7 1LL
PARAGON WHEELS LIMITED
Statement of financial position
as at 30 November 2024
Tangible assets
15,285
19,106
Cash at bank and in hand
1
1
Creditors: amounts falling due within one year
(24,397)
(15,349)
Net current liabilities
(9,689)
(15,348)
Total assets less current liabilities
5,596
3,758
Creditors: amounts falling due after more than one year
(5,530)
(15,259)
Net assets/(liabilities)
66
(11,501)
Called up share capital
1
1
Profit and loss account
65
(11,502)
Shareholders' funds
66
(11,501)
For the year ending 30 November 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by
Stewart MacDonald
Director
Company Registration No. SC614142
PARAGON WHEELS LIMITED
Notes to the Accounts
for the year ended 30 November 2024
PARAGON WHEELS LIMITED is a private company, limited by shares, registered in Scotland, registration number SC614142. The registered office is 205 BONNYTON DRIVE, EAGLESHAM, GLASGOW, G76 0NQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing
4
Tangible fixed assets
Plant & machinery
At 30 November 2024
28,046
At 30 November 2024
12,761
At 30 November 2024
15,285
At 30 November 2023
19,106
Amounts falling due after more than one year
PARAGON WHEELS LIMITED
Notes to the Accounts
for the year ended 30 November 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,409
1,826
Taxes and social security
19,068
12,203
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
-
6,509
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).