Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 11034292 Mr James Alford iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11034292 2022-10-31 11034292 2023-10-31 11034292 2022-11-01 2023-10-31 11034292 frs-core:CurrentFinancialInstruments 2023-10-31 11034292 frs-core:Non-currentFinancialInstruments 2023-10-31 11034292 frs-core:ComputerEquipment 2023-10-31 11034292 frs-core:ComputerEquipment 2022-11-01 2023-10-31 11034292 frs-core:ComputerEquipment 2022-10-31 11034292 frs-core:MotorVehicles 2023-10-31 11034292 frs-core:MotorVehicles 2022-11-01 2023-10-31 11034292 frs-core:MotorVehicles 2022-10-31 11034292 frs-core:PlantMachinery 2023-10-31 11034292 frs-core:PlantMachinery 2022-11-01 2023-10-31 11034292 frs-core:PlantMachinery 2022-10-31 11034292 frs-core:ShareCapital 2023-10-31 11034292 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 11034292 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11034292 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 11034292 frs-bus:SmallEntities 2022-11-01 2023-10-31 11034292 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11034292 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11034292 frs-bus:Director1 2022-11-01 2023-10-31 11034292 frs-countries:EnglandWales 2022-11-01 2023-10-31 11034292 2021-10-31 11034292 2022-10-31 11034292 2021-11-01 2022-10-31 11034292 frs-core:CurrentFinancialInstruments 2022-10-31 11034292 frs-core:Non-currentFinancialInstruments 2022-10-31 11034292 frs-core:ShareCapital 2022-10-31 11034292 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 11034292
Platinum Car Centre UK Limited
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11034292
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 126,785 136,328
126,785 136,328
CURRENT ASSETS
Stocks 4 417,602 516,501
Debtors 5 4,295 40,101
Cash at bank and in hand 43,744 15,733
465,641 572,335
Creditors: Amounts Falling Due Within One Year 6 (269,534 ) (418,606 )
NET CURRENT ASSETS (LIABILITIES) 196,107 153,729
TOTAL ASSETS LESS CURRENT LIABILITIES 322,892 290,057
Creditors: Amounts Falling Due After More Than One Year 7 (31,720 ) (51,501 )
NET ASSETS 291,172 238,556
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 291,072 238,456
SHAREHOLDERS' FUNDS 291,172 238,556
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Alford
Director
31st July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 7% Reducing balance
Motor Vehicles 7% Reducing balance
Computer Equipment 7% Reducing balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 26,644 138,533 9,600 174,777
As at 31 October 2023 26,644 138,533 9,600 174,777
Depreciation
As at 1 November 2022 5,565 32,212 672 38,449
Provided during the period 1,476 7,442 625 9,543
As at 31 October 2023 7,041 39,654 1,297 47,992
Net Book Value
As at 31 October 2023 19,603 98,879 8,303 126,785
As at 1 November 2022 21,079 106,321 8,928 136,328
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4. Stocks
2023 2022
£ £
Stock 417,602 516,501
5. Debtors
2023 2022
£ £
Due within one year
Other debtors - 40,101
VAT 4,295 -
4,295 40,101
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,435 203,459
Bank loans and overdrafts 22,246 22,246
Other loans 170,000 -
Corporation tax 33,208 37,458
Other creditors 18,600 151,301
Accruals and deferred income 3,050 900
Director's loan account 9,995 3,242
269,534 418,606
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 31,720 51,501
31,720 51,501
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. General Information
Platinum Car Centre UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11034292 . The registered office is 291 Ham Drive, Pplymouth, PL2 3NH.
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