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Company Registration No. 10120917 (England and Wales)
Platinum Car Sales Ltd Unaudited accounts for the year ended 31 May 2025
Platinum Car Sales Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Platinum Car Sales Ltd Company Information for the year ended 31 May 2025
Director
william j morgan
Company Number
10120917 (England and Wales)
Registered Office
Unit 1b Carfartha Industrial estate Merthyr Tydfil Merthyr Tydfil CF47 8PE Wales
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Platinum Car Sales Ltd Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
87,091
38,613
Current assets
Inventories
1,037,912
766,042
Debtors
5
(723,813)
27,970
Cash at bank and in hand
88,263
38,005
402,362
832,017
Creditors: amounts falling due within one year
6
313,976
(250,100)
Net current assets
716,338
581,917
Total assets less current liabilities
803,429
620,530
Creditors: amounts falling due after more than one year
7
(385,618)
(326,000)
Net assets
417,811
294,530
Capital and reserves
Called up share capital
8
210,588
210,588
Profit and loss account
207,223
83,942
Shareholders' funds
417,811
294,530
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 February 2026 and were signed on its behalf by
william j morgan Director Company Registration No. 10120917
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Platinum Car Sales Ltd Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Platinum Car Sales Ltd is a private company, limited by shares, registered in England and Wales, registration number 10120917. The registered office is Unit 1b, Carfartha Industrial estate, Merthyr Tydfil, Merthyr Tydfil, CF47 8PE, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
18%
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 June 2024
43,778
22,666
66,444
Additions
-
67,596
67,596
At 31 May 2025
43,778
90,262
134,040
Depreciation
At 1 June 2024
15,080
12,751
27,831
Charge for the year
5,166
13,952
19,118
At 31 May 2025
20,246
26,703
46,949
Net book value
At 31 May 2025
23,532
63,559
87,091
At 31 May 2024
28,698
9,915
38,613
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
-
24,386
Trade debtors
(723,813)
3,584
(723,813)
27,970
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Platinum Car Sales Ltd Notes to the Accounts for the year ended 31 May 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
(20,200)
-
VAT
(30,928)
-
Obligations under finance leases and hire purchase contracts
(261,577)
262,100
Trade creditors
(1,271)
-
Proposed dividends
-
(12,000)
(313,976)
250,100
2 finance companies providing loans secured on stock for varying amount of times.
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
30,000
Loans from directors
385,618
296,000
385,618
326,000
Barclays bank bounce back loan. Security free loan Backed by HMG
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
210,588 Ordinary shares of £1 each
210,588
210,588
9
Average number of employees
During the year the average number of employees was 5 (2024: 5).
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