Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseNo description of principal activity88falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04928329 2023-05-01 2024-04-30 04928329 2022-05-01 2023-04-30 04928329 2024-04-30 04928329 2023-04-30 04928329 c:Director3 2023-05-01 2024-04-30 04928329 d:PlantMachinery 2023-05-01 2024-04-30 04928329 d:PlantMachinery 2024-04-30 04928329 d:PlantMachinery 2023-04-30 04928329 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04928329 d:MotorVehicles 2023-05-01 2024-04-30 04928329 d:MotorVehicles 2024-04-30 04928329 d:MotorVehicles 2023-04-30 04928329 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04928329 d:FurnitureFittings 2023-05-01 2024-04-30 04928329 d:FurnitureFittings 2024-04-30 04928329 d:FurnitureFittings 2023-04-30 04928329 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04928329 d:OfficeEquipment 2023-05-01 2024-04-30 04928329 d:OfficeEquipment 2024-04-30 04928329 d:OfficeEquipment 2023-04-30 04928329 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04928329 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04928329 d:Goodwill 2023-05-01 2024-04-30 04928329 d:Goodwill 2024-04-30 04928329 d:Goodwill 2023-04-30 04928329 d:CurrentFinancialInstruments 2024-04-30 04928329 d:CurrentFinancialInstruments 2023-04-30 04928329 d:Non-currentFinancialInstruments 2024-04-30 04928329 d:Non-currentFinancialInstruments 2023-04-30 04928329 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04928329 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04928329 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04928329 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04928329 d:ShareCapital 2024-04-30 04928329 d:ShareCapital 2023-04-30 04928329 d:RetainedEarningsAccumulatedLosses 2024-04-30 04928329 d:RetainedEarningsAccumulatedLosses 2023-04-30 04928329 c:FRS102 2023-05-01 2024-04-30 04928329 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04928329 c:FullAccounts 2023-05-01 2024-04-30 04928329 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04928329 6 2023-05-01 2024-04-30 04928329 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 04928329 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 04928329 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 04928329 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 04928329 d:RetirementBenefitObligationsDeferredTax 2024-04-30 04928329 d:RetirementBenefitObligationsDeferredTax 2023-04-30 04928329 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 04928329










P T M DESIGN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
P T M DESIGN LIMITED
REGISTERED NUMBER: 04928329

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
199,181
245,663

Investments
 6 
79,374
79,374

  
278,555
325,037

Current assets
  

Stocks
  
9,700
10,300

Debtors: amounts falling due within one year
 7 
440,961
564,128

Cash at bank and in hand
 8 
1,163,661
179,870

  
1,614,322
754,298

Creditors: amounts falling due within one year
 9 
(604,102)
(302,199)

Net current assets
  
 
 
1,010,220
 
 
452,099

Total assets less current liabilities
  
1,288,775
777,136

Creditors: amounts falling due after more than one year
 10 
(19,068)
(33,679)

Provisions for liabilities
  

Deferred tax
 11 
(42,133)
(41,593)

  
 
 
(42,133)
 
 
(41,593)

Net assets
  
1,227,574
701,864


Capital and reserves
  

Called up share capital 
  
6
6

Profit and loss account
  
1,227,568
701,858

  
1,227,574
701,864


Page 1

 
P T M DESIGN LIMITED
REGISTERED NUMBER: 04928329
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 income and retained earnings 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: 




T McGrory
Director

Date: 31 March 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

P T M Design Limited is a private company limited by shares incorporated in England and Wales. The registered office is unit B2, Sovereign Park Industrial Estate, Lathill Street, Market Harborough, Leicestershire, LE16 9EG.

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

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:

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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 operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible 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.

 
2.7

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 4

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
33%
on cost
Office equipment
-

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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company 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 Statement of Income and Retained Earnings 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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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.

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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.

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

Page 6

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts 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 payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Page 7

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 8

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
640,000



At 30 April 2024

640,000



Amortisation


At 1 May 2023
640,000



At 30 April 2024

640,000



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 9

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
543,463
93,692
39,066
903
677,124


Additions
1,903
-
-
1,782
3,685



At 30 April 2024

545,366
93,692
39,066
2,685
680,809



Depreciation


At 1 May 2023
349,385
46,146
35,102
828
431,461


Charge for the year on owned assets
34,934
11,887
2,798
548
50,167



At 30 April 2024

384,319
58,033
37,900
1,376
481,628



Net book value



At 30 April 2024
161,047
35,659
1,166
1,309
199,181



At 30 April 2023
194,078
47,546
3,964
75
245,663


6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 May 2023
79,374



At 30 April 2024
79,374




Page 10

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£


Trade debtors
59,392
63,531

Amounts owed by joint ventures and associated undertakings
322,826
312,356

Other debtors
9,345
99,863

Prepayments and accrued income
49,398
88,378

440,961
564,128



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,163,661
179,870



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
229,277
162,227

Amounts owed to joint ventures
3,665
3,665

Corporation tax
180,177
-

Other taxation and social security
144,558
78,505

Obligations under finance lease and hire purchase contracts
14,611
13,757

Other creditors
24,349
36,217

Accruals and deferred income
7,465
7,828

604,102
302,199



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
19,068
33,679


Page 11

 
P T M DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Deferred taxation




2024


£






At beginning of year
(41,593)


Charged to profit or loss
(540)



At end of year
(42,133)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(42,161)
(53,232)

Tax losses carried forward
-
11,584

Short term timing differences
28
55

(42,133)
(41,593)


12.


Related party transactions

At 30 April 2024 P T M Design Limited was owed £274,946 (2023: £258,516) from companies and partnerships under common control of the Directors.

 
Page 12