Professional Technical Consulting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07662470 (England and Wales)

PROFESSIONAL TECHNICAL CONSULTING

LIMITED

TRADING AS

PROTEC SERVICES

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

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

-

-

Tangible assets

5

28,739

17,568

28,739

17,568

CURRENT ASSETS

Stocks

4,500

3,000

Debtors

6

193,980

108,673

Cash at bank and in hand

48,222

31,461

246,702

143,134

CREDITORS

Amounts falling due within one year

7

94,422

62,353

NET CURRENT ASSETS

152,280

80,781

TOTAL ASSETS LESS CURRENT LIABILITIES

181,019

98,349

CREDITORS

Amounts falling due after more than one year

8

(7,517

)

(1,840

)

PROVISIONS FOR LIABILITIES

(5,386

)

(3,104

)

NET ASSETS

168,116

93,405

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

168,016

93,305

SHAREHOLDERS' FUNDS

168,116

93,405

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 25 September 2018 and were signed on its behalf by:

Mrs S A Brown - Director

1.	STATUTORY INFORMATION

Professional Technical Consulting 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.

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 9 (2016 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

25,000

AMORTISATION

At 1 January 2017

and 31 December 2017

25,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

2,407

33,237

35,644

Additions

-

18,819

18,819

Disposals

-

(3,738

)

(3,738

)

At 31 December 2017

2,407

48,318

50,725

DEPRECIATION

At 1 January 2017

357

17,719

18,076

Charge for year

240

6,521

6,761

Eliminated on disposal

-

(2,851

)

(2,851

)

At 31 December 2017

597

21,389

21,986

NET BOOK VALUE

At 31 December 2017

1,810

26,929

28,739

At 31 December 2016

2,050

15,518

17,568

The net book value of tangible fixed assets includes £ 14,051 (2016 - £ 11,621 ) in respect of assets held under hire

purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

176,441

98,905

Other debtors

17,539

9,768

193,980

108,673

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

18

Hire purchase contracts

3,424

3,365

Trade creditors

11,006

9,154

Taxation and social security

66,975

47,081

Other creditors

13,017

2,735

94,422

62,353

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

7,517

1,840

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

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 2017 and

31 December 2016:

2017

2016

£

£

I M Brown and Mrs S A Brown

Balance outstanding at start of year

9,768

56

Amounts advanced

57,771

42,392

Amounts repaid

(50,000

)

(32,680

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,539

9,768

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2016 - £30,000) were paid to the directors.