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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
CONTENTS
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PTS CONSULTING GROUP LIMITED
COMPANY INFORMATION
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PTS CONSULTING GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their strategic report for the year ended 31 March 2025.
PTS Consulting Group Limited (‘the company’) and controlled entities (‘the group’) has a long standing reputation for the provision of world class IT solutions to some of the world’s leading organisations. We help our clients better align their IT, business and real estate strategies by transforming the workplace through technology and by optimising their data centre environment. Our ability to service clients globally allows for a cohesive, collaborative and uniform offering.
Our consulting practice covers workplace technology and data centres where we provide both IT consulting and technical project management which clients use when they want to transfer the risk of project success to a third party with a proven track record of successfully delivering over 15,000 complex assignments. Within this practice, we also provide IT resourcing solutions to clients who want to retain the risk of project success but require additional technical resources to help deliver the project or provide reliable support for existing operations. Our managed services practice provides a range of IT support solutions for clients who wish to outsource the delivery risk to a proven third party, particularly when these services are business critical but not core to their business. Our strategy of targeting international SMEs has been successful with the acquisition of some key accounts whom we support globally on a follow the sun basis. Key global accounts are managed by our UK headquarters, with portions of the work provided by partners from the PTS network, under local management. The business was sold to an Employee Ownership Trust on 5th March 2024. The shareholder is now PTS EOT Limited which has five Trustees who are responsible for ensuring that PTS Consulting Group Limited is operated for the benefit of the employees. There have been no subsequent events occurring between the year end and the date of authorisation of the financial statements.
The group remains committed to providing workplace transformation services to its clients on a global basis, ensuring they get the best out of their technology infrastructure and data centre environment. The directors are confident about the future prospects of the group but recognises the significant economic headwinds, including geopolitical impacts on inflation, prices and costs and the impact of new technologies such as Artificial Intelligence mitigating and developing where appropriate. The diversified client base and lengthy track record are positive, and the board is ever mindful of its fiduciary duty.
The board considers revenue, gross profit margin and earnings before interest, tax, depreciation and amortisation (EBITDA) to be the key performance indicators that can be applied to all the businesses in the group. The overall group revenue of £10.7m was up 16% (2024: £9.2m). The gross profit margin decreased to 32% (2024: 38%), with a trading EBITDA of £1,108k (2024: £121k).
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PTS CONSULTING GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The principal risks and uncertainties arising from both internal and external factors that could impact the group's performance and the related mitigating activities to manage the risk are considered below. The group has risk management processes to identify, monitor and evaluate such issues as they emerge, enabling the board to take appropriate action where possible.
Economic and market risk The group operates in the world’s largest economies where changes in the macro-economic environment may have an adverse impact upon its business. Strategies have been developed and implemented to mitigate business risk. The group chose not to operate in areas where there was persistent and underlying political or social unrest. The group operates in a highly competitive environment where clients have a choice of suppliers for the full range of services we offer. We mitigate the risk of client loss through dissatisfaction by maintaining a high level of customer contact, using experienced consultants to perform the work and develop a trusted relationship and adhere to our quality management system to continually improve our client’s experience. The group has developed a significant amount of intellectual property that it actively protects using the copyright laws. The group has also developed significant value in the PTS Consulting brand and logo that the directors continue to actively promote through marketing activity. Currency risk The group generated 40% of its business outside the UK and as such has been subject to the effect of changing exchange rates over which it has no control. As a result of its co operative programme, this is now limited to Ireland and is likely to account for less than 30% of its future business. Nevertheless, a limited exchange rate risk remains. Credit risk The group’s main credit risk relates to the recoverability of amounts owed by trade debtors. The group has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to any individual counterparty is subject to a limit, which is reassessed annually by the board. Liquidity risk The availability of sufficient working capital and banking facilities is key to ensuring the group can meet its obligations. The directors regularly review both short and long-term cash flow as well as performance forecasts to effectively manage liquidity.
This report was approved by the board and signed on its behalf.
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PTS CONSULTING GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors who served during the year were:
The group has banking partners in the UK who provide short-term funding to meet business needs for working capital. Cash and cash equivalents on its balance sheet at 31 March 2025 decreased to £1.245m (2024: £2.439m).
Group companies are responsible for paying their suppliers to agreed payment terms.
At the year-end there were 20 days (2024: 11 days) purchases in trade creditors.
The group engages around 80 workers as direct employees, partners or client-approved subcontractors. These people are critical to the success of the business and their retention, training and development is essential for our continued success. We have employment and remuneration policies in place to mitigate this risk together with regular performance reviews and internal social media for more effective communication. The group gives full and fair consideration to employment applications received from disabled persons and ensures that wherever possible continued employment is offered to employees who become temporarily or permanently disabled.
As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized companies and groups (Accounts and Reports) Regulations 2008', in the strategic report.
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PTS CONSULTING GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The auditor, Blick Rothenberg Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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PTS CONSULTING GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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PTS CONSULTING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PTS CONSULTING GROUP LIMITED
FOR THE YEAR ENDED 31 MARCH 2025
We have audited the financial statements of PTS Consulting Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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PTS CONSULTING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PTS CONSULTING GROUP LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
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PTS CONSULTING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PTS CONSULTING GROUP LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the group's sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and health and safety legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested a sample of journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates set out in the notes were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance; and
∙enquiring of management as to actual and potential litigation and claims.
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PTS CONSULTING GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PTS CONSULTING GROUP LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Auditor's responsibilities for the audit of the financial statements (continued)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
WC2B 5AH
Date:
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PTS CONSULTING GROUP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 33 form part of these financial statements.
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PTS CONSULTING GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 33 form part of these financial statements.
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PTS CONSULTING GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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PTS CONSULTING GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PTS Consulting Group Limited is a private company limited by shares and incorporated in England and Wales. The registered office is 16-18 Middlesex Street, London, E1 7EX5.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
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 judgement 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:
The group’s business activities, together with the factors likely to affect its future development, performance and position are set out in the strategic and directors’ reports. Information on the financial position of the group, including its cash flows, can be found in the primary statements.
The directors have prepared cash flow and covenant compliance forecasts for the group for the period to 30 September 2026, including reasonable possible downside scenarios. The group has access to an overdraft facility of £1.5m in aggregate The facility is financed by HSBC and is renewed annually with two covenants attached; which are tested quarterly when the facility has been accessed. The overdraft facility has not been utilised by the group since December 2019 and in the base case scenario of the directors' cash flow forecasts, it is not forecast to be utilised in the period to 30 September 2026. Consequently, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The consolidated financial statements include the financial statements of the company and its subsidiary undertakings made up to 31 March 2025. A subsidiary is an entity that is controlled by the parent. The results of subsidiary undertakings are included in the consolidated profit and loss account from the date that control commences until the date that control ceases. Control is established when the company has the power to govern the operating and financial policies of an entity so as to obtain benefits from its activities. In assessing control, the company takes into consideration potential voting rights that are currently exercisable.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Functional and presentation currency
The company's functional and presentational currency is Sterling (£). 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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Turnover represents revenue recognised by the group in respect of goods and services supplied exclusive of applicable sales tax and trade discounts. If the revenue recognised exceeds the amounts charged to customers, the difference is presented within prepayments and accrued income in the balance sheet. If amounts charged to customers exceed the revenue recognised, the difference is presented within accruals and deferred income in the balance sheet. Accrued or deferred revenue is recognised to ensure that revenue is recognised in the correct period in line with the goods and services provided.
Revenue earned under contracts to provide professional services or resourcing services are recognised when the services are delivered and measured at the fair value of the consideration received. Revenue from the supply of goods is recognised when the goods are delivered and the risk and rewards associated with ownership has transferred to the buyer.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (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:
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.
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. 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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Business combinations are accounted for using the purchase method as at the acquisition date, which is the date on which control is transferred to the entity.
At the acquisition date, the group recognises goodwill as the acquisition date as:
∙the fair value of the consideration (excluding contingent consideration) transferred; plus
∙estimated amount of contingent consideration (see below); plus
∙the fair value of the equity instruments issued; plus
∙directly attributable transaction costs; less
∙the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities and contingent liabilities assumed
Change in subsidiary ownership and loss of control
Changes in the group's interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions.
Where the group loses control of a subsidiary, the assets and liabilities are derecognised along with any related non controlling interest and other components of equity. Any resulting gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is re-measured at fair value when control is lost.
Interest payable and similar charges include interest payable, finance charges on shares classified as liabilities and finance leases recognised in profit or loss using the effective interest method, unwinding of the discount on provisions, and net foreign exchange losses that are recognised in the profit and loss account (see foreign currency accounting policy).
Interest payable is recognised in profit or loss as it accrues, using the effective interest method. Dividend income is recognised in the profit and loss account on the date the entity's right to receive payments is established. Foreign currency gains and losses are reported on a net basis.
In the year ended 31 March 2023, the group disposed of its overseas subsidiary and as a result the corresponding currency translation reserve that had arisen to the date of the disposal should have been derecognised and transferred to the profit and loss reserve. Accordingly, the directors have made the transfer as an adjustment between the opening currency translation reserve and the profit and loss reserve. There is no impact on profit or loss, or on net assets as a result of this restatement.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Recognition of revenue The directors assess the appropriate amount of revenue to recognise on each project in progress at the reporting date by reference to the value of work completed and the accrued right to consideration. This assessment takes account of the proportion of costs incurred to costs to complete in line with contractual obligations. License fee income Revenue includes license fee income received from trading entities disposed of in prior years. License fees were charged for continued use of the PTS brand. The directors consider it appropriate to recognise the license fees in the period they are earned.
The whole of the turnover is attributable to the group's principal activity.
Analysis of turnover by country of destination:
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
9.Taxation (continued)
There were no factors that may affect future tax charges.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Capital redemption reserve
Foreign exchange reserve
Profit and loss account
The UK trading entities participate in an offset banking arrangement under which there is an unlimited intercompany cross guarantee, provided in favour of HSBC Bank Plc. in place to support all of the participants and a guarantee from the company.
The group operated a defined contribution scheme for its employees. The cost for the year is £223,658 (2024: £235,369) has been charged to the profit and loss account. The schemes’ funds are independent of the group’s finances. Contributions are charged against the profit and loss account in the year in which they are payable.
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PTS CONSULTING GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The ultimate controlling party of the company is PTS Employee Ownership Trust, as a result of its ownership of the issued share capital.
PTS Employee Ownership Trust was established in 2024 for the benefit of present and future officers, and employees of the company or any subsidiary undertaking.
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