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.

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 his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Paragon Microfibre Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Upper Grosvenor Road, Tunbridge Wells, England, TN1 2EP.

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 amounts in these financial statements are rounded to the nearest £1.

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

Turnover is recognised at the fair value of consideration received or receivable for the sale of microfibre products.

Turnover is shown net of VAT and is recognised when ownership of the goods is transferred to the customer.

Goodwill representing the amount paid in connection with the acquisition of a business in 2003, has been fully amortised over its estimated useful life of ten years.

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:

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

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

During the year to 31 March 2021, the company borrowed £50,000 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government has guaranteed the advance and paid the interest and fees due for the first 12 months. As at the balance sheet date, the balance outstanding to the company's bankers was £24,592 (2024 - £30,378).

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The company has taken advantage of the exemption within FRS 102 from the requirement to disclose transactions entered into between two or more members of a group provided that any subsidiary which is party to the transaction is wholly owned by such a member.

The immediate and ultimate parent company of Paragon Microfibre Limited is Paragon Microfibre Holdings Limited and its registered office is 10 Upper Grosvenor Road, Tunbridge Wells, Kent, TN1 2EP.