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REGISTERED NUMBER: SC342944 (Scotland)




















Platinum Wave Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Platinum Wave Limited (Registered number: SC342944)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Platinum Wave Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mrs S McCafferty



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC342944 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: TSB
28 Hanover Street
Edinburgh
EH2 2DS

Platinum Wave Limited (Registered number: SC342944)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,611 -
Tangible assets 5 15,141 19,638
16,752 19,638

CURRENT ASSETS
Debtors 6 33,158 92,897
Cash at bank 20,186 113,669
53,344 206,566
CREDITORS
Amounts falling due within one year 7 57,418 95,338
NET CURRENT (LIABILITIES)/ASSETS (4,074 ) 111,228
TOTAL ASSETS LESS CURRENT LIABILITIES 12,678 130,866

CREDITORS
Amounts falling due after more than one
year

8

(5,248

)

(15,248

)

PROVISIONS FOR LIABILITIES (2,797 ) (5,114 )
NET ASSETS 4,633 110,504

Platinum Wave Limited (Registered number: SC342944)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,632 110,503
SHAREHOLDERS' FUNDS 4,633 110,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2025 and were signed by:





Mrs S McCafferty - Director


Platinum Wave Limited (Registered number: SC342944)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Platinum Wave Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents invoiced sales of services net of value added tax. Revenue is recognised when the service has been supplied to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 10% on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Platinum Wave Limited (Registered number: SC342944)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
Contributions payable to the director's pension scheme are charged to the profit and loss account in the period to which they relate.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 1,790
At 31 December 2024 1,790
AMORTISATION
Charge for year 179
At 31 December 2024 179
NET BOOK VALUE
At 31 December 2024 1,611

Platinum Wave Limited (Registered number: SC342944)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 37,832
DEPRECIATION
At 1 January 2024 18,194
Charge for year 4,497
At 31 December 2024 22,691
NET BOOK VALUE
At 31 December 2024 15,141
At 31 December 2023 19,638

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,600 92,897
Other debtors 20,558 -
33,158 92,897

Included within other debtors is a loan to the director. This loan is unsecured and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,726 14,357
Taxation and social security 35,700 63,528
Other creditors 3,992 7,453
57,418 95,338

Platinum Wave Limited (Registered number: SC342944)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,248 15,248

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mrs S McCafferty
Balance outstanding at start of year (21 ) (260 )
Amounts advanced 23,643 16,482
Amounts repaid (8,588 ) (16,243 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,034 (21 )