Paramount Coaches Limited 31/03/2025 iXBRL

Company registration number: 04822485

Paramount Coaches Limited

Unaudited filleted financial statements

31 March 2025

Paramount Coaches Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Paramount Coaches Limited

Directors and other information


	Director	Mr B M Couch


	Secretary	Mr K Hallett


	Company number	04822485


	Registered office	2 Endeavour House
		Parkway Court, Longbridge Road
		Plymouth
		Devon
		PL6 8LR


	Accountants	Wills Accountants Limited
		2 Endeavour House
		Parkway Court, Longbridge Road
		Plymouth
		Devon
		PL6 8LR

Paramount Coaches Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	8,459		262,662
		_______		_______
			8,459		262,662

Current assets
Debtors	7	341,138		271,917
Cash at bank and in hand		505		50
		_______		_______
		341,643		271,967
Creditors: amounts falling due
within one year	8	( 168,015)		( 219,151)
		_______		_______
Net current assets			173,628		52,816
			_______		_______
Total assets less current liabilities			182,087		315,478

Creditors: amounts falling due
after more than one year	9		( 5,055)		( 81,389)
			_______		_______
Net assets			177,032		234,089
			_______		_______

Capital and reserves
Called up share capital	10		1,000		1,000
Profit and loss account			176,032		233,089
			_______		_______
Shareholders funds			177,032		234,089
			_______		_______

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.

Director's responsibilities:

- The 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 director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 December 2025 , and are signed on behalf of the board by:

Mr B M Couch

Director

Company registration number: 04822485

Paramount Coaches Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Endeavour House, Parkway Court, Longbridge Road, Plymouth, Devon, PL6 8LR.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	2 %	straight line
Fittings fixtures and equipment	-	15 %	straight line
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 2 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	50,000	50,000
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	50,000	50,000
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	-	-
	_______	_______

6. Tangible assets

	Freehold property	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	260,452	5,145	22,547	288,144
Additions	-	133	-	133
Disposals	( 260,452)	-	-	( 260,452)
	_______	_______	_______	_______
At 31 March 2025	-	5,278	22,547	27,825
	_______	_______	_______	_______
Depreciation
At 1 April 2024	8,526	1,097	15,859	25,482
Charge for the year	-	738	1,672	2,410
Disposals	( 8,526)	-	-	( 8,526)
	_______	_______	_______	_______
At 31 March 2025	-	1,835	17,531	19,366
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	-	3,443	5,016	8,459
	_______	_______	_______	_______
At 31 March 2024	251,926	4,048	6,688	262,662
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Other debtors	341,138	271,917
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	50,352	72,597
Trade creditors	2,781	8,028
Corporation tax	89,524	103,089
Social security and other taxes	2,094	1,965
Other creditors	23,264	33,472
	_______	_______
	168,015	219,151
	_______	_______

Secured bank borrowing £0 (2024: £25,626) by way of charges over the company's property and other assets owned by officers of the company. Secured bank borrowing £9,942 (2024: £9,936) by way of a government backed loan scheme.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	5,055	81,389
	_______	_______

Secured bank borrowing £0 (2024: £69,658) by way of charges over the company's property and other assets owned by officers of the company.

Secured bank borrowing £5,055 (2024: £11,731) by way of a government backed loan scheme.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	1,000	1,000	1,000	1,000
	_______	_______	_______	_______

11. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr B M Couch	186,172	152,272	( 99,702)	238,742
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr B M Couch	298,786	61,636	( 174,250)	186,172
		_______	_______	_______	_______

The loan to the director is unsecured, repayable on demand and interest free.