Registered number
12006452
Platinum Crest Global Limited
Filleted Accounts
31 May 2024
Platinum Crest Global Limited
Registered number: 12006452
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 135,466 -
Tangible assets 4 443,292 449,787
578,758 449,787
Current assets
Debtors 5 183,141 130,082
Cash at bank and in hand 86,410 123,093
269,551 253,175
Creditors: amounts falling due within one year 6 (141,864) (190,873)
Net current assets 127,687 62,302
Total assets less current liabilities 706,445 512,089
Creditors: amounts falling due after more than one year 7 (41,594) (9,762)
Provisions for liabilities - deferred tax (99,422) (111,383)
Net assets 565,429 390,944
Capital and reserves
Called up share capital 10 10
Profit and loss account 565,419 390,934
Shareholder's funds 565,429 390,944
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J P Viljoen
Director
Approved by the board on 19 November 2024
Platinum Crest Global Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services and 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.
Intangible fixed assets
Intangible fixed assets consists of software and app development costs. This is measured at cost less accumulative amortisation and any accumulative impairment losses. It is amortised over its estimated economic life of 4 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over 5 years
Motor vehicles over 5 years
Furniture and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 4
3 Intangible fixed assets £
Software:
Cost
Additions 180,622
At 31 May 2024 180,622
Amortisation
Provided during the year 45,156
At 31 May 2024 45,156
Net book value
At 31 May 2024 135,466
4 Tangible fixed assets
Leasehold improvements Furniture and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 132,128 520,840 111,650 764,618
Additions 7,225 170,134 46,254 223,613
At 31 May 2024 139,353 690,974 157,904 988,231
Depreciation
At 1 June 2023 52,058 225,593 37,180 314,831
Charge for the year 27,869 170,658 31,581 230,108
At 31 May 2024 79,927 396,251 68,761 544,939
Net book value
At 31 May 2024 59,426 294,723 89,143 443,292
At 31 May 2023 80,070 295,247 74,470 449,787
5 Debtors 2024 2023
£ £
Trade debtors 183,141 130,082
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 4,016 4,413
Obligations under finance lease and hire purchase contracts 4,974 -
Corporation tax 39,980 -
Other taxes and social security costs 25,307 23,486
Other creditors 67,587 162,974
141,864 190,873
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,194 9,762
Obligations under finance lease and hire purchase contracts 35,400 -
41,594 9,762
8 Other information
Platinum Crest Global Limited is a private company limited by shares and incorporated in England. Its registered office is:
St Georges House
Knoll Road, 2nd Floor
Camberley
GU15 3SY
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