Paragon Scientific Limited

PARAGON SCIENTIFIC LIMITED - Company Information

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Registered number: 02908151

Abbreviated accounts

For The Year Ended 31 August 2015

Paragon Scientific Limited

Company No. 02908151

Abbreviated Balance Sheet 31 August 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		152,419		254,954

			152,419		254,954
CURRENT ASSETS
Stocks		181,167		157,932
Debtors		281,985		162,500
Cash at bank and in hand		327,936		351,653

		791,088		672,085
Creditors: Amounts Falling Due Within One Year		(285,873)		(291,620)

NET CURRENT ASSETS (LIABILITIES)			505,215		380,465

TOTAL ASSETS LESS CURRENT LIABILITIES			657,634		635,419

NET ASSETS			657,634		635,419

CAPITAL AND RESERVES
Called up share capital	3		610		520
Capital redemption reserve			420		420
Profit and Loss Account			656,604		634,479

SHAREHOLDERS' FUNDS			657,634		635,419

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Paragon Scientific Limited

Company No. 02908151

Abbreviated Balance Sheet (continued) 31 August 2015

For the year ending 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mr Jeffrey Morris

29th October 2015

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Paragon Scientific Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 August 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Plant & Machinery	20% on cost
Motor Vehicles	20% on cost

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Paragon Scientific Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2015

Tangible Assets


	Total
Cost	£
As at 1 September 2014	532,274
Additions	61,696
Disposals	-

As at 31 August 2015	593,970

Depreciation
As at 1 September 2014	277,320
Provided during the period	164,231
Disposals	-

As at 31 August 2015	441,551

Net Book Value
As at 31 August 2015	152,419

As at 1 September 2014	254,954

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	610	610	520

	Nominal value	Number	Amount

Shares issued during the period:	£		£
Ordinary shares	1.000	90	90

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