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PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED - Company Information

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Paramount Properties Investments 2000 Limited

Director's report and unaudited financial statements

For the year ended 31 March 2016

55 Loudoun Road

St John's Wood

London NW8 0DL

Company Registration No. 04039760

(England and Wales)

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

COMPANY INFORMATION

Director

M Greig

Secretary

C Milazzo

Company number

04039760

Registered office

150 West End lane

London

NW6 1SD

Accountants

MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

Business address

150 West End lane

London

NW6 1SD

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

Report and financial statements

For the year ended 31 March 2016

Contents

Page

Director's report

Accountants' report

Profit and loss account

Balance sheet

4 - 5

Notes to the financial statements

6 - 8

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2016

- 1 -

The director presents his report and financial statements for the year ended 31 March 2016.

Principal activities

The principal activity of the company continued to be that of estate agents.

Director

The following director has held office since 1 April 2015:

M Greig

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

By order of the board

C Milazzo

Secretary

3 November 2016

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paramount Properties Investments 2000 Limited for the year ended 31 March 2016 set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Paramount Properties Investments 2000 Limited, as a body, in accordance with the terms of our engagement letter dated 4 March 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Paramount Properties Investments 2000 Limited and state those matters that we have agreed to state to the Board of Directors of Paramount Properties Investments 2000 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paramount Properties Investments 2000 Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Paramount Properties Investments 2000 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paramount Properties Investments 2000 Limited. You consider that Paramount Properties Investments 2000 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paramount Properties Investments 2000 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

8 November 2016

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

2016

2015

Notes

Turnover

83,235

782,901

Cost of sales

(400)

(64,433)

Gross profit

82,835

718,468

Administrative expenses

(36,434)

(745,063)

Operating profit/(loss)

46,401

(26,595)

Interest payable and similar charges

(752)

Profit/(loss) on ordinary activities before taxation

46,401

(27,347)

Tax on profit/(loss) on ordinary activities

(6,000)

4,937

Profit/(loss) for the year

40,401

(22,410)

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

BALANCE SHEET

AS AT

31 MARCH 2016

- 4 -

2016

2015

Notes

Fixed assets

Tangible assets

20,001

Current assets

Debtors

9,410

170,979

Cash at bank and in hand

7,196

2,865

16,606

173,844

Creditors: amounts falling due within one year

(15,946)

(125,110)

Net current assets

660

48,734

Total assets less current liabilities

660

68,735

Creditors: amounts falling due after more than one year

(16,476)

660

52,259

Capital and reserves

Called up share capital

1,000

Profit and loss account

(340)

51,259

Shareholders' funds

660

52,259

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 5 -

For the financial year ended 31 March 2016 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 his 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 in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 3 November 2016

M Greig

Director

Company Registration No. 04039760

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

- 6 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

33% straight line basis

Fixtures, fittings & equipment

25% Straight line basis

Motor vehicles

25% Straight line basis

Operating profit/(loss)

2016

2015

Operating profit/(loss) is stated after charging:

Depreciation of tangible assets

16,833

Taxation

2016

2015

Domestic current year tax

U.K. corporation tax

6,000

Adjustment for prior years

(4,937)

Total current tax

6,000

(4,937)

Dividends

2016

2015

Ordinary interim paid

92,000

20,000

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 7 -

Tangible fixed assets

Plant and machinery etc

Cost

At 1 April 2015

28,825

Disposals

(28,825)

At 31 March 2016

Depreciation

At 1 April 2015

8,824

On disposals

(8,824)

At 31 March 2016

Net book value

At 31 March 2016

At 31 March 2015

20,001

Debtors

2016

2015

Trade debtors

1,249

162,123

Other debtors

8,161

8,856

9,410

170,979

Creditors: amounts falling due within one year

2016

2015

Net obligations under hire purchase contracts

6,525

Trade creditors

6,907

17,545

Taxation and social security

6,000

9,055

Other creditors

3,039

91,985

15,946

125,110

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 8 -

Creditors: amounts falling due after more than one year

2016

2015

Net obligations under hire purchase contracts

16,476

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000

Statement of movements on profit and loss account

Profit
and loss
account

Balance at 1 April 2015

51,259

Profit for the year

40,401

Dividends paid

(92,000)

Balance at 31 March 2016

(340)

Related party relationships and transactions

The company occupies premises and utilises facilities of Paramount Residential 2000 Limited, a company in which Mr M Greig is also a director and shareholder. The charge for the year in respect of the share of the costs attributable to the company was £18,797 (2015: £127,995). The amount still outstanding to Paramount Residential 2000 Ltd at the year end was £nil (2015: £5,316).

Paramount Management UK LLP, a limited liability partnership in which Mr M Greig is a member provided management services to the company. The charge for the year was £22,951 (2015: £251,464). The amount still outstanding to Paramount Management UK LLP at the year end was £nil (2015: £10,729).

The company charged Paramount Management UK LLP £nil (2015: £18,000) in relation to overhead expenses.

Paramount Lettings Limited is a company in which Mr M Greig is a director and shareholder. At the year end the company was owed £1,249 (2015: £nil) by Paramount Lettings Limited.

Paramount Properties Investments 2000 Limited

Management information

For the year ended 31 March 2016

PARAMOUNT PROPERTIES INVESTMENTS 2000 LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 MARCH 2016

2016

2015

Administrative expenses

Wages and social security costs

4,498

247,434

Staff training and welfare

140

Staff recruitment

7,725

Rent and rates

32,892

Management charges

22,951

251,464

Insurance

494

4,211

Cleaning

4,833

Repairs and maintenance

19,090

Printing, postage and stationery

6,784

Advertising

2,868

30,668

Telephone

6,477

11,433

Computer running costs

(7,295)

61,772

Hire of equipment

2,260

Motor running expenses

2,262

22,259

Travelling expenses

268

2,398

Entertaining

2,750

Legal and professional fees

3,659

Consultancy fees

395

Accountancy

2,000

4,000

Search fees

5,516

Bank charges

1,399

Bad and doubtful debts

351

221

Sundry expenses

4,547

Subscriptions

1,529

Depreciation on plant and machinery

2,431

Depreciation on fixtures, fittings and equipment

2,175

Depreciation on motor vehicles

12,227

Profit on disposal of fixed assets

(1,439)

1,515

36,434

745,063