PTG Workholding Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02963866 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

PTG Workholding Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Winstone

T F Leat

REGISTERED OFFICE:

73 High Street

Staple Hill

Bristol

Avon

BS16 5HE

REGISTERED NUMBER:

02963866 (England and Wales)

ACCOUNTANTS:

Norton Accountancy Ltd

7 Soundwell Road

Staple Hill

Bristol

BS16 4QG

FIXED ASSETS

Tangible assets

4

9,949

13,669

CURRENT ASSETS

Stocks

41,173

48,018

Debtors

5

113,544

275,700

Cash at bank and in hand

75,278

46,112

229,995

369,830

CREDITORS

Amounts falling due within one year

6

129,148

204,592

NET CURRENT ASSETS

100,847

165,238

TOTAL ASSETS LESS CURRENT LIABILITIES

110,796

178,907

CREDITORS

Amounts falling due after more than one year

7

2,872

6,940

NET ASSETS

107,924

171,967

CAPITAL AND RESERVES

Called up share capital

2

4

Capital redemption reserve

2

-

Retained earnings

107,920

171,963

SHAREHOLDERS' FUNDS

107,924

171,967

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 16 December 2020 and were signed on its behalf by:

A D Winstone - Director

1.	STATUTORY INFORMATION

PTG Workholding 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

55,771

DEPRECIATION

At 1 April 2019

42,102

Charge for year

3,720

At 31 March 2020

45,822

NET BOOK VALUE

At 31 March 2020

9,949

At 31 March 2019

13,669

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

108,046

162,740

Other debtors

5,498

112,960

113,544

275,700

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

3,444

3,444

Trade creditors

81,358

101,732

Taxation and social security

19,596

32,952

Other creditors

24,750

66,464

129,148

204,592

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

2,872

6,316

Other creditors

-

624

2,872

6,940

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Invoice discounting

24,169

64,646

9.	RELATED PARTY DISCLOSURES

The company's factoring facility is secured by personal guarantees as follows:

01/12/2009 T Leat

01/12/2009 T Winstone

All guarantees are limited to £10,000.

During the year, dividends of £18,000 were issued to the current Directors.

Rent of £11,000 (£11,000 - 2019) was paid to a pension fund of which A Winstone and T Leat are beneficiaries.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the Director's by virtue of their equal shareholdings.