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Registration number: 08145335

Platanos Development Limited

Filleted Financial Statements

for the Year Ended 31 August 2024

 

Platanos Development Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Platanos Development Limited

Company Information

Director

A T Alabi

Registered office

Platanos College
Clapham Road
Stockwell
London SW9 0AL

Auditors

Carbon Accountancy Limited
Chartered Accountants and Statutory Auditors
80-83 Long Lane
London
EC1A 9ET

 

Platanos Development Limited

(Registration number: 08145335)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

56,063

79,290

Current assets

 

Debtors

5

30,556

44,717

Cash at bank and in hand

 

1,918

16,850

 

32,474

61,567

Creditors: Amounts falling due within one year

6

(224,348)

(131,483)

Net current liabilities

 

(191,874)

(69,916)

Total assets less current liabilities

 

(135,811)

9,374

Provisions for liabilities

(4,072)

(9,370)

Net (liabilities)/assets

 

(139,883)

4

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

(139,887)

-

Shareholders' (deficit)/funds

 

(139,883)

4

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 August 2025
 

.........................................
A T Alabi
Director

 

Platanos Development Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Platanos College
Clapham Road
Stockwell
London SW9 0AL

These financial statements were authorised for issue by the director on 20 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company has a balance sheet deficit of £139,883, having a trading loss of £139,887. The director has considered the group’s financial position and forecast cash flows for the foreseeable future, which includes at least 12 months from the date of signing these accounts.
The parent company has confirmed its intention to provide the necessary financial support to enable the entity to meet its liabilities as they fall due. Based on these assurances, the director has concluded that the preparation of the financial statements on a going concern basis remains appropriate.

 

Platanos Development Limited

Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 20 August 2025 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

20% straight line

 

Platanos Development Limited

Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Motor vehicles

25% straight line

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Gift aid

The company donates its distributable profits to its parent charity under the Gift Aid scheme. In accordance with FRS 102 Section 29, Gift Aid payments are accounted for as distributions rather than expenses in the financial statements.
A liability for the payment is only recognised when the company has a present obligation at the reporting date, either through a legal obligation or a constructive obligation, as determined by the approval of the directors prior to the financial statements being authorised for issue.
Where a Gift Aid donation is probable and expected to be paid within nine months of the reporting date, the related corporation tax liability is calculated based on the assumption that the Gift Aid donation will be applied to offset taxable profits.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 34 (2023 - 35).

 

Platanos Development Limited

Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

91,249

38,853

1,979

31,886

At 31 August 2024

91,249

38,853

1,979

31,886

Depreciation

At 1 September 2023

42,319

36,157

1,979

4,222

Charge for the year

16,310

2,696

-

4,221

At 31 August 2024

58,629

38,853

1,979

8,443

Carrying amount

At 31 August 2024

32,620

-

-

23,443

At 31 August 2023

48,930

2,696

-

27,664

Total
£

Cost or valuation

At 1 September 2023

163,967

At 31 August 2024

163,967

Depreciation

At 1 September 2023

84,677

Charge for the year

23,227

At 31 August 2024

107,904

Carrying amount

At 31 August 2024

56,063

At 31 August 2023

79,290

5

Debtors

Current

2024
£

2023
£

Trade debtors

24,168

38,977

Prepayments

-

5,740

Other debtors

6,388

-

 

30,556

44,717

 

Platanos Development Limited

Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

81,295

20,726

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

70,663

64,963

Taxation and social security

 

63,561

36,122

Accruals and deferred income

 

4,750

7,150

Other creditors

 

4,079

2,522

 

224,348

131,483

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of payment and are repayable on demand.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

8

Gift aid

Gift Aid payment

   

2024
£

 

2023
£

Gift Aid

 

-

 

7,962

         
 

Platanos Development Limited

Notes to the Financial Statements for the Year Ended 31 August 2024 (continued)

9

Related party transactions

Summary of transactions with parent
The Platanos Trust
(Parent)

During the year the company recharged amount totalling £1,794,510 (2022: £1,802,208) in relation to services rendered to the academies under them. At the year-end The Platanos Trust owes £24,168(2023:£38,977) in relation to the service rendered to academies. This amount is included in Trade debtor balance in the balance sheet.

At the balance sheet date amount due to Platanos Trust in relation to short term loan advance was £70,663 (2023 - £64,963). The loan is interest free and repayable on demand.

10

Parent and ultimate parent undertaking

The company's immediate parent is Platanos Trust, incorporated in England and Wales, with registered office address at Clapham Road, London, SW9 0AL.