Platinum One Holdings Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05982898 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

Platinum One Holdings Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J Cheema

REGISTERED OFFICE:

Unit C7

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

REGISTERED NUMBER:

05982898 (England and Wales)

ACCOUNTANT:

Aspirations Accountancy Ltd

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

FIXED ASSETS

Investments

3

100

100

CREDITORS

Amounts falling due within one year

4

-

11,032

NET CURRENT LIABILITIES

-

(11,032

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

(10,932

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

6

-

(11,032

)

SHAREHOLDERS' FUNDS

100

(10,932

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 15 November 2017 and were signed by:

J Cheema - Director

1.	STATUTORY INFORMATION

Platinum One Holdings 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as the directors have pledged their ongoing

financial support to the company.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 29 February 2016

and 28 February 2017

100

NET BOOK VALUE

At 28 February 2017

100

At 28 February 2016

100

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

-

11,032

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

6.

RESERVES

Retained

earnings

£

At 29 February 2016

(11,032

)

Profit for the year

14,500

Dividends

(3,468

)

At 28 February 2017

-

7.	RELATED PARTY DISCLOSURES

Shareholder

During the year, the company passed a special resolution to write off the loan to the shareholder of £Nil

(2016:£Nil). This amount has been reported as an exception item.

Platinum One Limited

The subsidiary company

There was a loan existing between the companies which is included in other creditors due within 1 year. It is

anticipated that this loan will be fully repaid in the next 12 months.

2017

2016

£

£

Amount due from/(to) related party at the balance sheet date

8,968

(11,032

)

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J Cheema.

The ultimate controlling party is J Cheema.

The director is the ultimate controlling party by virtue of his 100% shareholding.

9.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) as at 1st

March 2016.

Reconciliation of equity

No transitional adjustments were required

Reconciliation of Profit or loss for the year

No transitional adjustments were required