Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312024-05-312023-06-01falseProvision of Trustee and Escrow services to clients00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07891947 2023-06-01 2024-05-31 07891947 2022-06-01 2023-05-31 07891947 2024-05-31 07891947 2023-05-31 07891947 c:Director1 2023-06-01 2024-05-31 07891947 d:PlantMachinery 2023-06-01 2024-05-31 07891947 d:PlantMachinery 2024-05-31 07891947 d:PlantMachinery 2023-05-31 07891947 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07891947 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-01 2024-05-31 07891947 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 07891947 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 07891947 d:CurrentFinancialInstruments 2024-05-31 07891947 d:CurrentFinancialInstruments 2023-05-31 07891947 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07891947 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07891947 d:ShareCapital 2024-05-31 07891947 d:ShareCapital 2023-05-31 07891947 d:RetainedEarningsAccumulatedLosses 2024-05-31 07891947 d:RetainedEarningsAccumulatedLosses 2023-05-31 07891947 d:RetainedEarningsAccumulatedLosses 2022-06-01 07891947 c:FRS102 2023-06-01 2024-05-31 07891947 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07891947 c:FullAccounts 2023-06-01 2024-05-31 07891947 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07891947 d:Subsidiary1 2023-06-01 2024-05-31 07891947 d:Subsidiary1 1 2023-06-01 2024-05-31 07891947 c:Consolidated 2024-05-31 07891947 c:ConsolidatedGroupCompanyAccounts 2023-06-01 2024-05-31 07891947 6 2023-06-01 2024-05-31 07891947 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-06-01 2024-05-31 07891947 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07891947









PT TRUSTEES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PT TRUSTEES LIMITED
REGISTERED NUMBER: 07891947

CONSOLIDATED BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
138,827
182,667

Tangible assets
 5 
5,713
8,176

  
144,540
190,843

Current assets
  

Debtors: amounts falling due within one year
 7 
229,765
253,027

Cash at bank and in hand
 8 
1,181,805
581,944

  
1,411,570
834,971

Creditors: amounts falling due within one year
 9 
(212,347)
(77,539)

Net current assets
  
 
 
1,199,223
 
 
757,432

Total assets less current liabilities
  
1,343,763
948,275

Provisions for liabilities
  

Deferred Taxation
  
(1,173)
(798)

  
 
 
(1,173)
 
 
(798)

Net assets
  
1,342,590
947,477


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,342,588
947,475

  
1,342,590
947,477


Page 1

 
PT TRUSTEES LIMITED
REGISTERED NUMBER: 07891947
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under the provisions of section 477 of the Companies Act 2006 and the member has not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 January 2025.




S K Sharma
Director

The notes on pages 5 to 14 form part of these financial statements.

Page 2

 
PT TRUSTEES LIMITED
REGISTERED NUMBER: 07891947

COMPANY BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
138,827
182,667

Tangible assets
 5 
4,692
8,176

Investments
 6 
344
374

  
143,863
191,217

Current assets
  

Debtors: amounts falling due within one year
 7 
208,077
252,653

Cash at bank and in hand
 8 
1,167,478
581,944

  
1,375,555
834,597

Creditors: amounts falling due within one year
  
(197,266)
(77,539)

Net current assets
  
 
 
1,178,289
 
 
757,058

Total assets less current liabilities
  
1,322,152
948,275

  

Provisions for liabilities
  

Deferred taxation
  
(1,173)
(798)

  
 
 
(1,173)
 
 
(798)

Net assets
  
1,320,979
947,477


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account brought forward
  
947,475
561,022

Profit for the year

  

373,502
386,453

Profit and loss account carried forward
  
1,320,977
947,475

  
1,320,979
947,477


Page 3

 
PT TRUSTEES LIMITED
REGISTERED NUMBER: 07891947
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and the member has not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 January 2025.


S K Sharma
Director

The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

PT Trustees Limited is a private company limited by shares and incorporated in England. Its
registered office is:
2nd Floor
Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 November 2014.

Page 5

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into GBP at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.4

Turnover

Turnover represents the value, net of value added tax and discounts, of Trustee and Escrow services provided to clients.

 
2.5

Comparative year

This is the first year the PT Trustees accounts require a consolidation, as a result the comparative year's figures (2023) are presented on a stand-alone basis.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Page 6

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Intangible fixed assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Software
-
20%

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 7

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institution. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
7
5

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)
Page 8

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible fixed assets

Group





Development expenditure

£



Cost


At 1 June 2023
219,200



At 31 May 2024

219,200



Amortisation


At 1 June 2023
36,533


Charge for the year
43,840



At 31 May 2024

80,373



Net book value



At 31 May 2024
138,827



At 31 May 2023
182,667

Intangible fixed assets consist of software development costs for Imperium (L). These are being amortised over a period of 5 years from August 2022.



Page 9

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
 
           4.Intangible fixed assets (continued)

Company




Development expenditure

£



Cost


At 1 June 2023
219,200



At 31 May 2024

219,200



Amortisation


At 1 June 2023
36,533


Charge for the year
43,840



At 31 May 2024

80,373



Net book value



At 31 May 2024
138,827



At 31 May 2023
182,667

Intangible fixed assets consist of software development costs for Imperium (L). These are being amortised over a period of 5 years from August 2022.

Page 10

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets

Group






Plant and machinery

£



Cost or valuation


At 1 June 2023
31,048


Additions
4,953



At 31 May 2024

36,001



Depreciation


At 1 June 2023
22,872


Charge for the year
7,416



At 31 May 2024

30,288



Net book value



At 31 May 2024
5,713



At 31 May 2023
8,176

Page 11

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

           5.Tangible fixed assets (continued)


Company






Plant and machinery

£

Cost or valuation


At 1 June 2023
31,048


Additions
3,592



At 31 May 2024

34,640



Depreciation


At 1 June 2023
22,872


Charge for the year
7,076



At 31 May 2024

29,948



Net book value



At 31 May 2024
4,692



At 31 May 2023
8,176






Page 12

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
374


Write offs
(30)



At 31 May 2024
344





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

PTT CZ.s.r.o
Ordinary
100%

The aggregate of the share capital and reserves as at 31 May 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
£
Profit/(Loss)
£

PTT CZ.s.r.o

21,955
21,611


7.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
111,436
113,528
89,789
113,154

Other debtors
118,329
139,499
118,288
139,499

229,765
253,027
208,077
252,653


Page 13

 
PT TRUSTEES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,181,805
581,944
1,167,478
581,944

1,181,805
581,944
1,167,478
581,944



9.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
12,837
18,600
9,000
18,600

Corporation tax
104,256
26,547
98,343
26,547

Other taxation and social security
27,033
16,910
23,386
16,910

Other creditors
68,221
15,482
66,537
15,482

212,347
77,539
197,266
77,539



10.


Pension commitments

Contributions to defined contribution plans are expensed in the period to which they relate.


11.


Related party transactions

Mr S K Sharma , the director and the shareholder was paid expenses of £24,236 (2023: £8,365) and  fees of £75,000 (2023: £75,000) during the year. 

Fiduciam Gobal Limited - Mr S K Sharma the director and the shareholder, is also a director and a shareholder in Fiduciam Global Limited. Fiduciam Global Limited paid trustees fees amounting to £0 (2023: £125,333) during the year.
 
Page 14