Registered number
SC738090
Platinum Properties & Investments Fife Ltd
Filleted Accounts
31 July 2024
Platinum Properties & Investments Fife Ltd
Registered number: SC738090
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 598,125 320,440
Current assets
Cash at bank and in hand 55,249 8,926
Creditors: amounts falling due within one year 4 (5,643) (475)
Net current assets 49,606 8,451
Total assets less current liabilities 647,731 328,891
Creditors: amounts falling due after more than one year 5 (633,912) (339,697)
Net assets/(liabilities) 13,819 (10,806)
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,719 (10,906)
Shareholders' funds 13,819 (10,806)
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 members have 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.
M Mukhtar
Director
Approved by the board on 14 January 2025
Platinum Properties & Investments Fife Ltd
Notes to the Accounts
for the year ended 31 July 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 sale of property and from lettings income
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 period
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 320,440
Additions 277,685
At 31 July 2024 598,125
Depreciation
At 31 July 2024 -
Net book value
At 31 July 2024 598,125
At 31 July 2023 320,440
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,473 -
Other creditors 1,170 475
5,643 475
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's account 463,912 169,697
Star News (Fife) Ltd 170,000 170,000
633,912 339,697
6 Other information
Platinum Properties & Investments Fife Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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