Platinum Living Devon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06996454 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

PLATINUM LIVING DEVON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Lockwood

Mrs B Brady Lockwood

REGISTERED OFFICE:

Queensgate House

48 Queen Street

Exeter

Devon

EX4 3SR

REGISTERED NUMBER:

06996454 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Tangible assets

5

4,393

5,080

CURRENT ASSETS

Debtors

6

46,919

54,610

Cash at bank and in hand

11,942

12,509

58,861

67,119

CREDITORS

Amounts falling due within one year

7

18,975

19,869

NET CURRENT ASSETS

39,886

47,250

TOTAL ASSETS LESS CURRENT LIABILITIES

44,279

52,330

PROVISIONS FOR LIABILITIES

835

965

NET ASSETS

43,444

51,365

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

43,442

51,363

SHAREHOLDERS' FUNDS

43,444

51,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 22 May 2019 and were signed on its behalf by:

A J Lockwood - Director

1.	STATUTORY INFORMATION

Platinum Living Devon Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced services provided by the Company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

15% on reducing balance

Fixtures & fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value,

with changes recognised in profit or loss. Derivative financial instruments are initially recorded

at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss,

except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred tax

is measured using tax rates and laws that have been enacted or substantively enacted by the

year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Computer

machinery

& fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2017

2,657

1,924

10,943

15,524

Additions

180

149

754

1,083

Disposals

(500

)

(886

)

(5,171

)

(6,557

)

At 31 August 2018

2,337

1,187

6,526

10,050

DEPRECIATION

At 1 September 2017

941

840

8,663

10,444

Charge for year

258

183

851

1,292

Eliminated on disposal

(314

)

(594

)

(5,171

)

(6,079

)

At 31 August 2018

885

429

4,343

5,657

NET BOOK VALUE

At 31 August 2018

1,452

758

2,183

4,393

At 31 August 2017

1,716

1,084

2,280

5,080

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

6,887

370

Other debtors

40,032

54,240

46,919

54,610

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

5,356

8,930

Other creditors

13,619

10,939

18,975

19,869

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year-end, the directors had advances of £15,430 which had not been repaid.

Interest is charged on the overdrawn loan account balance at a rate of 3% per annum. There

are no fixed terms of repayment.

Dividends have been paid after the year-end, which clear the overdrawn directors loan account.