PTM Investments Limited - Accounts to registrar (filleted) - small 18.2

PTM Investments Limited - Accounts to registrar (filleted) - small 18.2

PTM INVESTMENTS LIMITED - Company Information

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REGISTERED NUMBER: SC242889 (Scotland)




















PTM Investments Limited

Unaudited Financial Statements

for the Year Ended 31 January 2021





Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT








PTM Investments Limited (Registered number: SC242889)






Contents of the Financial Statements
for the Year Ended 31 January 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PTM Investments Limited

Company Information
for the Year Ended 31 January 2021







DIRECTOR: P T Melville



SECRETARY: Mrs D Melville



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Lothian
EH3 6AT



REGISTERED NUMBER: SC242889 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
43 Comely Bank
Edinburgh
EH4 1AF
Page 1
PTM Investments Limited (Registered number: SC242889)

Balance Sheet
31 January 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,000 22,000
Tangible assets 5 27,597 36,796
49,597 58,796

CURRENT ASSETS
Debtors 6 78 4,087
Cash at bank 4,705 1,491
4,783 5,578
CREDITORS
Amounts falling due within one year 7 12,541 10,790
NET CURRENT LIABILITIES (7,758 ) (5,212 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
41,839
53,584

CREDITORS
Amounts falling due after more than
one year
8
(32,638
)
(29,038
)

PROVISIONS FOR LIABILITIES (5,243 ) (6,991 )
NET ASSETS 3,958 17,555

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,858 17,455
SHAREHOLDERS' FUNDS 3,958 17,555

The notes form part of these financial statements

Page 2 continued...
PTM Investments Limited (Registered number: SC242889)

Balance Sheet - continued
31 January 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 October 2021 and were signed by:





P T Melville - Director


The notes form part of these financial statements

Page 3
PTM Investments Limited (Registered number: SC242889)

Notes to the Financial Statements
for the Year Ended 31 January 2021

1. STATUTORY INFORMATION

PTM Investments Limited is a private company, limited by shares , registered in Scotland. 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 represents automobile and taxi hires, excluding Value Added Tax. Income is recognised when received.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


Page 4 continued...
PTM Investments Limited (Registered number: SC242889)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2021

2. ACCOUNTING POLICIES - continued
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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future.The directors going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2020
and 31 January 2021 22,000
NET BOOK VALUE
At 31 January 2021 22,000
At 31 January 2020 22,000

Page 5 continued...
PTM Investments Limited (Registered number: SC242889)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2021

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2020
and 31 January 2021 45,995
DEPRECIATION
At 1 February 2020 9,199
Charge for year 9,199
At 31 January 2021 18,398
NET BOOK VALUE
At 31 January 2021 27,597
At 31 January 2020 36,796

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 78 62
Other debtors - 4,025
78 4,087

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 800 923
Hire purchase contracts 8,499 8,499
Taxation and social security 783 -
Other creditors 2,459 1,368
12,541 10,790

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 7,200 -
Hire purchase contracts 25,438 29,038
32,638 29,038

Page 6 continued...
PTM Investments Limited (Registered number: SC242889)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 33,937 37,537

Bank loans and overdrafts are secured by a personal guarantee provided by the director, Mr P Melville.

Hire purchase liabilities are secured on the assets concerned.

Page 7