Petrell Limited - Limited company - abbreviated - 11.9
Petrell Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Petrell Limited |
| Abbreviated Unaudited Accounts |
| for the Year Ended |
| 31 January 2015 |
| Petrell Limited (Registered number: 04320535) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 January 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 | to | 4 |
| Petrell Limited |
| Company Information |
| for the Year Ended 31 January 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Petrell Limited (Registered number: 04320535) |
| Abbreviated Balance Sheet |
| 31 January 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors on |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 January 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the going concern basis on the understanding that sufficient |
| future prospects and financial support exist to allow the company to trade for the next 12 months. |
| 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 net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Freehold property - Held at revaluation value |
| Improvements to property - 2% on cost |
| Plant and machinery - 20% on cost |
| Fixtures and fittings - 10% on reducing balance |
| Motor vehicles - 25% on cost |
| Computer equipment - 33% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| 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 February 2014 |
| Additions |
| Disposals | ( |
) |
| At 31 January 2015 |
| DEPRECIATION |
| At 1 February 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 January 2015 |
| NET BOOK VALUE |
| At 31 January 2015 |
| At 31 January 2014 |
| Petrell Limited (Registered number: 04320535) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 January 2015 |
| 3. | CREDITORS |
| Creditors include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable otherwise than by instalments | 100,000 | 100,000 |
| Repayable by instalments | 300,554 | 388,995 |
| 400,554 | 488,995 |
| Details of shares shown as liabilities are as follows: |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Preference | £1 |
| The preference shares are redeemable non-cumulative and confer the right to receive an annual preference |
| dividend calculated at a rate of 1.5% above Lloyds Bank plc base rate, payable within 3 months of the |
| company's financial year-end. The shares can be redeemed subject to the shareholder or company giving at |
| least 3 months notice in writing. The shares do not carry voting rights to attend or vote at general meetings |
| unless agenda includes the consideration of a resolution varying the rights of shareholders. |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |