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

REGISTERED NUMBER: 04326298 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

PTB LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

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

186,084

147,329

186,084

147,329

CURRENT ASSETS

Debtors

6

47,613

9,842

Cash at bank

111,116

164,045

158,729

173,887

CREDITORS

Amounts falling due within one year

7

144,548

137,895

NET CURRENT ASSETS

14,181

35,992

TOTAL ASSETS LESS CURRENT LIABILITIES

200,265

183,321

PROVISIONS FOR LIABILITIES

12,260

13,791

NET ASSETS

188,005

169,530

CAPITAL AND RESERVES

Called up share capital

7

7

Retained earnings

187,998

169,523

SHAREHOLDERS' FUNDS

188,005

169,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 by the Board of Directors and authorised for issue on 13 November 2020 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.

Significant judgements and estimates

In preparing the financial statements, management is required to make estimates and assumptions which affect reported

income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and

application of judgement are inherent in the formation of estimates, together with past experience and expectations of future

events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such

estimates.

Critical judgements in applying the company's policies

No significant judgements have had to made by management in preparing these financial statements.

Critical accounting estimates and assumptions

The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements

have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next

financial year.

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

Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and

equipment are 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 overs 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 14 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

50,000

AMORTISATION

At 1 April 2019

and 31 March 2020

50,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2019

10,186

70,268

7,082

Additions

15,536

59,593

171

Disposals

-

-

-

At 31 March 2020

25,722

129,861

7,253

DEPRECIATION

At 1 April 2019

2,301

26,020

5,431

Charge for year

591

14,243

493

Eliminated on disposal

-

-

-

At 31 March 2020

2,892

40,263

5,924

NET BOOK VALUE

At 31 March 2020

22,830

89,598

1,329

At 31 March 2019

7,885

44,248

1,651

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2019

230,950

17,671

336,157

Additions

1,725

2,106

79,131

Disposals

(3,850

)

-

(3,850

)

At 31 March 2020

228,825

19,777

411,438

DEPRECIATION

At 1 April 2019

138,821

16,255

188,828

Charge for year

23,076

856

39,259

Eliminated on disposal

(2,733

)

-

(2,733

)

At 31 March 2020

159,164

17,111

225,354

NET BOOK VALUE

At 31 March 2020

69,661

2,666

186,084

At 31 March 2019

92,129

1,416

147,329

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

44,057

8,098

Other debtors

3,556

1,744

47,613

9,842

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

5,480

-

Taxation and social security

15,126

25,400

Other creditors

123,942

112,495

144,548

137,895

8.	OTHER FINANCIAL COMMITMENTS

As at the year end the company had total financial commitments of £42,175 (2019 - £48,200).

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 2020 and 31 March 2019.

2020

2019

£

£

Balance outstanding at start of year

-

10,463

Amounts advanced

-

5,330

Amounts repaid

-

(15,793

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

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

10.	RELATED PARTY DISCLOSURES

The directors received nil remuneration for services provided in the period. (2019 - nil)

11.	POST BALANCE SHEET EVENTS

In the light of the ongoing Covid-19 pandemic the directors took the difficult decision in June 2020 to cancel all coach

bookings for the 2020/21 season and to make certain staff redundant.By careful management of resources the directors

expect to be in a position to resume bookings for the 2021/22 season.