COMPANY REGISTRATION NUMBER:
10756881
|
PLATINUM LIFESTYLE PROPERTIES LIMITED |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
PLATINUM LIFESTYLE PROPERTIES LIMITED |
|
|
Abridged Statement of Financial Position |
|
31 May 2024
Fixed assets
|
Tangible assets |
4 |
1,764,407 |
1,764,407 |
|
|
|
|
Current assets
|
Debtors |
38,054 |
38,054 |
|
Cash at bank and in hand |
107 |
1,705 |
|
-------- |
-------- |
|
38,161 |
39,759 |
|
|
|
|
Creditors: amounts falling due within one year |
408,444 |
413,061 |
|
--------- |
--------- |
|
Net current liabilities |
370,283 |
373,302 |
|
------------ |
------------ |
|
Total assets less current liabilities |
1,394,124 |
1,391,105 |
|
|
|
|
Creditors: amounts falling due after more than one year |
(
1,471,370) |
(
1,435,068) |
|
------------ |
------------ |
|
Net liabilities |
(
77,246) |
(
43,963) |
|
------------ |
------------ |
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
(
77,247) |
(
43,964) |
|
-------- |
-------- |
|
Shareholders deficit |
(
77,246) |
(
43,963) |
|
-------- |
-------- |
|
|
|
These abridged 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 statement of income and retained earnings has not been delivered.
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 abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
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PLATINUM LIFESTYLE PROPERTIES LIMITED |
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|
Abridged Statement of Financial Position (continued) |
|
31 May 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
18 September 2025
, and are signed on behalf of the board by:
Company registration number:
10756881
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PLATINUM LIFESTYLE PROPERTIES LIMITED |
|
|
Notes to the Abridged Financial Statements |
|
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Lambert Road, London, N12 9ES.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rental income receivable. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 June 2023 and 31 May 2024 |
1,764,407 |
|
------------ |
|
Depreciation |
|
|
At 1 June 2023 and 31 May 2024 |
– |
|
------------ |
|
Carrying amount |
|
|
At 31 May 2024 |
1,764,407 |
|
------------ |
|
At 31 May 2023 |
1,764,407 |
|
------------ |
|
|
The company's investment property was revalued on a fair value basis by the director on 31 May 2024
.
5.
Creditors
Creditors falling due within one year and falling due after more than one year include amounts which are secured by the company.