PLATINUM HARBOR CIC

Company limited by guarantee

Company Registration Number:
14262001 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

PLATINUM HARBOR CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PLATINUM HARBOR CIC

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The directors present their report and accounts for the year ended 31 July 2024. Principal activities The company's principal activity during the year continued to be Other letting and operating of own or leased real estate Directors The following persons served as directors during the year: Chukwugozie UCHEGBU Kosi UCHEGBU



Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

Chukwugozie UCHEGBU
Kosi UCHEGBU


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
4 April 2025

And signed on behalf of the board by:
Name: Chukwugozie UCHEGBU
Status: Director

PLATINUM HARBOR CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 100,724 73,258
Cost of sales: ( 67,736 ) ( 58,777 )
Gross profit(or loss): 32,988 14,481
Administrative expenses: ( 33,029 ) ( 14,662 )
Operating profit(or loss): (41) (181)
Profit(or loss) before tax: (41) (181)
Profit(or loss) for the financial year: (41) (181)

PLATINUM HARBOR CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 46 1
Total current assets: 46 1
Creditors: amounts falling due within one year: 3 ( 268 ) ( 182 )
Net current assets (liabilities): (222) (181)
Total assets less current liabilities: (222) ( 181)
Total net assets (liabilities): (222) (181)
Members' funds
Profit and loss account: (222) ( 181)
Total members' funds: ( 222) (181)

The notes form part of these financial statements

PLATINUM HARBOR CIC

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 4 April 2025
and signed on behalf of the board by:

Name: Chukwugozie UCHEGBU
Status: Director

The notes form part of these financial statements

PLATINUM HARBOR CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 goods and from the rendering of services. 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.

PLATINUM HARBOR CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

PLATINUM HARBOR CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 268 182
Total 268 182

COMMUNITY INTEREST ANNUAL REPORT

PLATINUM HARBOR CIC

Company Number: 14262001 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

Platinum Harbor CIC is a community interest company that specializes in acquiring residential properties on lease hold, and renting the acquired houses for residential use to individuals recovering from various mental illnesses and most coming from long stays in hospitals as well as mental institutions. Normally these individuals will not have credit history, cannot get references from previous landlords and probably never worked and has no previous experience of maintaining tenancy. They will not normally meet the criteria set by landlords in other to be able to rent and live in a house. Working with mental health support providers, Platinum Harbor CIC ensures that these vulnerable adults get a place to live while being supported to reintegrate back to communal life. These houses are furnished and meet all housing regulation standards. This accommodation is provided to them at the social housing rates and are supported to maintain their tenancy, maintain the accommodation. Repairs, cleaning and general maintenance is carried out to ensure the tenants live in a safe and clean home. As at today in this country, people wait years on the housing list, it is difficult for even working class individuals to get on the property ladder as well as get social housing but from our endeavors in our local communities, we have been able to provide suitable accommodations to the most vulnerable individuals in our communities, our effort ensures that people who are well enough to go home from the various hospitals, mental health institutions and recovery addicts get a decent place to live whilst the bed spaces in the hospital is freed up for those that really need them.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 April 2025

And signed on behalf of the board by:
Name: Chukwugozie UCHEGBU
Status: Director