1 April 2022 false No description of principal activity Taxfiler 2023.9.1 04520493business:PrivateLimitedCompanyLtd2022-04-012023-03-31 045204932022-03-31 045204932022-04-012023-03-31 04520493business:AuditExempt-NoAccountantsReport2022-04-012023-03-31 04520493business:AbridgedAccounts2022-04-012023-03-31 045204932023-03-31 04520493business:Director12022-04-012023-03-31 04520493business:RegisteredOffice2022-04-012023-03-31 045204932022-03-31 04520493core:WithinOneYear2023-03-31 04520493core:WithinOneYear2022-03-31 04520493core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 04520493core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 04520493core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 04520493core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 04520493core:PreviouslyStatedAmount2023-03-31 04520493core:PreviouslyStatedAmount2022-03-31 04520493business:SmallEntities2022-04-012023-03-31 04520493countries:EnglandWales2022-04-012023-03-31 04520493core:FurnitureFittings2022-04-012023-03-31 04520493core:ComputerEquipment2022-04-012023-03-31 045204932021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. 04520493 (England and Wales)
P-Tech Ltd Unaudited accounts for the year ended 31 March 2023
P-Tech Ltd Unaudited accounts Contents
Page
- 2 -
P-Tech Ltd Company Information for the year ended 31 March 2023
Director
Mr James Julian Pennington
Company Number
04520493 (England and Wales)
Registered Office
84 Penshurst Way Nuneaton CV11 4XN United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
- 3 -
P-Tech Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,654 
3,353 
Current assets
Debtors
31,802 
22,801 
Cash at bank and in hand
21,739 
52,191 
53,541 
74,992 
Creditors: amounts falling due within one year
(12,487)
(23,120)
Net current assets
41,054 
51,872 
Total assets less current liabilities
43,708 
55,225 
Provisions for liabilities
Deferred tax
(504)
(637)
Net assets
43,204 
54,588 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
42,204 
53,588 
Shareholders' funds
43,204 
54,588 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 September 2023 and were signed on its behalf by
Mr James Julian Pennington Director Company Registration No. 04520493
- 4 -
P-Tech Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
P-Tech Ltd is a private company, limited by shares, registered in England and Wales, registration number 04520493. The registered office is 84 Penshurst Way, Nuneaton, CV11 4XN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% - Straight Line (2022: 25% - Reducing Balance)
Computer equipment
33% - Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 5 -
P-Tech Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
11,214 
Additions
973 
At 31 March 2023
12,187 
Depreciation
At 1 April 2022
7,861 
Charge for the year
1,672 
At 31 March 2023
9,533 
Net book value
At 31 March 2023
2,654 
At 31 March 2022
3,353 
5
Loans to directors
Movements on directors' loan accounts represents timing differences between amounts owed, and payments made to, directors in respect of expenses, remuneration and dividends. At the reporting date the amount owed by the company to Mr J Pennington was £535, a movement of £164 from the £699 owed by the company at the beginning of the period. Interest has not been charged on these balances and no guarantees have been provided by either the company or the directors.
6
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 6 -