Petroleum Expertise Ltd - Limited company - abbreviated

REGISTERED NUMBER: SC330449 (Scotland)

Abbreviated Accounts for the Year Ended 30 September 2014

for

PETROLEUM EXPERTISE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Report of the Accountants

4

DIRECTOR:

JA Laurenson

REGISTERED OFFICE:

C/O McDougall & Co

25 Rubislaw Terrace

Aberdeen

Aberdeenshire

AB10 1XE

REGISTERED NUMBER:

SC330449 (Scotland)

ACCOUNTANTS:

Account Tax Ltd

Chartered Certified Accountants

Traill Drive

Montrose

Angus

DD10 8SW

FIXED ASSETS

Tangible assets

2

818

1,091

CURRENT ASSETS

Debtors

-

1,096

Cash at bank

2,277

15,005

2,277

16,101

CREDITORS

Amounts falling due within one year

2,985

1,067

NET CURRENT (LIABILITIES)/ASSETS

(708

)

15,034

TOTAL ASSETS LESS CURRENT
LIABILITIES

110

16,125

CAPITAL AND RESERVES

Called up share capital

3

110

Profit and loss account

-

16,015

SHAREHOLDERS' FUNDS

110

16,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 20 February 2015 and were signed by:

JA Laurenson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost and 25% on reducing balance

Deferred tax

Deferred tax due to timing differences is immaterial and therefore not recognised.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

2,265

DEPRECIATION

At 1 October 2013

1,174

Charge for year

273

At 30 September 2014

1,447

NET BOOK VALUE

At 30 September 2014

818

At 30 September 2013

1,091

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

10

Ordinary B

£1

10

110

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £6,866 were paid to the director .

The company was under the control of the director, J A Laurenson throughout the current and

previous year.

During the year the director made net payments on behalf of the company totalling £2,794. As at 30

September included within other creditors is a balance of £1,698 (2013 - (£1,096)) in respect of the

directors loan account. No interest was paid on the loan.

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to three) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the

year ended 30 September 2014 set out on pages nil to nil and you consider that the company is exempt from

an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to

assist you to fulfil your statutory responsibilities, from the accounting records and information and

explanations supplied to us.