Registrar copy
Registration number:
Platinum Facilities & Maintenance Services Ltd
for the Year Ended 30 September 2025
Platinum Facilities & Maintenance Services Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Platinum Facilities & Maintenance Services Ltd
Company Information
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Directors |
G L Cardinal M Hellicar E C Gee |
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Company secretary |
K M Cardinal |
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Registered office |
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Bankers |
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Auditors |
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Platinum Facilities & Maintenance Services Ltd
Strategic Report for the Year Ended 30 September 2025
The directors present their strategic report for the year ended 30 September 2025.
Principal activity
Platinum Facilities & Maintenance Services Ltd provides planned and reactive maintenance services across mechanical, electrical, public health and fabric disciplines. The business supports a diverse commercial and residential client base, primarily in London and increasingly on a national footing.
Our services include maintenance, project works, asset replacement, and energy management consultancy, supporting clients in achieving operational efficiency and carbon reduction objectives.
Strategic Overview & Responsible Business
Platinum continues to operate under its core purpose: “Data Led Maintenance for a Responsibly Led Future”.Our Responsible Business Strategy remains central to how we operate, aligning Environmental, Social and Governance (ESG) priorities with measurable performance outcomes.
The introduction and expansion of our PULSE Power BI platform has enhanced visibility across the business, providing a structured framework to monitor performance across:
• Commercial
• Compliance
• Customer
• Culture
• Continuous Improvement
This ensures stronger governance, accountability, and real-time data-driven decision making.
Financial Performance
For the year ending September 2025, the Company delivered:
• Turnover: £30,280,391 (2024 - £27,924,940)
• Pre-tax profit: £242,778 (2024 - £1,008,410)
While our profitability has reduced year-on-year this is a direct and deliberate consequence of increased overhead investment, specifically in:
• Expansion of our mobile engineering division
• Development of in-house water treatment capability
• Continued investment in technology platforms, including PULSE and CAFM systems
These investments are strategic in nature, aimed at strengthening long-term capability, increasing self-delivery, and positioning the business for scalable growth. Most importantly underlying trading remains strong and the cost base increase reflects planned future-facing investment rather than operational underperformance.
Operational Progress
During the year, the business has:
• Expanded national mobile delivery capability across key technical disciplines
• Invested in CAFM system enhancements and service centre capability
• Strengthened data analytics through the PULSE platform
• Continued developing behavioural accountability and management disciplines
These changes have improved operational visibility, service quality, and contract performance across the portfolio.
Platinum Facilities & Maintenance Services Ltd
Strategic Report for the Year Ended 30 September 2025
Business Environment & Outlook
Platinum operates in a competitive and evolving facilities management market, influenced by hybrid working patterns, changes in commercial real estate demand, and increasing ESG expectations. Despite these dynamics, the outlook for 2026 and beyond remains strong and positive.
Key growth drivers include:
• Increased demand for self-delivery models from clients
• Expansion of mobile engineering services at a national level
• Growth in water treatment and specialist compliance services
• Leveraging technology platforms to drive efficiency and reporting transparency
• Opportunities in residential, mixed-use and student accommodation sectors
The investments made in 2025 are expected to:
• Enhance margins through greater self-delivery
• Improve contract profitability over time
• Enable scalable growth across new and existing clients
The Board anticipates that profitability will strengthen in the medium term as the benefits of these investments are realised.
Carbon & ESG Commitment
Platinum remains committed to reducing operational and embodied carbon emissions across both its own operations and client portfolios.
Through a combination of:
• Data-led insights
• Technical innovation
• Supply chain collaboration
We continue to support clients in achieving their sustainability objectives while embedding ESG principles across all areas of the business.
Conclusion
The 2025 financial year represents a period of purposeful investment and strategic positioning.
While short-term profitability has been impacted by increased overheads, these costs reflect targeted investment into high-growth areas of the business, including mobile delivery, water treatment, and technology.
The business is now:
• Operationally stronger
• More scalable
• Better aligned to market demand
With a robust pipeline and strengthened capabilities, Platinum is well positioned to deliver sustainable growth and improved profitability in the years ahead.
Approved by the Board on
G L Cardinal
Director
Platinum Facilities & Maintenance Services Ltd
Directors' Report for the Year Ended 30 September 2025
The directors present their report and the financial statements for the year ended 30 September 2025.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
Protecting customers, staff and supply partners, in their environment, in an efficient, ethical and sustainable manner are the company's key objectives. The company is proud to have had no serious incidents.
The board and senior management team are responsible for developing policies and procedures, supported by the Managers. All employees and supply partners are made fully aware of their responsibilities to operate and maintain operating procedures with safety, health, environment & quality being paramount. Each contract starts with undertaking detailed analysis to build a specific operational risk profile for each built environment.
The company has a tailored Integrated Management System, independently assessed and accredited to meet the exacting standards of ISO 9001, ISO 14001, ISO 45001, ISO 55001, SAFE contractor and Contractors Health & Safety Assessment Scheme (CHAS).
The company has designed a bespoke web-enabled operating and delivery model for their clients that creates a system of templated standardised policies and procedures across specific contracts that is built upon our UKAS certified ISO 550001, branding it ‘Platinum Business Focused Maintenance’(PBFM). However regular/recurring service contracts are based around the Building Engineering Services Association industry standard Building and Engineering Services SFG20 prescribed maintenance schedules. The approach also adopts The Building Services Research and Information Association ‘soft landings’ framework.
These systems are reinforced by a central helpdesk for all staff and customers; integrated tablet technology at remote customer locations; regular internal auditing; training programmes; and an online safety, health, environment & quality risk register and energy dashboard for all contracts.
Platinum Facilities & Maintenance Services Ltd
Directors' Report for the Year Ended 30 September 2025
Price risk, credit risk, liquidity risk and cash flow risk
Risks
The company monitors its exposure to risk on an ongoing basis. The company’s activities do not expose it to any material price risk, cash flow risk or foreign exchange risk. Due to the nature of the business and the assets and liabilities contained within the balance sheet the financial risks the directors consider relevant to the company are credit risk and liquidity risk. The company has not used any financial instruments to change its exposure to these risks.
Credit risk:
Credit risk arises on the company’s principal financial assets which are cash at bank, trade debtors and amounts recoverable on contracts. The credit risk associated with cash is limited as the company uses reputable financial institutions for banking requirements. All customers are financially assessed prior to entering into contracts and only customers with appropriate credit history are offered credit terms. The company has no significant concentration of credit risk, with exposure spread over a number of customers.
Liquidity risk:
The company is exposed to liquidity risk on its financial liabilities including trade and other creditors. In order to maintain liquidity to ensure funds are available for ongoing operations and future developments the company has access to banking facilities and loans from related parties.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the Board on
G L Cardinal
Director
Platinum Facilities & Maintenance Services Ltd
Statement of Directors' Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Platinum Facilities & Maintenance Services Ltd
Independent Auditor's Report to the Members of Platinum Facilities & Maintenance Services Ltd
Opinion
We have audited the financial statements of Platinum Facilities & Maintenance Services Ltd (the 'company') for the year ended 30 September 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Platinum Facilities & Maintenance Services Ltd
Independent Auditor's Report to the Members of Platinum Facilities & Maintenance Services Ltd
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
Platinum Facilities & Maintenance Services Ltd
Independent Auditor's Report to the Members of Platinum Facilities & Maintenance Services Ltd
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sectors; |
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and health and safety legislation; |
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships; |
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tested journal entries to identify unusual transactions; |
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
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investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation; and |
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enquiring of management as to actual and potential litigation and claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing
standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Platinum Facilities & Maintenance Services Ltd
Independent Auditor's Report to the Members of Platinum Facilities & Maintenance Services Ltd
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
3 Warners Mill
Silks Way
Essex
CM7 3GB
Platinum Facilities & Maintenance Services Ltd
Profit and Loss Account for the Year Ended 30 September 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
500,079 |
1,257,261 |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(257,301) |
(248,851) |
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Profit before tax |
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Tax on profit |
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( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The Company has no recognised gains or losses for the year other than the results above.
Platinum Facilities & Maintenance Services Ltd
Statement of Comprehensive Income for the Year Ended 30 September 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Platinum Facilities & Maintenance Services Ltd
(Registration number: 00936149)
Balance Sheet as at 30 September 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100,000 |
100,000 |
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Retained earnings |
3,773,776 |
3,850,277 |
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Shareholders' funds |
3,873,776 |
3,950,277 |
Approved and authorised by the
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Platinum Facilities & Maintenance Services Ltd
Statement of Changes in Equity for the Year Ended 30 September 2025
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Share capital |
Retained earnings |
Total |
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At 1 October 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 30 September 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 October 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 30 September 2024 |
100,000 |
3,850,277 |
3,950,277 |
Platinum Facilities & Maintenance Services Ltd
Statement of Cash Flows for the Year Ended 30 September 2025
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2025 |
2024 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation |
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Finance income |
( |
( |
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Finance costs |
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Tax expense |
( |
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Working capital adjustments |
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(Increase)/decrease in trade debtors |
( |
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(Decrease)/increase in trade creditors |
( |
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Cash generated from operations |
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Taxes paid |
( |
( |
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Net cash flow from operating activities |
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Cash flows from investing activities |
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Interest received |
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Acquisitions of tangible assets |
( |
( |
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
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Interest paid |
( |
( |
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Repayment of other borrowing |
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( |
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Dividends paid |
( |
( |
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Net cash flows from financing activities |
( |
( |
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Net (decrease)/increase in cash and cash equivalents |
( |
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Cash and cash equivalents at 1 October |
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Cash and cash equivalents at 30 September |
88,860 |
613,263 |
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
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General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office and principal place of business is
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£), which is the Company's functional currency.
Summary of disclosure exemptions
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.
Going concern
The financial statements have been prepared on a going concern basis.
The directors have a reasonable expectation that the company has adequate resources to maintain operations for the foreseeable future.
This judgement is a reflection of the company's resources and current trading performance.
Judgements
The preparation of the financial statement requires management to make significant judgements and estimates. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Other than those involving estimations there are no judgements that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. |
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
Key sources of estimation uncertainty
The amounts recoverable on contracts are estimated by evaluating the value of work completed to date and compare this to the amounts invoiced during the period. For incomplete contracts the value of work in progress reflects the partial performance of the contractual obligations. For such contracts work in progress reflects the costs incurred on contracts including profit margin expected by reference to the value of work performed. The director judges this to be an appropriate basis to value work in progress.
Contract accruals are estimated by evaluating partially completed contracts. Expected costs are outlined at the contract inception, and are compared against actual contract costs incurred. The contract accruals represent the value of costs budgeted, but not yet incurred. The director judges this to be an appropriate measurement for contract accruals.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods..
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the supply of planned and reactive maintenance to the built environment (Mechanical, Electrical, Public Health, and Fabric services). Turnover is shown net of value added tax, returns, rebates and discounts.
Revenue is recognised on an output method based on time elapsed across the term of a contract, service obligations are considered to be met over time and are simultaneously received and consumed by the customer.
Amounts recoverable on long term contracts, which are included in debtors, are stated at expected sales value and recognised by reference to the stage of completion. Calculated costs on maintenance contracts to the balance sheet are shown within creditors and are recognised by reference to the stage of completion of the contract.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
20% Straight Line Method |
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Office equipment |
20% Straight Line Method |
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
Financial instruments
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Contract revenue |
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All turnover is generated in the United Kingdom.
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2025 |
2024 |
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Management charges receivable |
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Supplier rebates |
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Other interest receivable and similar income |
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2025 |
2024 |
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Interest income on bank deposits |
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Other finance income |
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Interest payable and similar expenses |
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2025 |
2024 |
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Other interest payable |
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Invoice discounting interest |
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Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors and the former director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Directors |
|
|
|
Direct Labour |
|
|
|
Management |
|
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
476,397 |
19,032 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
- |
|
|
UK corporation tax adjustment to prior periods |
- |
|
|
- |
262,625 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax (receipt)/expense in the income statement |
( |
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of adjustments for prior periods |
- |
|
|
Effect of capital allowances and depreciation |
|
( |
|
Effect from other short-term timing differences |
|
( |
|
Effect of non-deductible expenses |
|
|
|
Tax decrease arising from group relief |
( |
( |
|
Movement in deferred tax liability |
( |
|
|
Total tax (credit)/charge |
( |
|
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
The amount of the net reversal of deferred tax assets and deferred tax liabilities expected to occur during the year beginning after the reporting period is £56,345 (2024 - £49,187).
|
Tangible assets |
|
Fixtures & fittings |
Office equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 October 2024 |
|
|
|
|
Additions |
|
|
|
|
At 30 September 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 October 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 30 September 2025 |
|
|
|
|
Carrying amount |
|||
|
At 30 September 2025 |
|
|
|
|
At 30 September 2024 |
|
|
|
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Amounts recoverable on contracts |
|
|
|
Amounts owed by group undertakings |
|
|
|
Directors loan |
486,599 |
974,232 |
|
Other debtors |
|
|
|
Prepayments and accrued income |
|
|
|
|
|
Included in trade debtors are £3,700,455 (2024: £4,148,831) which are under an invoice finance agreement.
Debtors included amounts owed by related parties. Whilst these are due on demand, it is unlikely that they will be repaid in full during the coming year.
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
|
|
|
Other creditors |
|
|
|
Corporation tax |
- |
314,863 |
|
Accruals and deferred income |
|
|
|
|
|
Loans and borrowings, under creditors due within one year includes £2,284,842 (2024: £2,108,103) on which security has been given by the company.
The Company has a charge dated 8 May 2019 in respect of the invoice discounting facility. The charge contains both fixed and floating charges.
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
|
Deferred tax and other provisions |
|
Deferred tax |
Total |
|
|
At 1 October 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 30 September 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £48,378 (2024 - £38,675) were payable to the scheme at the end of the year and are included in creditors.
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100,000 |
|
100,000 |
|
Loans and borrowings |
Current loans and borrowings
|
2025 |
2024 |
|
|
Invoice financing |
|
|
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Analysis of changes in net debt |
|
At 1 October 2024 |
Cash flows |
At 30 September 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash at bank |
613,263 |
(524,403) |
88,860 |
|
Borrowings |
|||
|
Invoice discounting facility |
(2,108,103) |
(176,739) |
(2,284,842) |
|
( |
( |
( |
|
|
|
|||
|
Related party transactions |
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Post-employment benefits |
|
|
|
|
|
Platinum Facilities & Maintenance Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2025
|
Transactions with directors |
|
2025 |
At 1 October 2024 |
Advances to director |
Repayments by director |
At 30 September 2025 |
|
G L Cardinal |
||||
|
|
|
|
( |
|
|
2024 |
At 1 October 2023 |
Advances to director |
Repayments by director |
At 30 September 2024 |
|
G L Cardinal |
||||
|
|
|
|
- |
|
This loan is unsecured and interest has been charged in line with the prescribed beneficial loan interest rate.
|
Parent and ultimate parent undertaking |
The Company's immediate parent and parent of the largest and smallest group in which these financial statements are consolidated is
The address of Integrated Technical Solutions Group Limited is: West Farm House, Cams Hall Estate, Fareham, PO16 8UT.
Financial statements for the group are available from www.companieshouse.gov.uk.