Professional Technical Consulting Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07662470 (England and Wales)

PROFESSIONAL TECHNICAL CONSULTING LTD

TRADING AS

PROTEC SERVICES

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

Chartered Accountants' Report

7

DIRECTORS:

I M Brown

Mrs S A Brown

REGISTERED OFFICE:

Unit 3f

Bolingbroke Road

Fairfield Industrial Estate

Louth

Lincolnshire

LN11 0WA

REGISTERED NUMBER:

07662470 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

15 Chequergate

Louth

Lincolnshire

LN11 0LJ

FIXED ASSETS

Intangible assets

2

5,000

10,000

Tangible assets

3

22,198

17,434

27,198

27,434

CURRENT ASSETS

Stocks

18,444

3,615

Debtors

33,129

41,190

Cash at bank

12,379

33,032

63,952

77,837

CREDITORS

Amounts falling due within one year

4

38,236

34,625

NET CURRENT ASSETS

25,716

43,212

TOTAL ASSETS LESS CURRENT LIABILITIES

52,914

70,646

CREDITORS

Amounts falling due after more than one
year

4

(5,205

)

(3,333

)

PROVISIONS FOR LIABILITIES

(4,170

)

(3,413

)

NET ASSETS

43,539

63,900

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

43,439

63,800

SHAREHOLDERS' FUNDS

43,539

63,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 September 2016 and were signed on its
behalf by:

I M Brown - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

25,000

AMORTISATION

At 1 January 2015

15,000

Amortisation for year

5,000

At 31 December 2015

20,000

NET BOOK VALUE

At 31 December 2015

5,000

At 31 December 2014

10,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

23,204

Additions

10,777

At 31 December 2015

33,981

DEPRECIATION

At 1 January 2015

5,770

Charge for year

6,013

At 31 December 2015

11,783

NET BOOK VALUE

At 31 December 2015

22,198

At 31 December 2014

17,434

4.

CREDITORS

Creditors include an amount of £ 8,569 (2014 - £ 5,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015 and

31 December 2014:

2015

2014

£

I M Brown and Mrs S A Brown

Balance outstanding at start of year

2,141

(8,824

)

Amounts advanced

51,265

64,645

Amounts repaid

(53,350

)

(53,680

)

Balance outstanding at end of year

56

2,141

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Professional Technical Consulting Ltd for the year ended 31 December 2015 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Professional Technical Consulting Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Professional Technical Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of Professional Technical Consulting Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Professional Technical Consulting Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Professional Technical Consulting Ltd. You consider that Professional Technical Consulting Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Professional Technical Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

15 Chequergate

Louth

Lincolnshire

LN11 0LJ

23 September 2016