PARAGON CLADDING LIMITED - Filleted accounts

Registered number

06218375

PARAGON CLADDING LIMITED

Filleted Accounts

30 April 2018

PARAGON CLADDING LIMITED
Registered number:		06218375
Balance Sheet
as at 30 April 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		441			243

Current assets
Debtors	3	5,483			4,201
Cash at bank and in hand		442			731
		5,925			4,932

Creditors: amounts falling due within one year	4	(5,688)			(4,989)

Net current assets/(liabilities)			237			(57)

Net assets			678			186

Capital and reserves
Called up share capital			2			2
Profit and loss account			676			184

Shareholders' funds			678			186

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




RA Barber
Director
Approved by the board on 19 December 2018

PARAGON CLADDING LIMITED
Notes to the Accounts
for the year ended 30 April 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% Reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 May 2017			2,028		350		2,378
	Additions			346		-		346
	At 30 April 2018			2,374		350		2,724

	Depreciation
	At 1 May 2017			1,847		288		2,135
	Charge for the year			132		16		148
	At 30 April 2018			1,979		304		2,283

	Net book value
	At 30 April 2018			395		46		441
	At 30 April 2017			181		62		243


3	Debtors					2018		2017
£							£

	Other debtors					5,483		4,201


4	Creditors: amounts falling due within one year					2018		2017
£							£

	Non-equity preference shares					2,333		-
	Taxation and social security costs					1,942		3,660
	Other creditors					1,413		1,329
						5,688		4,989


5	Loans from directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	R A Barber
	Director's loan	(225)		(18,480)		21,262		2,557

		(225)		(18,480)		21,262		2,557


6	Controlling party

	The company was under the control of Mr RA Barber and Mrs B Barber by virtue of them holding 100% of the issued share capital.


7	Other information

	PARAGON CLADDING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	12 Granary Wharf Business Park
	Wetmore Road
	Burton upon Trent
	Staffordshire
	DE14 1DU