FRS 105

FRS 105

PLATINUM DEVELOPMENT HOLDINGS LIMITED - Company Information

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Company registration number: 11489231
Unaudited financial statements
for the year ended 31 July 2023
for
Platinum Development Holdings Limited
Pages for filing with the Registrar
Platinum Development Holdings Limited
Chartered Accountants' Report to the Board of Directors for the preparation of the
unaudited financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Platinum Development Holdings Limited for the year ended 31 July 2023 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Platinum Development Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Platinum Development Holdings Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Platinum Development Holdings Limited and its Board of Directors, as a body, for our work, or for this r
It is your duty to ensure that Platinum Development Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Platinum Development Holdings Limited. You consider that Platinum Development Holdings 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 accounts of Platinum Development Holdings 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.
Cobble Accountants Limited
Commerce House
Carlton Boulevard
Lincoln
Lincolnshire
LN2 4WJ
United Kingdom
Date 23 April 2024
1
Company registration number: 11489231
Platinum Development Holdings Limited
Balance sheet
as at 31 July 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 57,545 57,545
Investment property 5 1,449,900 1,449,900
1,507,445 1,507,445
Current assets
Stocks 767,799 767,799
Debtors 197,510 98,212
Cash at bank and in hand 7,290 102,167
972,599 968,178
Creditors: amounts falling due within
one year 		(1,688,513) (1,666,219)
Net current liabilities (715,914) (698,041)
Total assets less current liabilities 791,531 809,404
Creditors: Amounts falling due after
more than one year 		(1,008,373) (1,060,696)
NET LIABILITIES (216,842) (251,292)
Capital and reserves
Called up share capital 100 100
Profit and loss account (216,942) (251,392)
TOTAL EQUITY (216,842) (251,292)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2023.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
2
Company registration number: 11489231
Platinum Development Holdings Limited
Balance sheet - continued
as at 31 July 2023
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 and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 23 April 2024 and signed on its behalf by:
Mr D Williams, Director
23 April 2024
3
Platinum Development Holdings Limited
Notes to the financial statements
for the year ended 31 July 2023
1 Company information
The company is registered in England and Wales. Its registered number is 11489231. The company is limited by shares. Its registered office is Montagu House, London Road, Retford, DN22 7JJ.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3 Average number of employees
During the year the average number of employees was 2 (2022 - 2).
4
Platinum Development Holdings Limited
Notes to the financial statements - continued
for the year ended 31 July 2023
4 Fixed asset investments
Investments other than loans
Shares in
group
undertakings
and
participating
interests
£
Cost
At 1 August 2022 57,545
At 31 July 2023 57,545
Net book value
At 31 July 2023 57,545
At 31 July 2022 57,545
5 Investment property
£
Valuation
At 1 August 2022 1,449,900
Additions -
At 31 July 2023 1,449,900
5