Pertach Investments Ltd - Period Ending 2016-08-31

Registration number: SC482107

Pertach Investments Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

Pertach Investments Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pertach Investments Ltd
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pertach Investments Ltd for the year ended 31 August 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Pertach Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pertach Investments Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pertach Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pertach Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pertach Investments Ltd. You consider that Pertach Investments 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 accounts of Pertach Investments 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 accounts.

......................................

Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ

16 December 2016

Page 1

Pertach Investments Ltd
(Registration number: SC482107)
Abbreviated Balance Sheet at 31 August 2016

		Note			31 August 2016 £			31 August 2015 £
Fixed assets
Tangible fixed assets					103,032			103,032
Current assets
Debtors					2			211
Cash at bank and in hand					2,258			1,137
					2,260			1,348
Creditors: Amounts falling due within one year					(46,804)			(40,245)
Net current liabilities					(44,544)			(38,897)
Total assets less current liabilities					58,488			64,135
Creditors: Amounts falling due after more than one year					(58,492)			(64,975)
Net liabilities					(4)			(840)
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					(6)			(842)
Shareholders' deficit					(4)			(840)

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 December 2016 and signed on its behalf by:

.........................................
Mr Peter James Dunn
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Pertach Investments Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values to their recoverable amounts and to provide for further liabilities that may arise.

Triquetra Ltd, the main creditor, has no intention of withdrawing their support to the company and as such the directors believe it is appropriate for the financial statements to be prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

No depreciation is provided for on Investment properties

Asset class	Depreciation method and rate
Investment property	nil depreciation

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Page 3

Pertach Investments Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		103,032			103,032
At 31 August 2016		103,032			103,032
Depreciation
At 31 August 2016		-			-
Net book value
At 31 August 2016		103,032			103,032
At 31 August 2015		103,032			103,032

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 August 2016 £			31 August 2015 £
Amounts falling due after more than one year		58,492			64,975

Included in the creditors are the following amounts due after more than five years:

Page 4

Pertach Investments Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

		31 August 2016 £			31 August 2015 £
After more than five years by instalments		58,492			64,975

4	Share capital

Allotted, called up and fully paid shares

	31 August 2016						31 August 2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

Page 5