Platinum Motorcycles Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05602850 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

Platinum Motorcycles Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J C Rowland

Mrs M J Rowland

SECRETARY:

Mrs M J Rowland

REGISTERED OFFICE:

Sherwood House

41 Queens Road

Farnborough

Hampshire

GU14 6JP

REGISTERED NUMBER:

05602850 (England and Wales)

ACCOUNTANTS:

Jones & Co

Sherwood House

41 Queens Road

Farnborough

Hants

GU14 6JP

FIXED ASSETS

Tangible assets

4

1,662

2,149

CURRENT ASSETS

Stocks

7,150

7,999

Cash at bank

57,373

73,056

64,523

81,055

CREDITORS

Amounts falling due within one year

5

52,868

60,257

NET CURRENT ASSETS

11,655

20,798

TOTAL ASSETS LESS CURRENT LIABILITIES

13,317

22,947

CREDITORS

Amounts falling due after more than one year

6

10,833

20,833

NET ASSETS

2,484

2,114

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

2,474

2,104

SHAREHOLDERS' FUNDS

2,484

2,114

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 directors acknowledge their 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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

J C Rowland - Director

1.	STATUTORY INFORMATION

Platinum Motorcycles Ltd is a private company, limited by shares , registered in England and Wales. 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

Turnover represents net invoiced sales of goods, excluding value added tax. Income is recognised when motorbikes are collected or delivered.

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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current tax, 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.

Deferred tax

Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date since the amount is not considered material.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

170

26,894

3,880

30,944

DEPRECIATION

At 1 January 2024

165

25,758

2,872

28,795

Charge for year

1

284

202

487

At 31 December 2024

166

26,042

3,074

29,282

NET BOOK VALUE

At 31 December 2024

4

852

806

1,662

At 31 December 2023

5

1,136

1,008

2,149

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,000

Taxation and social security

5,027

4,166

Other creditors

37,841

46,091