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REGISTERED NUMBER: 05027185 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PLATINUM SECURITY LIMITED

PLATINUM SECURITY LIMITED (REGISTERED NUMBER: 05027185)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Report of the Accountants 2

Statement of Financial Position 3

Notes to the Financial Statements 5


PLATINUM SECURITY LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: D F Bowers
T R Harris





SECRETARY: D F Bowers





REGISTERED OFFICE: 125 Albany Road
Hornchruch
Essex
RM12 4AQ





REGISTERED NUMBER: 05027185 (England and Wales)





ACCOUNTANTS: Accounting Financial Services Limited
1 Vale Cottages
High Ongar Road
Ongar
Essex
CM5 9LZ

PLATINUM SECURITY LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
PLATINUM SECURITY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Accounting Financial Services Limited
1 Vale Cottages
High Ongar Road
Ongar
Essex
CM5 9LZ


8 October 2024

PLATINUM SECURITY LIMITED (REGISTERED NUMBER: 05027185)

STATEMENT OF FINANCIAL POSITION
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,938 17,476

CURRENT ASSETS
Stocks 4,125 3,966
Debtors 5 108,137 103,973
Cash at bank and in hand 70,296 22,490
182,558 130,429
CREDITORS
Amounts falling due within one year 6 119,064 94,076
NET CURRENT ASSETS 63,494 36,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,432

53,829

PROVISIONS FOR LIABILITIES 8,825 8,825
NET ASSETS 69,607 45,004

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 69,605 45,002
SHAREHOLDERS' FUNDS 69,607 45,004

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

PLATINUM SECURITY LIMITED (REGISTERED NUMBER: 05027185)

STATEMENT OF FINANCIAL POSITION - continued
31 January 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 Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





T R Harris - Director


PLATINUM SECURITY LIMITED (REGISTERED NUMBER: 05027185)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Platinum Security 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 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 etc - 25% 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 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.

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 NIL (2023 - 8 ).

PLATINUM SECURITY LIMITED (REGISTERED NUMBER: 05027185)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 February 2023 29,008 12,425 17,180 18,557 77,170
Additions - - 4,545 - 4,545
Disposals - - (4,545 ) - (4,545 )
At 31 January 2024 29,008 12,425 17,180 18,557 77,170
Depreciation
At 1 February 2023 16,766 11,174 14,539 17,215 59,694
Charge for year 4,181 250 633 102 5,166
Eliminated on disposal - - (2,628 ) - (2,628 )
At 31 January 2024 20,947 11,424 12,544 17,317 62,232
Net book value
At 31 January 2024 8,061 1,001 4,636 1,240 14,938
At 31 January 2023 12,242 1,251 2,641 1,342 17,476

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 107,046 93,606
Other debtors 1,091 10,367
108,137 103,973

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,313 3,356
Trade creditors 47,882 52,171
Taxation and social security 55,289 36,969
Other creditors 1,580 1,580
119,064 94,076