Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-318The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseOther business support service activities not elsewhere classified8truetruefalse 06687885 2023-04-01 2024-03-31 06687885 2022-04-01 2023-03-31 06687885 2024-03-31 06687885 2023-03-31 06687885 c:Director1 2023-04-01 2024-03-31 06687885 d:MotorVehicles 2023-04-01 2024-03-31 06687885 d:MotorVehicles 2024-03-31 06687885 d:MotorVehicles 2023-03-31 06687885 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06687885 d:CurrentFinancialInstruments 2024-03-31 06687885 d:CurrentFinancialInstruments 2023-03-31 06687885 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06687885 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06687885 d:ShareCapital 2024-03-31 06687885 d:ShareCapital 2023-03-31 06687885 d:OtherMiscellaneousReserve 2024-03-31 06687885 d:OtherMiscellaneousReserve 2023-03-31 06687885 d:RetainedEarningsAccumulatedLosses 2024-03-31 06687885 d:RetainedEarningsAccumulatedLosses 2023-03-31 06687885 c:FRS102 2023-04-01 2024-03-31 06687885 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06687885 c:FullAccounts 2023-04-01 2024-03-31 06687885 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06687885 6 2023-04-01 2024-03-31 06687885 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06687885










PLATINUM CONTROLS INSTALLATIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
REGISTERED NUMBER: 06687885

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
64,000
36,000

Investments
 6 
1,766,612
1,137,887

  
1,830,612
1,173,887

Current assets
  

Debtors: amounts falling due within one year
 7 
117,534
144,096

Cash at bank and in hand
  
8,942
1,976

  
126,476
146,072

Creditors: amounts falling due within one year
 8 
(320,230)
(187,660)

Net current liabilities
  
 
 
(193,754)
 
 
(41,588)

Total assets less current liabilities
  
1,636,858
1,132,299

Provisions for liabilities
  

Deferred tax
  
(441,653)
(218,120)

  
 
 
(441,653)
 
 
(218,120)

Net assets
  
1,195,205
914,179


Capital and reserves
  

Called up share capital 
  
69,727
69,727

Fair value reserve
  
1,326,484
921,293

Profit and loss account
  
(201,006)
(76,841)

  
1,195,205
914,179


Page 1

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
REGISTERED NUMBER: 06687885
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




Hudson Evans
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The principal activity of the company in the year under review was that of refractory services. The company's registered number and registered office address are:
Registered Number:               06687885
Registered office address:     19 J Shed Kings Road,
                                                   Swansea,
                                                       Wales,
                                                       SA1 8PL


2.


Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.Accounting policies

  
3.1

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis. The financial Statements are presented in Sterling (£).

  
3.2

Significant judgements and estimates

In the application of the company's policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised if it only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwsie, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Page 3

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.3

Going concern

After making enquries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseable future and to meet its financial obligations as they fall due. Accordingly, the directors continues to adopt the going concern basis in preparing the annual report and accounts.

 
3.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
3.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
3.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
3.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
3.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
3.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
3.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
3.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
3.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
3.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


4.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 6

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
95,375


Additions
64,000


Disposals
(48,000)



At 31 March 2024

111,375



Depreciation


At 1 April 2023
59,375


Charge for the year on owned assets
9,000


Disposals
(21,000)



At 31 March 2024

47,375



Net book value



At 31 March 2024
64,000



At 31 March 2023
36,000

Page 7

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Fixed asset investments





Investment in joint ventures

£



Cost or valuation


At 1 April 2023
1,137,887


Revaluations
628,725



At 31 March 2024
1,766,612




Page 8

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024 
£
2023
£


Amounts owed by joint ventures and associated undertakings
53,250
40,661

Other debtors
54,508
102,709

Prepayments and accrued income
779
726

Tax recoverable
8,997
-

117,534
144,096



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,589
263

Amounts owed to joint ventures and participating interests
209,675
70,059

Corporation tax
34,178
13,969

Other taxation and social security
38,344
28,374

Other creditors
33,444
71,345

Accruals and deferred income
3,000
3,650

320,230
187,660


2024
2023
        £
        £
H Evans

Balance outstanding at start of year

16,583

104,152
 
Amounts advanced

177,886

145,410
 
Amounts repaid

(213,675)

(232,979)
 
Amounts Written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

(19,206)

16,583
 

Page 9

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
£
£
T H Evans
Balance outstanding at start of year

(35,058)

64,470
 
Amounts advanced

130,380

233,008
 
Amounts repaid

(68,665)

(332,536)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
26,657

(35,058)
 

2024
2023
£
£
E Evans
Balance outstanding at start of year

(365)

(365)
 
Amounts advanced

-

-
 
Amounts repaid

-

-
 
Amounts written off

365

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
-

(365)
 

2024
2023
£
£
S Vincent
Balance outstanding at start of year

(5,813)

(2,554)
 
Amounts advanced

-

75,017
 
Amounts repaid

-

(78,276)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
(5,813)

(5,813)
 

2024
2023
        £
        £
D Roberts

Balance outstanding at start of year

(2,099)

(4,278)
 
Amounts advanced

10,208

7,953
 
Amounts repaid

(15,735)

(5,774)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

(7,626)

(2,099)
 

Page 10

 
PLATINUM CONTROLS INSTALLATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
£
£
M Weston
Balance outstanding at start of year

53,188

11,498
 
Amounts advanced

9,116

48,100
 
Amounts repaid

(60,595)

(6,410)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
1,709

53,188
 

2024
2023
        £
        £
G Manterfield

Balance outstanding at start of year

14,080

6,973
 
Amounts advanced

40,624

13,150
 
Amounts repaid

(48,957)

(6,043)
 
Amounts written

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

5,747

14,080
 


9.


Related party transactions

At the balance sheet date an amount of £53,250 (2023 - £40,661) owed by Moller PCI Limited, a joint venture company. The balance is unsecured, interest free, and repayable on demand.
At the balance sheet date an amount of £209,675 (2023 - £Nil) was owed to Moller PCI Limited, a joint venture company. The balance is unsecured, interest free, and repayable on demand. 
At the balance sheet date an amount of £Nil (2023 - £70,059) was owed to Platcon Limited, a company in which Platinum Control Installations Limited owed a participating interest. The balance is unsecured, interest free, and repayable on demand.

 
Page 11