Company registration number 02549710 (England and Wales)
PARAGON FREIGHT MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PARAGON FREIGHT MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PARAGON FREIGHT MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
312,666
322,782
Current assets
Debtors
5
2,953,042
3,220,976
Cash at bank and in hand
652,536
694,456
3,605,578
3,915,432
Creditors: amounts falling due within one year
6
(2,995,511)
(3,248,836)
Net current assets
610,067
666,596
Total assets less current liabilities
922,733
989,378
Creditors: amounts falling due after more than one year
7
(15,833)
(110,833)
Provisions for liabilities
(764)
(437)
Net assets
906,136
878,108
Capital and reserves
Called up share capital
8
20,400
20,400
Share premium account
14,000
14,000
Capital redemption reserve
13,600
13,600
Profit and loss reserves
858,136
830,108
Total equity
906,136
878,108
PARAGON FREIGHT MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 November 2025 and are signed on its behalf by:
Mr A Payne
Director
Company registration number 02549710 (England and Wales)
PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Paragon Freight Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Paragon Freight Management, 329 Doncastle Road, Bracknell, Berkshire, RG12 8PE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of transport and logistics management services invoiced during the year and amounts due to be invoiced for work contracted and completed, before the year end, exclusive of Value Added Tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Heritable property
2% straight line
Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.12

Factored debts

For factored debts, the gross asset is shown on the balance sheet within trade debtors and the corresponding liability in respect of the proceeds received from the factor is shown within other creditors. The interest element of the factor's charges and other factoring costs are recognised as they accrue and are included within the profit and loss account within other interest charges.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
32
30
PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 April 2024
305,000
283,329
588,329
Additions
-
0
5,045
5,045
At 31 March 2025
305,000
288,374
593,374
Depreciation and impairment
At 1 April 2024
24,400
241,147
265,547
Depreciation charged in the year
6,100
9,061
15,161
At 31 March 2025
30,500
250,208
280,708
Carrying amount
At 31 March 2025
274,500
38,166
312,666
At 31 March 2024
280,600
42,182
322,782

The bank have a fixed charge over all the book and other debts of the company and a floating charge over all assets, both present and future.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

2025
2024
£
£
Cost
621,960
621,960
Accumulated depreciation
(222,190)
(210,080)
Carrying value
399,770
411,880
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,485,544
1,455,187
Amounts owed by group undertakings
1,020,328
1,020,328
Other debtors
417,605
727,373
2,923,477
3,202,888
PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Debtors
(Continued)
- 7 -
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
29,565
18,088
Total debtors
2,953,042
3,220,976
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
95,000
95,000
Trade creditors
1,224,271
1,259,714
Taxation and social security
154,333
200,960
Other creditors
1,521,907
1,693,162
2,995,511
3,248,836

The proceeds of factored debts are secured against the factored trade debtors of the company.

The bank loans and overdrafts are secured by a first legal charge over the heritable property of the company. the bank also have a fixed charge over all the book and other debts of the company and a floating charge over all assets, both present and future.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
15,833
110,833
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
20,400
20,400
20,400
20,400
9
Directors' transactions
PARAGON FREIGHT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Directors' transactions
(Continued)
- 8 -
Advances
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors Loan Account
2.25
54,248
42,613
96,861
54,248
42,613
96,861
10
Parent company

The immediate parent company is Coralfern Limited, a company registered in England and Wales (09450909). The ultimate parent company is Paragon Freight Management (Holdings) Limited, a company registered in England and Wales (14435106).

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