Petrex (London) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01445620

Abbreviated Unaudited Accounts for the Year Ended 30 September 2014

for

Petrex (London) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P H Whiteside

D L Whiteside

P Whiteside

L B Boullin

SECRETARY:

D L Whiteside

REGISTERED OFFICE:

277-279 Chiswick High Road

London

W4 4PU

REGISTERED NUMBER:

01445620

ACCOUNTANTS:

Flintham Mackenzie

Chartered Accountants

277-279 Chiswick High Road

London

W4 4PU

FIXED ASSETS

Tangible assets

2

834

1,111

CURRENT ASSETS

Debtors

27,161

1,703,502

Cash at bank

971,238

1,181,530

998,399

2,885,032

CREDITORS

Amounts falling due within one year

704,674

2,618,895

NET CURRENT ASSETS

293,725

266,137

TOTAL ASSETS LESS CURRENT LIABILITIES

294,559

267,248

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

294,459

267,148

SHAREHOLDERS' FUNDS

294,559

267,248

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 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 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 Board of Directors on 26 June 2015 and were signed on its behalf by:

P H Whiteside - 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).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales and services rendered during the year.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost

less estimated residual value of each asset over its expected useful life, as follows:

Fixtures & fittings 25% reducing balance

Computer equipment 25% reducing balance

Deferred tax

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

Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a

binding agreement to sell the assets and recognised the gains and losses expected to rise on sale or where assets have been

sold and it is expected that the taxable gain will be rolled over into a replacement asset.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

50,302

DEPRECIATION

At 1 October 2013

49,191

Charge for year

277

At 30 September 2014

49,468

NET BOOK VALUE

At 30 September 2014

834

At 30 September 2013

1,111

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

50

Ordinary Class A

£1

50

100

(2013 - 100 )

50

Ordinary Class B

£1

50

-

100

100

4.	ULTIMATE CONTROLLING PARTIES

The ultimate controlling parties are P H Whiteside and D L Whiteside.