IRIS Accounts Production v18.3.0.590 01934062 Board of Directors 1.9.16 28.2.18 28.2.18 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 01934062 2016-08-31 01934062 2018-02-28 01934062 2016-09-01 2018-02-28 01934062 2015-08-31 01934062 2015-09-01 2016-08-31 01934062 2016-08-31 01934062 ns15:EnglandWales 2016-09-01 2018-02-28 01934062 ns14:PoundSterling 2016-09-01 2018-02-28 01934062 ns10:Director1 2016-09-01 2018-02-28 01934062 ns10:PrivateLimitedCompanyLtd 2016-09-01 2018-02-28 01934062 ns10:SmallEntities 2016-09-01 2018-02-28 01934062 ns10:AuditExempt-NoAccountantsReport 2016-09-01 2018-02-28 01934062 ns10:SmallCompaniesRegimeForDirectorsReport 2016-09-01 2018-02-28 01934062 ns10:SmallCompaniesRegimeForAccounts 2016-09-01 2018-02-28 01934062 ns10:FullAccounts 2016-09-01 2018-02-28 01934062 ns10:Director2 2016-09-01 2018-02-28 01934062 ns10:Director3 2016-09-01 2018-02-28 01934062 ns10:CompanySecretary1 2016-09-01 2018-02-28 01934062 ns10:RegisteredOffice 2016-09-01 2018-02-28 01934062 ns5:CurrentFinancialInstruments 2018-02-28 01934062 ns5:CurrentFinancialInstruments 2016-08-31 01934062 ns5:ShareCapital 2018-02-28 01934062 ns5:ShareCapital 2016-08-31 01934062 ns5:RetainedEarningsAccumulatedLosses 2018-02-28 01934062 ns5:RetainedEarningsAccumulatedLosses 2016-08-31 01934062 ns5:LeaseholdImprovements 2016-09-01 2018-02-28 01934062 ns5:PlantMachinery 2016-09-01 2018-02-28 01934062 ns5:FurnitureFittings 2016-09-01 2018-02-28 01934062 ns5:MotorVehicles 2016-09-01 2018-02-28 01934062 ns5:ComputerEquipment 2016-09-01 2018-02-28 01934062 ns5:LeaseholdImprovements 2016-08-31 01934062 ns5:PlantMachinery 2016-08-31 01934062 ns5:FurnitureFittings 2016-08-31 01934062 ns5:LeaseholdImprovements 2018-02-28 01934062 ns5:PlantMachinery 2018-02-28 01934062 ns5:FurnitureFittings 2018-02-28 01934062 ns5:LeaseholdImprovements 2016-08-31 01934062 ns5:PlantMachinery 2016-08-31 01934062 ns5:FurnitureFittings 2016-08-31 01934062 ns5:MotorVehicles 2016-08-31 01934062 ns5:ComputerEquipment 2016-08-31 01934062 ns5:MotorVehicles 2018-02-28 01934062 ns5:ComputerEquipment 2018-02-28 01934062 ns5:MotorVehicles 2016-08-31 01934062 ns5:ComputerEquipment 2016-08-31 01934062 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2018-02-28 01934062 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2016-08-31


REGISTERED NUMBER: 01934062 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2016 TO 28 FEBRUARY 2018

FOR

P.C.T. CARS LIMITED

P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 September 2016 to 28 February 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P.C.T. CARS LIMITED

COMPANY INFORMATION
For The Period 1 September 2016 to 28 February 2018







DIRECTORS: D G Pattison
S P Corbett
N C Taylor





SECRETARY: D G Pattison





REGISTERED OFFICE: No.3 Caroline Court
13 Caroline Street
St Paul's Square
Birmingham
B3 1TR





REGISTERED NUMBER: 01934062 (England and Wales)





ACCOUNTANTS: Prime Rochesters Limited
No.3 Caroline Court
13 Caroline Street
St Paul's Square
Birmingham
West Midlands
B3 1TR

P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)

BALANCE SHEET
28 February 2018

2018 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 8,721

CURRENT ASSETS
Stocks - 273,398
Debtors 5 26,348 19,274
Cash at bank and in hand 48,581 245,236
74,929 537,908
CREDITORS
Amounts falling due within one year 6 53,492 388,117
NET CURRENT ASSETS 21,437 149,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,437

158,512

PROVISIONS FOR LIABILITIES - 243
NET ASSETS 21,437 158,269

CAPITAL AND RESERVES
Called up share capital 3,900 3,900
Retained earnings 17,537 154,369
SHAREHOLDERS' FUNDS 21,437 158,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 November 2018 and were signed on its behalf by:





D G Pattison - Director


P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 September 2016 to 28 February 2018

1. STATUTORY INFORMATION

P.C.T. Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements for the 18 month period ended 28 February 2018 are the first financial statements that comply with
the provisions of Section 1A of FRS 102. The transition date is 1 September 2015. On transition the prior year financial
statements have not been restated as the directors do not consider the transitional adjustments to be material to the financial
statements.

The company ceased trading in January 2018 due to the lease on their current premises coming to an end and the directors
have decided not to continue the business.Therefore the financial statements have been prepared under the 'break up' basis.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and
assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision
and future periods if the revision effects both current and future periods.

In preparing these financial statements, the directors have made the following judgements:

The company reviews the carrying value of all assets for indications of impairment at each period. If indicators of
impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds
it recoverable amount. This process will usually involve the estimation of future cash flows which are likely to be generated
by the asset.

A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for
which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably
estimated. If the effect is material, provisions are determined by discounting the expected future cash flows at a rate that
reflects the time value of money and the risk specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ
and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources
is probable or not.

The directors have reviewed the asset lives and associated residual values of all fixed assets classes. In re-assessing asset
lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.
Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects
disposal values.

Turnover
Turnover represents net invoiced completed vehicle repairs, motor vehicle sales and the sale of sundry goods, excluding
value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 10% or 33.3% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.


P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 September 2016 to 28 February 2018

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent
that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively
enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted
or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are
charged to profit or loss in the period to which they relate.

P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 September 2016 to 28 February 2018

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities

All financial assets and 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
its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those
financial assets classified as at fair value through profit and loss, which are initially measured at fair value unless the
arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or
liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt
instrument.

Financial assets and liabilities are only offset at the balance sheet date when, and only when there exists a legally enforceable
right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and
settle the liability simultaneously.

Debt instruments that have no stated interest rate and are classified as payable or receivable within one year are initially
measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
Other debt instruments not meeting these conditions are measured at fair value through profit and loss.

Commitments to make or receive loan which meet the conditions mentioned above are measured at cost less impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows for the financial asset expire
or are settled, when the company transfers to another party substantially all the risks and rewards of ownership of the
financial asset, or the company, despite having retained some, but not all, significant risks and rewards of ownership, has
transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there
is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying
amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount
and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occuring
after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is
reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised
carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2016 - 10 ) .

P.C.T. CARS LIMITED (REGISTERED NUMBER: 01934062)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 September 2016 to 28 February 2018

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2016 7,045 66,601 36,401
Disposals (7,045 ) (66,601 ) (36,401 )
At 28 February 2018 - - -
DEPRECIATION
At 1 September 2016 7,045 61,408 36,401
Charge for period - 2,852 -
Eliminated on disposal (7,045 ) (64,260 ) (36,401 )
At 28 February 2018 - - -
NET BOOK VALUE
At 28 February 2018 - - -
At 31 August 2016 - 5,193 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2016 23,367 26,669 160,083
Disposals (23,367 ) (26,669 ) (160,083 )
At 28 February 2018 - - -
DEPRECIATION
At 1 September 2016 20,040 26,468 151,362
Charge for period 3,322 201 6,375
Eliminated on disposal (23,362 ) (26,669 ) (157,737 )
At 28 February 2018 - - -
NET BOOK VALUE
At 28 February 2018 - - -
At 31 August 2016 3,327 201 8,721

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2016
£    £   
Trade debtors 1,080 5,272
Other debtors 25,268 14,002
26,348 19,274

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2016
£    £   
Trade creditors 8,629 92,189
Taxation and social security 10,623 54,899
Other creditors 34,240 241,029
53,492 388,117