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PLATINUM INTERIORS ESSEX LIMITED

Registered Number
10167405
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

PLATINUM INTERIORS ESSEX LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

ROBERTS, Daniel Gary

Company Secretary

ROBERTS, Daniel Gary

Registered Address

Kenil, Kenilworth Grove
Thorpe-Le-Soken
Clacton-On-Sea
CO16 0LX

Registered Number

10167405 (England and Wales)
PLATINUM INTERIORS ESSEX LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets317,54723,396
17,54723,396
Current assets
Stocks4500400
Debtors26,87820,303
Cash at bank and on hand3,8288,568
31,20629,271
Creditors amounts falling due within one year5(31,967)(47,293)
Net current assets (liabilities)(761)(18,022)
Total assets less current liabilities16,7865,374
Creditors amounts falling due after one year6(13,451)-
Provisions for liabilities8(3,334)-
Net assets15,374
Capital and reserves
Called up share capital11
Profit and loss account-5,373
Shareholders' funds15,374
The financial statements were approved and authorised for issue by the Director on 19 July 2024, and are signed on its behalf by:
ROBERTS, Daniel Gary
Director
Registered Company No. 10167405
PLATINUM INTERIORS ESSEX LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 June 232,34930,95033,299
At 31 May 242,34930,95033,299
Depreciation and impairment
At 01 June 231,5148,3899,903
Charge for year2095,6405,849
At 31 May 241,72314,02915,752
Net book value
At 31 May 2462616,92117,547
At 31 May 2383522,56123,396
4.Stocks

2024

2023

££
Other stocks500400
Total500400
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,83611,787
Bank borrowings and overdrafts5,8865,230
Taxation and social security6,2774,054
Finance lease and HP contracts3,41720,284
Other creditors7,5515,938
Total31,96747,293
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors13,451-
Total13,451-
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts13,451-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,334-
Total3,334-