PTB Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04326298 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

PTB LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P R Martin

Mrs P A Martin

SECRETARY:

Mrs P A Martin

REGISTERED OFFICE:

12 Alma Square

Scarborough

YO11 1JU

REGISTERED NUMBER:

04326298 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

147,329

167,217

147,329

167,217

CURRENT ASSETS

Debtors

6

9,842

35,691

Cash at bank

164,045

97,610

173,887

133,301

CREDITORS

Amounts falling due within one year

7

137,895

148,982

NET CURRENT ASSETS/(LIABILITIES)

35,992

(15,681

)

TOTAL ASSETS LESS CURRENT LIABILITIES

183,321

151,536

PROVISIONS FOR LIABILITIES

13,791

18,814

NET ASSETS

169,530

132,722

CAPITAL AND RESERVES

Called up share capital

7

7

Retained earnings

169,523

132,715

SHAREHOLDERS' FUNDS

169,530

132,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors on 15 November 2019 and were signed on its behalf by:

P R Martin - Director

1.	STATUTORY INFORMATION

PTB Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent

that the company has obtained the right to consideration through its performance and is measured at the fair

value of the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation. Goodwill is amortised evenly over its estimated useful life of five years.

Property, plant and equipment

Property, plant and equipment is measured at cost less any accumulated depreciation and any accumulated

impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its

estimated useful life.

Freehold property

- 4% on cost

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 20% on cost

Motor vehicles

- 25% on reducing balance

Computer equipment

- 33% on cost

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to

be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value

of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position 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.

Operating leases

Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits

Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Going concern

The company has a net asset position and a healthy bank position and the directors are satisfied that there are

sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to

adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

50,000

AMORTISATION

At 1 April 2018

and 31 March 2019

50,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2018

10,186

48,363

7,082

Additions

-

21,905

-

At 31 March 2019

10,186

70,268

7,082

DEPRECIATION

At 1 April 2018

1,893

17,033

4,643

Charge for year

408

8,987

788

At 31 March 2019

2,301

26,020

5,431

NET BOOK VALUE

At 31 March 2019

7,885

44,248

1,651

At 31 March 2018

8,293

31,330

2,439

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2018

230,950

17,421

314,002

Additions

-

250

22,155

At 31 March 2019

230,950

17,671

336,157

DEPRECIATION

At 1 April 2018

108,111

15,105

146,785

Charge for year

30,710

1,150

42,043

At 31 March 2019

138,821

16,255

188,828

NET BOOK VALUE

At 31 March 2019

92,129

1,416

147,329

At 31 March 2018

122,839

2,316

167,217

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,098

14,832

Other debtors

1,744

20,859

9,842

35,691

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

25,400

15,425

Other creditors

112,495

133,557

137,895

148,982

8.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount

to £48,200 (2018 - £54,225).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors operate a loan account with the company which is repayable on demand. The following advances

and credits subsisted during the years ended 31 March 2019 and 31 March 2018.

2019

2018

£

£

Balance outstanding at start of year

10,463

21,496

Amounts advanced

5,330

30,224

Amounts repaid

(15,793

)

(41,257

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

10,463

Interest has been charged at the HMRC beneficial loan rate whilst overdrawn.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,000 (2018 - £32,000) were paid to the directors .