PC Turbine Controls Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08332039 (England and Wales)

PC TURBINE CONTROLS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P M Campbell

REGISTERED OFFICE:

4 Henley Way

Doddington Road

Lincoln

LN6 3QR

REGISTERED NUMBER:

08332039 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

4

33

391

CURRENT ASSETS

Debtors

5

26,091

10,509

Cash at bank

73,328

112,613

99,419

123,122

CREDITORS

Amounts falling due within one year

6

31,272

121,733

NET CURRENT ASSETS

68,147

1,389

TOTAL ASSETS LESS CURRENT LIABILITIES

68,180

1,780

PROVISIONS FOR LIABILITIES

-

78

NET ASSETS

68,180

1,702

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

68,080

1,602

SHAREHOLDERS' FUNDS

68,180

1,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 September 2017 and were signed by:

P M Campbell - Director

1.	STATUTORY INFORMATION

PC Turbine Controls Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention as modified by the revaluation of certain assets.

The financial statements for the year ended 31 December 2016 are the first financial statements of PC Turbine

Controls Limited prepared in accordance with FRS 102. Adjustments required on transition are set out in the

notes to the financial statements.

Turnover

Turnover represents amounts charged to customers for services provided during the year. Revenue is

recognised in the period in which services are performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

1,087

DEPRECIATION

At 1 January 2016

696

Charge for year

358

At 31 December 2016

1,054

NET BOOK VALUE

At 31 December 2016

33

At 31 December 2015

391

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

26,091

10,509

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

-

144

Taxation and social security

-

354

Other creditors

31,272

121,235

31,272

121,733

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

P M Campbell

Balance outstanding at start of year

10,190

12,255

Amounts advanced

182,671

91,775

Amounts repaid

(167,083

)

(93,840

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,778

10,190

Interest is charged on overdrawn director's loan account at the official rate.

9.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 31 December 2016. The reported

financial position and financial performance for the previous period are not affected by the transition to

FRS102.