PALADIN IMPORTS LIMITED


Directors	E A McIntosh
	H Proctor


Company Secretary	E A McIntosh


Registered Address	Manor Farm House Hill Road
	Ingoldisthorpe
	King's Lynn
	PE31 6NZ


Registered Number	02984159 (England and Wales)

Balance Sheet as at
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		117,246		2,282,159
			117,246		2,282,159
Current assets
Stocks	4	10,206		330,623
Debtors	5	408,575		588,166
Cash at bank and on hand		2,120,015		456,998
		2,538,796		1,375,787
Creditors amounts falling due within one year	6	(10,903)		(18,031)
Net current assets (liabilities)			2,527,893		1,357,756
Total assets less current liabilities			2,645,139		3,639,915
Net assets			2,645,139		3,639,915
Capital and reserves
Called up share capital			100		100
Profit and loss account			2,645,039		3,639,815
Shareholders' funds			2,645,139		3,639,915

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2025, and are signed on its behalf by:

E A McIntosh
Director
Registered Company No. 02984159

PALADIN IMPORTS LIMITED

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Plant and machinery	15	-
Fixtures and fittings	15	-

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 March 24	2,275,729	1,708	10,784	2,288,221
Additions	157,767	-	291	158,058
Disposals	(2,321,962)	-	-	(2,321,962)
At 28 February 25	111,534	1,708	11,075	124,317
Depreciation and impairment
At 01 March 24	-	949	5,113	6,062
Charge for year	-	114	895	1,009
At 28 February 25	-	1,063	6,008	7,071
Net book value
At 28 February 25	111,534	645	5,067	117,246
At 29 February 24	2,275,729	759	5,671	2,282,159


	The land and buildings includes leasehold property with a cost of £111,534

4.	Stocks

	2025	2024
	£	£
Work in progress	10,206	289,251
Other stocks	-	41,372
Total	10,206	330,623

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	408,575	587,023
Prepayments and accrued income	-	1,143
Total	408,575	588,166

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	3,738	9,266
Taxation and social security	-	215
Other creditors	2,421	3,634
Accrued liabilities and deferred income	4,744	4,916
Total	10,903	18,031

7.	Related party transactions
	E A McIntosh - Director There was a loan to the director, on which interest at the HMRC official rate of interest was charged. At the balance sheet date, the amount due from E A McIntosh was £266,261 (2024 - £441,885).