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REGISTERED NUMBER: 11269244 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

FOR

PLATINUM MILE LIMITED

PLATINUM MILE LIMITED (REGISTERED NUMBER: 11269244)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLATINUM MILE LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: K Winter-Hutton





REGISTERED OFFICE: Swatton Barn
The Old Dairy
Badbury
Swindon
Wiltshire
SN4 0EU





REGISTERED NUMBER: 11269244 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

PLATINUM MILE LIMITED (REGISTERED NUMBER: 11269244)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,083
Tangible assets 5 8,835 12,359
8,835 13,442

CURRENT ASSETS
Debtors 6 45,833 9,057
Cash at bank and in hand 2,517 13,299
48,350 22,356
CREDITORS
Amounts falling due within one year 7 34,055 46,637
NET CURRENT ASSETS/(LIABILITIES) 14,295 (24,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,130

(10,839

)

CREDITORS
Amounts falling due after more than one
year

8

23,495

28,753
NET LIABILITIES (365 ) (39,592 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (366 ) (39,593 )
SHAREHOLDERS' FUNDS (365 ) (39,592 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 MILE LIMITED (REGISTERED NUMBER: 11269244)

BALANCE SHEET - continued
31 March 2024


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 7 August 2024 and were signed by:





K Winter-Hutton - Director


PLATINUM MILE LIMITED (REGISTERED NUMBER: 11269244)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Platinum Mile 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Franchise fee are being amortised evenly over their estimated useful life of five years.

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 etc - 25% straight line basis and 20% straight line basis

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 MILE LIMITED (REGISTERED NUMBER: 11269244)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

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 22 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 6,500
AMORTISATION
At 1 April 2023 5,417
Charge for year 1,083
At 31 March 2024 6,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,083

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 33,553
Additions 3,000
At 31 March 2024 36,553
DEPRECIATION
At 1 April 2023 21,194
Charge for year 6,524
At 31 March 2024 27,718
NET BOOK VALUE
At 31 March 2024 8,835
At 31 March 2023 12,359

PLATINUM MILE LIMITED (REGISTERED NUMBER: 11269244)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,918 1,386
Other debtors 26,915 7,671
45,833 9,057

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,284 6,013
Trade creditors 1,031 913
Taxation and social security 14,270 25,340
Other creditors 10,470 14,371
34,055 46,637

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 23,495 28,753

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
K Winter-Hutton
Balance outstanding at start of year (4,717 ) (52,853 )
Amounts advanced 51,631 59,048
Amounts repaid (19,852 ) (10,912 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,062 (4,717 )

10. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market
conditions, including dividend payments to it's shareholders.

Included within other debtors at 31st March 2024 is £27,062 owed by the director. During the year,
directors were advanced £51,631, and they repaid £19,852.

11. LOANS WITH PARTICIPATORS

During the year, a Participator was advanced £51,631 and they repaid £28,717.16.

Interest was charged at the official rate of 2.5%.