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REGISTERED NUMBER: 12089939 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Platinum Fasteners Ltd

Platinum Fasteners Ltd (Registered number: 12089939)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Platinum Fasteners Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: M Sufyaan Aksar





REGISTERED OFFICE: Oakland Mills
Netherfield Road
Dewsbury
West Yorkshire
WF13 3JY





REGISTERED NUMBER: 12089939 (England and Wales)





ACCOUNTANTS: Blenheim Advisory Limited
Chartered Certified Accountants
230 Stanningley Road
Leeds
West Yorkshire
LS13 3BA

Platinum Fasteners Ltd (Registered number: 12089939)

Balance Sheet
31 January 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 12,194 19,782

CURRENT ASSETS
Stocks 97,897 102,056
Debtors 5 243,817 229,208
Cash at bank 89,992 98,161
431,706 429,425
CREDITORS
Amounts falling due within one year 6 305,334 342,357
NET CURRENT ASSETS 126,372 87,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,566

106,850

CREDITORS
Amounts falling due after more than
one year

7

84,388

77,944
NET ASSETS 54,178 28,906

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54,078 28,806
54,178 28,906

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Platinum Fasteners Ltd (Registered number: 12089939)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





M Sufyaan Aksar - Director


Platinum Fasteners Ltd (Registered number: 12089939)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Platinum Fasteners 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

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 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 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.

Platinum Fasteners Ltd (Registered number: 12089939)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 February 2022 31,252 9,350 40,602
Additions 1,250 - 1,250
At 31 January 2023 32,502 9,350 41,852
DEPRECIATION
At 1 February 2022 15,626 5,194 20,820
Charge for year 6,500 2,338 8,838
At 31 January 2023 22,126 7,532 29,658
NET BOOK VALUE
At 31 January 2023 10,376 1,818 12,194
At 31 January 2022 15,626 4,156 19,782

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 243,817 224,554
Other debtors - 4,654
243,817 229,208

Platinum Fasteners Ltd (Registered number: 12089939)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,890 9,646
Trade creditors 252,756 307,033
Taxation and social security 32,688 14,704
Other creditors 10,000 10,974
305,334 342,357

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£ £
Bank loans 24,946 34,837
Other creditors 59,442 43,107
84,388 77,944

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 January 2023 and the period ended 31 January 2022:

2023 2022
£ £
M H Iqbal
Balance outstanding at start of year 43,107 25,100
Amounts advanced 18,310 18,478
Amounts repaid (1,975 ) (471 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,442 43,107