Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31truetrueNo description of principal activity2023-08-01false44The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08162405 2023-08-01 2024-07-31 08162405 2022-08-01 2023-07-31 08162405 2024-07-31 08162405 2023-07-31 08162405 c:Director1 2023-08-01 2024-07-31 08162405 d:ComputerEquipment 2023-08-01 2024-07-31 08162405 d:ComputerEquipment 2024-07-31 08162405 d:ComputerEquipment 2023-07-31 08162405 d:CurrentFinancialInstruments 2024-07-31 08162405 d:CurrentFinancialInstruments 2023-07-31 08162405 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08162405 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08162405 d:ShareCapital 2024-07-31 08162405 d:ShareCapital 2023-07-31 08162405 d:RetainedEarningsAccumulatedLosses 2024-07-31 08162405 d:RetainedEarningsAccumulatedLosses 2023-07-31 08162405 c:FRS102 2023-08-01 2024-07-31 08162405 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08162405 c:FullAccounts 2023-08-01 2024-07-31 08162405 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08162405 2 2023-08-01 2024-07-31 08162405 6 2023-08-01 2024-07-31 08162405 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 08162405










PT ENTERPRISES EUROPE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
PT ENTERPRISES EUROPE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PT ENTERPRISES EUROPE LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PT Enterprises Europe Limited for the year ended 31 July 2024 which comprise the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of PT Enterprises Europe Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of PT Enterprises Europe Limited and state those matters that we have agreed to state to the Board of Directors of PT Enterprises Europe Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PT Enterprises Europe Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that PT Enterprises Europe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of PT Enterprises Europe Limited. You consider that PT Enterprises Europe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of PT Enterprises Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
26 March 2025
Page 1

 
PT ENTERPRISES EUROPE LIMITED
REGISTERED NUMBER: 08162405

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
100
100

Current assets
  

Debtors: amounts falling due within one year
 6 
20,173
104,838

Cash at bank and in hand
 7 
21,736
1,009

  
41,909
105,847

Creditors: amounts falling due within one year
 8 
(110,302)
(42,917)

Net current (liabilities)/assets
  
 
 
(68,393)
 
 
62,930

  

Net (liabilities)/assets
  
(68,293)
63,030


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(68,393)
62,930

  
(68,293)
63,030


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 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 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 by: 




J D Melton
Director

Date: 26 March 2025

Page 2

 
PT ENTERPRISES EUROPE LIMITED
REGISTERED NUMBER: 08162405
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

PT Enterprises Europe Limited is a private company, limited by shares, registered in England and Wales. The Company's registration number is 08162405. The registered office and principal place of business is 10 Queen Street Place, London EC4R 1AG. 
The principal activity is providing drug development services to contract research organizations, pharmaceutical and biotechnology industries via a global consultancy. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

Page 4

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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.

Page 5

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Computer equipment
-
25%
straight-line

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 6

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).





Page 7

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 August 2023
2,915



At 31 July 2024

2,915



Depreciation


At 1 August 2023
2,915



At 31 July 2024

2,915



Net book value



At 31 July 2024
-



At 31 July 2023
-


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
100



At 31 July 2024
100




Page 8

 
PT ENTERPRISES EUROPE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
100,939

Amounts owed by related parties
2,080
2,080

Other debtors
6,882
1,156

Prepayments and accrued income
11,211
663

20,173
104,838



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
21,736
1,009



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
479

Amounts owed to group undertakings
101,388
-

Other creditors
2,738
36,688

Accruals
6,176
5,750

110,302
42,917



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the Company to the fund and amount to £2,165 (2023 - £1,089).

 
Page 9