Platinum Marine Sales Ltd - Filleted accounts

Registered number

07477258

Platinum Marine Sales Ltd

Filleted Accounts

31 December 2025

Platinum Marine Sales Ltd
Registered number:		07477258
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		69,542			84,336

Current assets
Stocks		76,174			78,041
Debtors	4	185,265			93,796
Cash at bank and in hand		134,327			250,301
		395,766			422,138

Creditors: amounts falling due within one year	5	(195,942)			(196,279)

Net current assets			199,824			225,859

Total assets less current liabilities			269,366			310,195

Creditors: amounts falling due after more than one year	6		-			(5,355)

Provisions for liabilities			(17,386)			(21,084)


Net assets			251,980			283,756

Capital and reserves
Called up share capital			2			2
Profit and loss account			251,978			283,754

Shareholders' funds			251,980			283,756

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.




C Rankmore
Director
Approved by the board on 2 September 2026

Platinum Marine Sales Ltd
Notes to the Accounts
for the year ended 31 December 2025


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.

	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:

	Plant and machinery	20% straight-line
	Motor vehicles	20% straight-line

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			7		7


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2025	19,061		143,695		162,756
	Additions	20,827		10,500		31,327
	Disposals	-		(21,790)		(21,790)
	At 31 December 2025	39,888		132,405		172,293

	Depreciation
	At 1 January 2025	14,550		63,870		78,420
	Charge for the year	5,902		28,833		34,735
	On disposals	-		(10,404)		(10,404)
	At 31 December 2025	20,452		82,299		102,751

	Net book value
	At 31 December 2025	19,436		50,106		69,542
	At 31 December 2024	4,511		79,825		84,336


4	Debtors			2025		2024
£					£

	Trade debtors			15,472		7,466
	Other debtors			169,793		86,330
				185,265		93,796


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			36,068		14,583
	Obligations under finance lease and hire purchase contracts			17,038		38,739
	Trade creditors			97,597		40,297
	Taxation and social security costs			43,049		100,444
	Other creditors			2,190		2,216
				195,942		196,279


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			-		5,355


7	Other information

	Platinum Marine Sales Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Suite 9, Pine Court Business Centre
	36 Gervis Road
	Bournemouth
	Dorset
	BH1 3DH