Professional Technical Consulting Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07662470 (England and Wales)

PROFESSIONAL TECHNICAL CONSULTING LTD

TRADING AS

PROTEC SERVICES

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

I M Brown

Mrs S A Brown

REGISTERED OFFICE:

Unit 3f

Bolingbroke Road

Fairfield Industrial Estate

Louth

Lincolnshire

LN11 0WA

REGISTERED NUMBER:

07662470 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

15 Chequergate

Louth

Lincolnshire

LN11 0LJ

FIXED ASSETS

Intangible assets

4

-

5,000

Tangible assets

5

17,568

22,198

17,568

27,198

CURRENT ASSETS

Stocks

3,000

18,444

Debtors

6

108,673

33,129

Cash at bank

31,461

12,379

143,134

63,952

CREDITORS

Amounts falling due within one year

7

62,353

38,236

NET CURRENT ASSETS

80,781

25,716

TOTAL ASSETS LESS CURRENT LIABILITIES

98,349

52,914

CREDITORS

Amounts falling due after more than one year

8

(1,840

)

(5,205

)

PROVISIONS FOR LIABILITIES

(3,104

)

(4,170

)

NET ASSETS

93,405

43,539

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

93,305

43,439

SHAREHOLDERS' FUNDS

93,405

43,539

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 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 25 September 2017 and were signed on its behalf by:

Mrs S A Brown - Director

1.	STATUTORY INFORMATION

Professional Technical Consulting Ltd 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.

Turnover

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

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012 has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 10% on cost

Plant and machinery - 20% on cost

Fixtures and fittings - 15% on cost

Motor vehicles - 25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

25,000

AMORTISATION

At 1 January 2016

20,000

Charge for year

5,000

At 31 December 2016

25,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

5,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

1,158

32,823

33,981

Additions

1,249

414

1,663

At 31 December 2016

2,407

33,237

35,644

DEPRECIATION

At 1 January 2016

116

11,667

11,783

Charge for year

241

6,052

6,293

At 31 December 2016

357

17,719

18,076

NET BOOK VALUE

At 31 December 2016

2,050

15,518

17,568

At 31 December 2015

1,042

21,156

22,198

The net book value of tangible fixed assets includes £ 11,621 (2015 - £ 15,495 ) in respect of assets held under hire

purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

98,905

32,867

Other debtors

9,768

262

108,673

33,129

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

18

-

Hire purchase contracts

3,365

3,364

Trade creditors

9,154

14,503

Taxation and social security

47,081

18,969

Other creditors

2,735

1,400

62,353

38,236

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

1,840

5,205

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31 December 2015:

2016

2015

£

£

I M Brown and Mrs S A Brown

Balance outstanding at start of year

56

2,141

Amounts advanced

42,392

51,265

Amounts repaid

(32,680

)

(53,350

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,768

56

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 (2015 - £52,000) were paid to the directors.

12.	FIRST YEAR ADOPTION

The company's financial statements have not been materially affected by the transition to FRS102.