Platform 5 Publishing Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01775093 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Platform 5 Publishing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

A Dyson

Mrs S A Dyson

A M Edwards

SECRETARY:

A Dyson

REGISTERED OFFICE:

52 Broadfield Road

Sheffield

South Yorkshire

S8 0XJ

REGISTERED NUMBER:

01775093 (England and Wales)

ACCOUNTANTS:

Brearley & Co Accountants Limited

Chartered Certified Accountants

4 Park Square

Newton Chambers Road

Chapeltown

Sheffield

South Yorkshire

S35 2PH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

197,304

195,991

197,304

195,991

CURRENT ASSETS

Stocks

6

186,570

171,492

Debtors

7

62,681

49,695

Cash at bank and in hand

29,786

32,286

279,037

253,473

CREDITORS

Amounts falling due within one year

8

372,481

340,191

NET CURRENT LIABILITIES

(93,444

)

(86,718

)

TOTAL ASSETS LESS CURRENT LIABILITIES

103,860

109,273

CREDITORS

Amounts falling due after more than one year

9

(48,710

)

(54,839

)

PROVISIONS FOR LIABILITIES

12

(1,728

)

(1,728

)

NET ASSETS

53,422

52,706

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

14

53,322

52,606

SHAREHOLDERS' FUNDS

53,422

52,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by:

A Dyson - Director

1.	STATUTORY INFORMATION

Platform 5 Publishing Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have been transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably. It is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Intellectual

Property

£

COST

At 1 April 2022

and 31 March 2023

45,000

AMORTISATION

At 1 April 2022

and 31 March 2023

45,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

181,776

22,633

136,896

341,305

Additions

-

-

5,869

5,869

At 31 March 2023

181,776

22,633

142,765

347,174

DEPRECIATION

At 1 April 2022

-

19,532

125,782

145,314

Charge for year

-

310

4,246

4,556

At 31 March 2023

-

19,842

130,028

149,870

NET BOOK VALUE

At 31 March 2023

181,776

2,791

12,737

197,304

At 31 March 2022

181,776

3,101

11,114

195,991

6.

STOCKS

31.3.23

31.3.22

£

£

Stocks

186,570

171,492

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

54,390

41,487

Other debtors

8,291

8,208

62,681

49,695

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts (see note 10)

5,800

5,500

Trade creditors

194,899

136,005

Social security and other taxes

8,400

9,445

Directors' current accounts

3,000

-

Accrued expenses

160,382

189,241

372,481

340,191

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans (see note 10)

48,710

54,839

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

26,710

32,839

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.23

31.3.22

£

£

Amounts falling due within one year or on demand:

Bank loans

5,800

5,500

Amounts falling due between one and two years:

Bank loans - 1-2 years

5,500

5,500

Amounts falling due between two and five years:

Bank loans - 2-5 years

16,500

16,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

26,710

32,839

11.	SECURED DEBTS

The company's banking and borrowing facilities are secured by a fixed and floating charge from HSBC which covers all the property or undertaking of the company.

12.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

1,728

1,728

Deferred

tax

£

Balance at 1 April 2022

1,728

Balance at 31 March 2023

1,728

**

BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF

-

DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB

1,728

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

20

Ordinary

£1

20

20

80

Ordinary A

£1

80

80

100

100

14.

RESERVES

Retained

earnings

£

At 1 April 2022

52,606

Profit for the year

5,516

Dividends

(4,800

)

At 31 March 2023

53,322

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Platform 5 Publishing Limited for the year ended 31 March 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Platform 5 Publishing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Platform 5 Publishing Limited and state those matters that we have agreed to state to the Board of Directors of Platform 5 Publishing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Platform 5 Publishing 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 Platform 5 Publishing Limited. You consider that Platform 5 Publishing 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 Platform 5 Publishing 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.

Brearley & Co Accountants Limited

Chartered Certified Accountants

4 Park Square

Newton Chambers Road

Chapeltown

Sheffield

South Yorkshire

S35 2PH

22 December 2023