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REGISTERED NUMBER: 05602850 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

Platinum Motorcycles Ltd

Platinum Motorcycles Ltd (Registered number: 05602850)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Platinum Motorcycles Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J C Rowland
Mrs M J Rowland





SECRETARY: Mrs M J Rowland





REGISTERED OFFICE: Sherwood House
41 Queens Road
Farnborough
Hampshire
GU14 6JP





REGISTERED NUMBER: 05602850 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

Platinum Motorcycles Ltd (Registered number: 05602850)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,149 2,780

CURRENT ASSETS
Stocks 7,999 18,099
Cash at bank 73,056 90,812
81,055 108,911
CREDITORS
Amounts falling due within one year 5 60,257 78,946
NET CURRENT ASSETS 20,798 29,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,947

32,745

CREDITORS
Amounts falling due after more than one year 6 20,833 30,833
NET ASSETS 2,114 1,912

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,104 1,902
SHAREHOLDERS' FUNDS 2,114 1,912

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





J C Rowland - Director


Platinum Motorcycles Ltd (Registered number: 05602850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Platinum Motorcycles 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 represents net invoiced sales of goods, excluding value added tax. Income is recognised when motorbikes are collected or delivered.

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 reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

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 period comprises current tax, 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 not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date since the amount is not considered material.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 170 26,894 3,880 30,944
DEPRECIATION
At 1 January 2023 164 25,380 2,620 28,164
Charge for year 1 378 252 631
At 31 December 2023 165 25,758 2,872 28,795
NET BOOK VALUE
At 31 December 2023 5 1,136 1,008 2,149
At 31 December 2022 6 1,514 1,260 2,780

Platinum Motorcycles Ltd (Registered number: 05602850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 1,800
Taxation and social security 4,166 5,041
Other creditors 46,091 62,105
60,257 78,946

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 20,833 30,833