REGISTERED NUMBER: 07788451 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

PLATINUM SUPPLIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Eshaq Patel

REGISTERED OFFICE:

531a High Road

Leytonstone

London

E11 4PB

REGISTERED NUMBER:

07788451 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

FIXED ASSETS

Tangible assets

4

9,948

9,057

CURRENT ASSETS

Stocks

369,358

245,452

Debtors

5

96,012

101,265

Cash at bank

29,309

147,616

494,679

494,333

CREDITORS

Amounts falling due within one year

6

231,255

218,576

NET CURRENT ASSETS

263,424

275,757

TOTAL ASSETS LESS CURRENT LIABILITIES

273,372

284,814

PROVISIONS FOR LIABILITIES

863

863

NET ASSETS

272,509

283,951

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

272,508

283,950

SHAREHOLDERS' FUNDS

272,509

283,951

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

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

The director acknowledges his 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 27 October 2025 and were signed by:

Mr Eshaq Patel - Director

1.	STATUTORY INFORMATION

Platinum Supplies 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 is measured as 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.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery - 20% Straight Line

Fixtures and Fittings - 20% Straight Line

Short Leasehold - 20% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted

prospectively if appropriate, or if there is an indication of a significant change since the last

reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying

amount and are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss

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.

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

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 November 2023

980

29,353

9,364

39,697

Additions

-

2,792

2,654

5,446

At 31 October 2024

980

32,145

12,018

45,143

DEPRECIATION

At 1 November 2023

980

22,742

6,918

30,640

Charge for year

-

2,969

1,586

4,555

At 31 October 2024

980

25,711

8,504

35,195

NET BOOK VALUE

At 31 October 2024

-

6,434

3,514

9,948

At 31 October 2023

-

6,611

2,446

9,057

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Other debtors

96,012

101,265

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade creditors

65,239

107,059

Taxation and social security

588

5,730

Other creditors

165,428

105,787

231,255

218,576

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.24

31.10.23

value:

£

£

1

Ordinary

1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24

31.10.23

£

£

Mr Eshaq Patel and Mr Eshaq Patel

Balance outstanding at start of year

(80,980

)

(62,726

)

Amounts repaid

(820

)

(18,254

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(81,800

)

(80,980

)