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COMPANY REGISTRATION NUMBER: 4602073
PTD Limited
Filleted Unaudited Financial Statements
31 October 2023
PTD Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
219
673
Current assets
Debtors
6
857
18,695
Cash at bank and in hand
6,382
1,773
------
-------
7,239
20,468
Creditors: amounts falling due within one year
7
9,251
32,828
------
-------
Net current liabilities
2,012
12,360
------
-------
Total assets less current liabilities
( 1,793)
( 11,687)
Provisions
Taxation including deferred tax
42
123
------
-------
Net liabilities
( 1,835)
( 11,810)
------
-------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 2,835)
( 12,810)
------
-------
Shareholders deficit
( 1,835)
( 11,810)
------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 January 2024 , and are signed on behalf of the board by:
Mr D R Jarvis
Director
Company registration number: 4602073
PTD Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The financial statements have been prepared on the going concern basis as the directors have injected sufficient funds to enable the company to keep trading and with a return to profitability in the year, which has continued since the year end, they have and expect to be able to continue to pay the company's liabilities as they fall due.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered during the year, net of discounts and Value Added Tax
(d) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
50% straight line
(g) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2022
6,787
6,787
Disposals
( 4,826)
( 4,826)
------
------
At 31 October 2023
1,961
1,961
------
------
Depreciation
At 1 November 2022
6,114
6,114
Charge for the year
454
454
Disposals
( 4,826)
( 4,826)
------
------
At 31 October 2023
1,742
1,742
------
------
Carrying amount
At 31 October 2023
219
219
------
------
At 31 October 2022
673
673
------
------
6. Debtors
2023
2022
£
£
Trade debtors
346
18,695
Other debtors
511
----
-------
857
18,695
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
10,020
Corporation tax
2,426
2,535
Social security and other taxes
1,431
Other creditors
6,825
18,842
------
-------
9,251
32,828
------
-------