PARAGON_RAILWAY_CLEANING_ - Accounts

PARAGON RAILWAY CLEANING LIMITED - Company Information

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Company Registration No. 03996444 (England and Wales)

PARAGON RAILWAY CLEANING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

PARAGON RAILWAY CLEANING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PARAGON RAILWAY CLEANING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,857

4,538

Current assets

Stocks

3,269

2,868

Debtors

53,573

46,932

Cash at bank and in hand

52,206

20,797

109,048

70,597

Creditors: amounts falling due within one year

(48,239)

(36,931)

Net current assets

60,809

33,666

Total assets less current liabilities

64,666

38,204

Creditors: amounts falling due after more than one year

(127,979)

(103,080)

(63,313)

(64,876)

Capital and reserves

Called up share capital

100

Profit and loss account

(63,413)

(64,976)

Shareholders' funds

(63,313)

(64,876)

For the financial year ended 31 July 2016 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 April 2017

A M Cordell

Director

Company Registration No. 03996444

PARAGON RAILWAY CLEANING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

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 goods and 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

15% reducing balance

Computer equipment

25% straight line

Fixtures, fittings & equipment

15% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 August 2015 & at 31 July 2016

17,618

Depreciation

At 1 August 2015

13,080

Charge for the year

681

At 31 July 2016

13,761

Net book value

At 31 July 2016

3,857

At 31 July 2015

4,538

PARAGON RAILWAY CLEANING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Directors advances, credit and guarantees

During the year A Cordell received a further advance of £180 and repaid £1,143 leaving £1,579 owed by him as at 31st July 2016 (2015: £2,542). None of these advances are interest bearing, nor do they have any fixed repayment terms.