Petrell Limited - Accounts to registrar (filleted) - small 18.2
Petrell Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Petrell Limited |
| Unaudited Financial Statements |
| For The Period |
| 1st February 2019 to 31st March 2020 |
| Petrell Limited (Registered number: 04320535) |
| Contents of the Financial Statements |
| For The Period 1st February 2019 to 31st March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| Chartered Accountants' Report | 8 |
| Petrell Limited |
| Company Information |
| For The Period 1st February 2019 to 31st March 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Yare House |
| 62-64 Thorpe Road |
| Norwich |
| Norfolk |
| NR1 1RY |
| Petrell Limited (Registered number: 04320535) |
| Balance Sheet |
| 31st March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Petrell Limited (Registered number: 04320535) |
| Balance Sheet - continued |
| 31st March 2020 |
| 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 and authorised for issue on |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Financial Statements |
| For The Period 1st February 2019 to 31st March 2020 |
| 1. | STATUTORY INFORMATION |
| Petrell Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Financial Statements - continued |
| For The Period 1st February 2019 to 31st March 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st February 2019 |
| and 31st March 2020 |
| DEPRECIATION |
| At 1st February 2019 |
| Charge for period |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st January 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1st February 2019 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| Reclassification/transfer | ( |
) |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st January 2019 |
| Cost or valuation at 31st March 2020 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2019 | (42,604 | ) |
| Valuation in 2020 | 13,609 |
| Cost | 915,894 |
| 886,899 |
| Included in other investments is a managed portfolio with a market value of £886,899 (2019: £958,138) |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Financial Statements - continued |
| For The Period 1st February 2019 to 31st March 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Preference shares |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 125,000 | 125,000 |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Financial Statements - continued |
| For The Period 1st February 2019 to 31st March 2020 |
| 10. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1st February 2019 | 1,172,470 |
| Deficit for the period | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 31st March 2020 | 1,087,213 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 31st March 2020 and the year ended 31st January 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period |
| At the accounting year end the directors owed the company £34,120 (2019: £265,372). Interest has been charged and there are no fixed repayment terms. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Petrell Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Petrell Limited for the period ended 31st March 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Petrell Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Petrell Limited and state those matters that we have agreed to state to the Board of Directors of Petrell Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Petrell Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Petrell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Petrell Limited. You consider that Petrell Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Petrell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Yare House |
| 62-64 Thorpe Road |
| Norwich |
| Norfolk |
| NR1 1RY |