Ptarmigan Holdings Limited Company Accounts

PTARMIGAN HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09542890

Ptarmigan Holdings Limited

Filleted Unaudited Financial Statements

31 December 2016

Ptarmigan Holdings Limited

Financial Statements

Year ended 31 December 2016

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

The following pages do not form part of the financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	8

Ptarmigan Holdings Limited

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£	£

Current assets

Debtors	4	910	575
Investments	5	434,411	178,711
Cash at bank and in hand		184,847	185,299
		----------	----------
		620,168	364,585

Creditors: amounts falling due within one year	6	4,148		2,775
		----------		----------
Net current assets			616,020		361,810
			----------		----------
Total assets less current liabilities			616,020		361,810

Provisions	7,635	–
	----------	----------
Net assets	608,385	361,810
	----------	----------

Capital and reserves

Called up share capital	15,296	13,550
Share premium account	524,690	351,450
Revaluation reserve	58,866	–
Profit and loss account	9,533	( 3,190)
	----------	----------
Members funds	608,385	361,810
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ptarmigan Holdings Limited

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 24 August 2017 , and are signed on behalf of the board by:

LGW Howard Taylor
Director

Company registration number: 09542890

Ptarmigan Holdings Limited

Statement of Changes in Equity

Year ended 31 December 2016

		Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Total
Note		£	£	£	£	£
At 15 April 2015		–	–	–	–	–

Loss for the year					( 3,190)	( 3,190)
		----	----	----	-------	-------
Total comprehensive income for the year		–	–	–	( 3,190)	( 3,190)

Issue of shares		13,550	351,450	–	–	365,000
		--------	----------	----	-------	----------
Total investments by and distributions to owners		13,550	351,450	–	–	365,000

At 31 December 2015		13,550	351,450	–	( 3,190)	361,810

Profit for the year					12,723	12,723
Other comprehensive income for the year:
	Revaluation of intangible assets other than goodwill	–	–	66,501	–	66,501
	Tax relating to components of other comprehensive income	–	–	( 7,635)	–	( 7,635)
		--------	----------	--------	--------	----------
Total comprehensive income for the year		–	–	58,866	12,723	71,589

Issue of shares		1,746	173,240	–	–	174,986
		-------	----------	----	----	----------
Total investments by and distributions to owners		1,746	173,240	–	–	174,986

		--------	----------	--------	-------	----------
At 31 December 2016		15,296	524,690	58,866	9,533	608,385
		--------	----------	--------	-------	----------

Ptarmigan Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Cornmarket St, OXFORD, OX1 3HA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Income represents income derived from investments, including dividends declared, interest due and gains made on investment disposals during the period.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Debtors

	2016	2015
	£	£
Other debtors	910	575
	----	----

5. Investments

	2016	2015
	£	£
Other investments	434,411	178,711
	----------	----------

6. Creditors: amounts falling due within one year

	2016	2015
	£	£
Corporation tax	627	–
Other creditors	3,521	2,775
	-------	-------
	4,148	2,775
	-------	-------

7. Director's advances, credits and guarantees

The director has incurred expenses on behalf of and advanced sums to the company. The amounts owed to the director by the company are included within creditors.

8. Related party transactions

The company was under the control of LGW Howard Taylor throughout the period. Mr Howard Taylor is the sole director and majority shareholder.

Ptarmigan Holdings Limited

Management Information

Year ended 31 December 2016

The following pages do not form part of the financial statements.

Ptarmigan Holdings Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Ptarmigan Holdings Limited

Year ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ptarmigan Holdings Limited for the year ended 31 December 2016, which comprise the statement of financial position, statement of changes in equity 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 www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

MERCER LEWIN LTD Chartered accountant

41 Cornmarket Street Oxford OX1 3HA

29 August 2017