PTG Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06607646 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2017

for

PTG Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Marshall

D G Gove

SECRETARY:

D Marshall

REGISTERED OFFICE:

Harscombe House

1 Darklake View

Estover

Plymouth

Devon

PL6 7TL

REGISTERED NUMBER:

06607646 (England and Wales)

ACCOUNTANTS:

Bromhead

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

FIXED ASSETS

Investments

3

100

100

Investment property

4

800,000

800,000

800,100

800,100

CURRENT ASSETS

Debtors

5

113,948

150,071

Cash at bank

358

-

114,306

150,071

CREDITORS

Amounts falling due within one year

6

56,617

87,081

NET CURRENT ASSETS

57,689

62,990

TOTAL ASSETS LESS CURRENT LIABILITIES

857,789

863,090

CREDITORS

Amounts falling due after more than one year

7

(293,134

)

(337,631

)

PROVISIONS FOR LIABILITIES

(38,681

)

(40,717

)

NET ASSETS

525,974

484,742

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

525,874

484,642

SHAREHOLDERS' FUNDS

525,974

484,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 Board of Directors on 4 September 2017 and were signed on its behalf by:

D G Gove - Director

D Marshall - Director

1.	STATUTORY INFORMATION

PTG Holdings 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about PTG Holdings Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 balance sheet date.

Deferred tax

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

balance sheet 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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

100

NET BOOK VALUE

At 31 March 2017

100

At 31 March 2016

100

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

800,000

NET BOOK VALUE

At 31 March 2017

800,000

At 31 March 2016

800,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed by group undertakings

112,711

149,697

Other debtors

1,237

374

113,948

150,071

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

42,788

40,970

Taxation and social security

12,222

44,504

Other creditors

1,607

1,607

56,617

87,081

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

293,134

337,631

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

121,982

174,479

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Mortgage

335,922

378,420

The mortgage is secured with a debenture and a cross-guarantee from PTG Precision Engineers Ltd.

9.	RELATED PARTY DISCLOSURES

Rent has been charged to PTG Precision Engineers Ltd, a wholly owned subsidiary, of £60,000 (2016 £60,000)

and a management charge of £8,000 (2016 £17,000) has been charged by PTG Holdings Ltd to PTG Precision

Engineers Ltd. An intercompany loan existed between the two companies and at the end of the year PTG

Precision Engineers Ltd owed PTG Holdings Ltd £112,711 (2016 £149,697).

A loan existed between the company and D Gove, a director, but at no point in the year was this loan

overdrawn. This loan is interest free and repayable on demand.

There is a cross guarantee between PTG Precision Engineers Limited and PTG Holdings Limited over bank

borrowings in both companies. The bank borrowings in PTG Precision Engineers Limited as at 31 March 2017

were £241,341 (2016 £121,253).