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Registered number: 06445708
Platinum (Sri) Financial Services Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06445708
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 33,750 48,750
Tangible Assets 5 29 38
33,779 48,788
CURRENT ASSETS
Debtors 6 125 125
Cash at bank and in hand 11,349 109,903
11,474 110,028
Creditors: Amounts Falling Due Within One Year 7 (20,837 ) (40,267 )
NET CURRENT ASSETS (LIABILITIES) (9,363 ) 69,761
TOTAL ASSETS LESS CURRENT LIABILITIES 24,416 118,549
PROVISIONS FOR LIABILITIES
Deferred Taxation (7 ) (10 )
NET ASSETS 24,409 118,539
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 24,407 118,537
SHAREHOLDERS' FUNDS 24,409 118,539
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Booth
Director
23rd January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Platinum (Sri) Financial Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06445708 . The registered office is Richmond House, Heath Road, Hale, Altrincham, WA14 2XP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts.

The company sells independent financial services. All income is received from Retail Investment Products and is received on an annual percentage basis and is paid monthly.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% on reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 150,000
As at 30 April 2024 150,000
Amortisation
As at 1 May 2023 101,250
Provided during the period 15,000
As at 30 April 2024 116,250
Net Book Value
As at 30 April 2024 33,750
As at 1 May 2023 48,750
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 334
As at 30 April 2024 334
Depreciation
As at 1 May 2023 296
Provided during the period 9
As at 30 April 2024 305
Net Book Value
As at 30 April 2024 29
As at 1 May 2023 38
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 125 125
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to participating interests 6,562 6,562
Other creditors 2 2
Taxation and social security 14,273 33,703
20,837 40,267
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8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 10 10
Deferred taxation (3 ) (3 )
Balance at 30 April 2024 7 7
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
10. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11. Off-Balance Sheet Arrangements
The company has a registration of charge with Vertus Capital SPV1 Limited that is not contained on the balance sheet. The charge was registered on 20th January 2022 and shares a cross-company guarantee between two other subsidiaries that are held within the group.
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