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REGISTERED NUMBER: 01934062 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

P.C.T. CARS LIMITED

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

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P.C.T. CARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2019







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
Chartered Accountants
No. 3 Caroline Court
13 Caroline Street
St Paul's Square
Birmingham
B3 1TR

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

BALANCE SHEET
28 FEBRUARY 2019

2019 2018
Notes £    £   
CURRENT ASSETS
Debtors 3 10,241 26,348
Cash at bank and in hand - 48,581
10,241 74,929
CREDITORS
Amounts falling due within one year 4 6,341 53,492
NET CURRENT ASSETS 3,900 21,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,900

21,437

CAPITAL AND RESERVES
Called up share capital 3,900 3,900
Retained earnings - 17,537
3,900 21,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 14 March 2019 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 YEAR ENDED 28 FEBRUARY 2019


1. 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 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.


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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2019


1. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 year 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 YEAR ENDED 28 FEBRUARY 2019


1. 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.


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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2019


1. ACCOUNTING POLICIES - continued
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 10 ) .

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors - 1,080
Other debtors 10,241 25,268
10,241 26,348

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors - 8,629
Taxation and social security - 10,623
Other creditors 6,341 34,240
6,341 53,492