Petrolynx Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08933892 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

PETROLYNX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P J Beck

REGISTERED OFFICE:

Pine Lodge

The Poplars

Coronation Road

Ascot

Berkshire

SL5 9HZ

REGISTERED NUMBER:

08933892 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

CURRENT ASSETS

Debtors

4

12,844

43,986

Cash at bank

212,217

186,797

225,061

230,783

CREDITORS

Amounts falling due within one year

5

18,369

37,586

NET CURRENT ASSETS

206,692

193,197

TOTAL ASSETS LESS CURRENT
LIABILITIES

206,692

193,197

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

206,592

193,097

SHAREHOLDERS' FUNDS

206,692

193,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 5 November 2019 and were signed by:

P J Beck - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents net invoiced sales of consulting services excluding value added tax.

Turnover is recognised in the period that the consulting services are provided.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

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 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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

1,619

DEPRECIATION

At 1 April 2018

and 31 March 2019

1,619

NET BOOK VALUE

At 31 March 2019

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

Trade debtors

9,206

43,986

Other debtors

3,638

-

12,844

43,986

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

Taxation and social security

3,165

27,577

Other creditors

15,204

10,009

18,369

37,586

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

100

Ordinary

£1

100

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

Director

Balance outstanding at start of year

(8,358

)

(7,883

)

Amounts repaid

(6,246

)

(475

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(14,604

)

(8,358

)

Petrolynx Ltd - Accounts to registrar (filleted) - small 18.2

Petrolynx Ltd - Accounts to registrar (filleted) - small 18.2