PTL_PLANT_SOLUTIONS_LIMIT - Accounts

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

These financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support from the company's related companies.

The director has received assurances from its related companies that existing liabilities will not be called upon until PTL Plant Solutions Limited is in a position to repay them. In addition, indications have been given that continued funding will be provided to support PTL Plant Solutions Limited for the foreseeable future and to enable it to meet its day-to-day commitments from cash flows.

As a consequence, the director believes that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. As such, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the annual report and accounts.

If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income is recognised on the provision of the service. Income is recognised on the provision of the service.