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REGISTERED NUMBER: SC079487 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

P T S LIMITED

P T S LIMITED (REGISTERED NUMBER: SC079487)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P T S LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: T. L. Paterson
J H Lannigan
E N Lannigan





REGISTERED OFFICE: 22/23 Airdrie Business Centre
1 Chapel Lane
Airdrie
ML6 6GX





REGISTERED NUMBER: SC079487 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

P T S LIMITED (REGISTERED NUMBER: SC079487)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,332 5,492

CURRENT ASSETS
Debtors 5 83,641 83,780
Cash at bank and in hand 253,551 301,166
337,192 384,946
CREDITORS
Amounts falling due within one year 6 13,603 17,328
NET CURRENT ASSETS 323,589 367,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,921

373,110

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 327,821 373,010
SHAREHOLDERS' FUNDS 327,921 373,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 March 2024 and were signed on its behalf by:





T. L. Paterson - Director


P T S LIMITED (REGISTERED NUMBER: SC079487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

P T S 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commission receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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
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 5 (2022 - 5 ) .

P T S LIMITED (REGISTERED NUMBER: SC079487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 28,673 22,327 47,819 98,819
Additions - 313 - 313
Disposals - - (2,560 ) (2,560 )
At 31 July 2023 28,673 22,640 45,259 96,572
DEPRECIATION
At 1 August 2022 28,573 18,234 46,520 93,327
Charge for year - 1,424 - 1,424
Eliminated on disposal - - (2,511 ) (2,511 )
At 31 July 2023 28,573 19,658 44,009 92,240
NET BOOK VALUE
At 31 July 2023 100 2,982 1,250 4,332
At 31 July 2022 100 4,093 1,299 5,492

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 66,145 59,848
Directors' current accounts - 5,602
VAT 3,115 2,216
Deferred tax asset 4,956 5,314
Prepayments 9,425 10,800
83,641 83,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 513 -
Trade creditors 4,198 8,454
Corporation tax 5,454 70
Payroll taxation (20,193 ) (3,642 )
Directors' current accounts 16,820 5,758
Accrued charges 6,811 6,688
13,603 17,328

7. ULTIMATE CONTROLLING PARTY

The controlling party is T. L. Paterson.