PTM Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC242889 (Scotland)

PTM Investments Limited

Unaudited Financial Statements

for the Year Ended 31 January 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P T Melville

SECRETARY:

Mrs D Melville

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Lothian

EH3 6AT

REGISTERED NUMBER:

SC242889 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland

43 Comely Bank

Edinburgh

EH4 1AF

FIXED ASSETS

Intangible assets

4

22,000

22,000

Tangible assets

5

-

9,174

22,000

31,174

CURRENT ASSETS

Debtors

6

861

637

Cash at bank

864

274

1,725

911

CREDITORS

Amounts falling due within one year

7

19,467

22,603

NET CURRENT LIABILITIES

(17,742

)

(21,692

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,258

9,482

CREDITORS

Amounts falling due after more than one year

8

-

(7,537

)

PROVISIONS FOR LIABILITIES

-

(1,743

)

NET ASSETS

4,258

202

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,158

102

SHAREHOLDERS' FUNDS

4,258

202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 30 October 2018 and were signed by:

P T Melville - Director

1.	STATUTORY INFORMATION

PTM Investments Limited is a private company, limited by shares , registered in Scotland. 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 represents automobile and taxi hires, excluding Value Added Tax. Income is recognised

when received.

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.

Plant and machinery etc

-

25% on cost

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and

subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

and 31 January 2018

22,000

NET BOOK VALUE

At 31 January 2018

22,000

At 31 January 2017

22,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

and 31 January 2018

36,695

DEPRECIATION

At 1 February 2017

27,521

Charge for year

9,174

At 31 January 2018

36,695

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

9,174

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2017

and 31 January 2018

36,695

DEPRECIATION

At 1 February 2017

27,521

Charge for year

9,174

At 31 January 2018

36,695

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

9,174

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

861

637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

7,537

8,222

Taxation and social security

3,908

2,635

Other creditors

8,022

11,746

19,467

22,603

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

7,537

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

7,537

15,759

Bank loans and overdrafts are secured by a personal guarantee provided by the director, Mr P

Melville.

Hire purchase liabilities are secured on the assets concerned.

10.	GOING CONCERN

At 31 January 2018 the company had net current liabilities of £17,742 (2017: £21,692) and as such

is dependent on the continued support of the director to continue trading. On the basis that this

support will continue, the accounts have been prepared on the going concern basis.