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Sage Accounts Production 23.0 - FRS102_2023
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xbrli:shares
iso4217:GBP
12639910
2023-06-01
2024-05-31
12639910
2024-05-31
12639910
2023-05-31
12639910
2022-06-01
2023-05-31
12639910
2023-05-31
12639910
2022-05-31
12639910
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2024-05-31
12639910
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2024-05-31
12639910
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2023-06-01
2024-05-31
12639910
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2024-05-31
12639910
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2023-06-01
2024-05-31
12639910
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2023-05-31
12639910
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2023-05-31
12639910
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2024-05-31
12639910
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2024-05-31
12639910
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2024-05-31
12639910
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2023-05-31
12639910
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2024-05-31
12639910
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2023-05-31
12639910
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2023-06-01
2024-05-31
12639910
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2023-06-01
2024-05-31
12639910
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2024-05-31
12639910
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2023-05-31
12639910
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12639910
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12639910
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12639910
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2023-05-31
12639910
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2023-05-31
12639910
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2023-05-31
12639910
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12639910
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12639910
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2024-05-31
Platinum Security Services Limited
Filleted accounts
31 May 2024
Company registration number:
12639910
Platinum Security Services Limited
Directors and other information
|
|
|
|
Director |
B G Gristwood |
|
|
|
|
|
|
|
Secretary |
S E Gristwood |
|
|
|
|
|
|
|
Company number |
12639910 |
|
|
|
|
|
|
|
Registered office |
The Barn Fairview Cottage |
|
|
Haremore Farm |
|
|
Faringdon |
|
|
Oxon |
|
|
SN7 8PN |
|
|
|
|
|
|
|
Accountants |
Cox Hinkins & Co. Limited |
|
|
Accountants and Taxation Advisors |
|
|
The Old Dairy |
|
|
12 Stephen Road |
|
|
Headington |
|
|
Oxford |
|
|
OX3 9AY |
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|
Platinum Security Services Limited
Balance sheet
31st May 2024
|
|
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2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
74,193 |
|
|
|
55,056 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
74,193 |
|
|
|
55,056 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
305,985 |
|
|
|
205,489 |
|
|
Cash at bank and in hand |
|
|
974 |
|
|
|
12,270 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
306,959 |
|
|
|
217,759 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
257,691) |
|
|
|
(
164,700) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
49,268 |
|
|
|
53,059 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
123,461 |
|
|
|
108,115 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
12,201) |
|
|
|
(
20,448) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
111,260 |
|
|
|
87,667 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
1 |
|
|
|
1 |
Profit and loss account |
|
|
|
|
111,259 |
|
|
|
87,666 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
111,260 |
|
|
|
87,667 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
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|
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
B G Gristwood
Director
Company registration number:
12639910
Platinum Security Services Limited
Notes to the financial statements
Year ended 31st May 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Barn Fairview Cottage, Haremore Farm, Faringdon, Oxon, SN7 8PN. The company's principal activity during the year was
the provision of security services
.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Equipment |
- |
Straight line basis over 3 years |
|
Motor vehicles |
- |
Reducing balance basis at 25% per annum |
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Hire purchase and finance leases
Assets held under finance leases are recognised in the Balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
55
(2023:
60
).
5.
Tangible assets
|
|
Equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st June 2023 |
2,633 |
64,749 |
67,382 |
|
|
|
|
|
Additions |
3,066 |
37,977 |
41,043 |
|
|
|
|
|
Disposals |
- |
(
3,000) |
(
3,000) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31st May 2024 |
5,699 |
99,726 |
105,425 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1st June 2023 |
1,358 |
10,968 |
12,326 |
|
|
|
|
|
Charge for the year |
1,615 |
18,780 |
20,395 |
|
|
|
|
|
Disposals |
- |
(
1,489) |
(
1,489) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31st May 2024 |
2,973 |
28,259 |
31,232 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st May 2024 |
2,726 |
71,467 |
74,193 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31st May 2023 |
1,275 |
53,781 |
55,056 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
292,900 |
178,757 |
|
Other debtors |
|
13,085 |
26,732 |
|
|
|
_______ |
_______ |
|
|
|
305,985 |
205,489 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
9,797 |
5,735 |
|
Social security and other taxes |
|
108,721 |
92,467 |
|
Other creditors |
|
139,173 |
66,498 |
|
|
|
_______ |
_______ |
|
|
|
257,691 |
164,700 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Other creditors includes £8,248 (2023: £7,474) which are secured on the company's assets.
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
12,201 |
20,448 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Other creditors are secured on the company's assets.
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The company is under the control of
B G Gristwood
who owns 100% of the issued share capital.