PLATINUM PRESS LIMITED - Filleted accounts

Registered number

05008685

PLATINUM PRESS LIMITED

Filleted Accounts

31 December 2024

PLATINUM PRESS LIMITED
Registered number:		05008685
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		3,865			4,575
Tangible assets	4		183,236			126,295
			187,101			130,870
Current assets
Stocks		50			50
Debtors	5	34,720			19,705
Cash at bank and in hand		29,389			73,074
		64,159			92,829

Creditors: amounts falling due within one year	6	(162,954)			(159,304)

Net current liabilities			(98,795)			(66,475)

Total assets less current liabilities			88,306			64,395

Creditors: amounts falling due after more than one year	7		(27,913)			(21,107)

Provisions for liabilities			(5,000)			-

Net assets			55,393			43,288

Capital and reserves
Called up share capital			100			100
Profit and loss account			55,293			43,188

Shareholders' funds			55,393			43,288

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richard Langeveld
Director
Approved by the board on 29 September 2025

PLATINUM PRESS LIMITED
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Plant and machinery			over 3 years
	Motor Vehicles			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Going Concern
	The director has prepared the accounts on a going concern basis, based on the assurance of the continued financial support from the director. On the basis of this financial support, the Director believes that the Company is a going concern and therefore is able to meet its commitments as they fall due.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					1		1


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 January 2024							7,115
	At 31 December 2024							7,115

	Amortisation
	At 1 January 2024							2,540
	Provided during the year							710
	At 31 December 2024							3,250

	Net book value
	At 31 December 2024							3,865
	At 31 December 2023							4,575

	Intangible assets is being written off in equal annual instalments over 10 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	144,004		64,532		81,977		290,513
	Additions	22,024		13,147		39,920		75,091
	Disposals	-		-		(36,046)		(36,046)
	At 31 December 2024	166,028		77,679		85,851		329,558

	Depreciation
	At 1 January 2024	21,365		60,877		81,976		164,218
	Charge for the year	3,320		6,845		7,985		18,150
	On disposals	-		-		(36,046)		(36,046)
	At 31 December 2024	24,685		67,722		53,915		146,322

	Net book value
	At 31 December 2024	141,343		9,957		31,936		183,236
	At 31 December 2023	122,639		3,655		1		126,295
	Building represents new offices being constructed for the business use. Amortisation is provided at 2% on cost.


5	Debtors					2024		2023
£							£

	Trade debtors					13,862		3,692
	VAT Receivable					20,858		16,013
						34,720		19,705


6	Creditors: amounts falling due within one year					2024		2023
£							£

	Director's Loan					64,350		68,843
	Bank loans and overdrafts					10,128		10,115
	Obligations under finance lease and hire purchase contracts					8,245		-
	Trade creditors					25,131		18,776
	Taxation and social security costs					-		7,970
	Other creditors					55,100		53,600
						162,954		159,304

	At the end of the year the company owed the director £64,350. The director's balance
	is free of interest and is payable on demand.

7	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					10,969		21,107
	Obligations under finance lease and hire purchase contracts					16,944		-
						27,913		21,107
	Bank loan is repayable by monthy instalments over 5 years.
	The repayment starts in January 2022.
	Interest is charged at 2.5% per annum.
	The proportion of the loan payable in the next twelve months is shown in creditors due
	within one year.


8	Controlling party

	The company is controlled by Mr R J Langeveld by the virtue of his 100% shareholding in the company.


9	Other information

	PLATINUM PRESS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Calders Cottage
	The Putteridge Bury Estate
	Hertfordshire
	LU2 8LB