2023-05-012024-04-302024-04-30false07615249PTS COMPLIANCE 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PTS COMPLIANCE LTD

Registered Number
07615249
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

PTS COMPLIANCE LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

KAYE, Steven David
WALTERS, Mark

Registered Address

Unit 1 Brickfield Trading Estate, Brickfield Lane
Chandler's Ford
Eastleigh
SO53 4DR

Registered Number

07615249 (England and Wales)
PTS COMPLIANCE LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4221,411145,716
221,411145,716
Current assets
Debtors5244,009305,925
Cash at bank and on hand223,824239,553
467,833545,478
Creditors amounts falling due within one year6(318,341)(311,208)
Net current assets (liabilities)149,492234,270
Total assets less current liabilities370,903379,986
Creditors amounts falling due after one year(63,591)(119,425)
Provisions for liabilities(55,353)-
Net assets251,959260,561
Capital and reserves
Called up share capital200200
Profit and loss account251,759260,361
Shareholders' funds251,959260,561
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
KAYE, Steven David
Director
Registered Company No. 07615249
PTS COMPLIANCE LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings15
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year2828
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 23331,864
Additions130,115
Disposals(11,629)
At 30 April 24450,350
Depreciation and impairment
At 01 May 23186,148
Charge for year52,715
On disposals(9,924)
At 30 April 24228,939
Net book value
At 30 April 24221,411
At 30 April 23145,716
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables196,064290,510
Amounts owed by associates and joint ventures / participating interests19,078-
Other debtors4,1278,665
Prepayments and accrued income24,7406,750
Total244,009305,925
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables62,02761,492
Bank borrowings and overdrafts50,00050,000
Amounts owed to related parties-5
Taxation and social security192,301186,741
Finance lease and HP contracts6,7656,765
Other creditors3,4992,985
Accrued liabilities and deferred income3,7493,220
Total318,341311,208
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts9,42415,258
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
KAYE, Steven David(1)179,827170,2149,612
WALTERS, Mark(4)149,390139,9209,466
(5)329,217310,13419,078