REGISTERED NUMBER: 16026292 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

18 OCTOBER 2024 TO 31 OCTOBER 2025

FOR

PLATINUM JETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D R Bungay

REGISTERED OFFICE:

10 John Street

London

United Kingdom

WC1N 2EB

REGISTERED NUMBER:

16026292 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

CURRENT ASSETS

Debtors

4

57,026

Cash at bank

167,362

224,388

CREDITORS

Amounts falling due within one year

5

426,263

NET CURRENT LIABILITIES

(201,875

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(201,875

)

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

(201,975

)

SHAREHOLDERS' FUNDS

(201,875

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2025 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 5 June 2026 and were signed by:

D R Bungay - Director

1.	STATUTORY INFORMATION

Platinum Jets 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.

The financial statements have been prepared on the going concern basis, as the director, D Bungay, has provided a commitment to provide any financial support which may be necessary in oder that the company can meet its liabilities, as they fall due, for a period in excess of 12 months and 1 day from the date of this report.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company acts as an agent in respect of the sale of aircraft charter services and other related travel services. Revenue is recognised once the flight has been completed and the service has been fully provided to the customer. Revenue recognised represents the commission receivable from customers. Amounts collected from customers relating to services provided by third parties are not recognised as revenue. Refunds are recognised in the period they occur.

Amounts received in advance are recognised as deferred income until the related service is performed.

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

Crypto Assets

Crypto assets held by the Company are included in current assets in the accompany Balance Sheet and are used solely as a medium of exchange to receive payments from customers and make payments to suppliers. The Company does not hold crypto assets for investment or trading purposes.

Crypto assets are recognised as current assets on the balance sheet at the transaction date when received. They are initially measured at the sterling equivalent fair value at the date of receipt, using the closing mid-market rate on the date of the transaction. At the balance sheet date, crypto assets are retranslated to sterling at the closing mid-market rate. Any gains or losses arising on retranslation are recognised in profit or loss within foreign exchange gains/losses for the period. Crypto assets are derecognised on the date they are used to settle a liability or converted to sterling. The difference between the sterling value at settlement and the carrying value at the balance sheet date is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

8,100

Amounts owed by group undertakings

100

Other debtors

48,826

57,026

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

26,706

Other creditors & accruals

399,557

426,263

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

7.	RELATED PARTY DISCLOSURES

D R Bungay

During the year, Platinum Jets Ltd entered into transactions with the director and ultimate controlling party, D R Bungay. Mr Bungay utilised services of the company at cost or at prices below normal market value under arrangements approved by the company. The total value of services sold to Mr Bungay during the year amounted to £389,113. The aggregate difference between the prices charged and market value was £nil.

Mr Bungay maintains a directors' loan account with the company. The balance on this account represents funds advanced to or withdrawn from the company in the normal course of business. The balance owed to Mr Bungay from Platinum Jets Ltd at the year end is £380,697 and is included in other creditors.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R Bungay.

The ultimate parent undertaking is Global Luxury Travel Group Ltd, a company incorporated in England & Wales. No consolidated financial statements are prepared.