Company No: 07260955 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr A C D Petri
	Mrs H E Petri

REGISTERED OFFICE	Ground Floor Blackbrook Gate 1
	Blackbrook Business Park
	Taunton
	TA1 2PX
	United Kingdom

BUSINESS ADDRESS	Unit 1 Broadgauge Business Park
	Bishops Lydeard
	Somerset
	TA4 3RU

COMPANY NUMBER

07260955 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Blackbrook Gate 1
	Blackbrook Business Park
	Taunton
	Somerset TA1 2PX

	Note	2023		2022
		£		£
Fixed assets
Investments	4	180,113		180,113
		180,113		180,113
Current assets
Debtors	5	0		66,628
Cash at bank and in hand		85,916		6,614
		85,916		73,242
Creditors: amounts falling due within one year	6	( 254,054)		( 242,114)
Net current liabilities		(168,138)		(168,872)
Total assets less current liabilities		11,975		11,241
Net assets		11,975		11,241
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		11,875		11,141
Total shareholders' funds		11,975		11,241

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Petri Holdings Limited (registered number: 07260955) were approved and authorised for issue by the Board of Directors on 30 November 2023. They were signed on its behalf by:

Mr A C D Petri Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Petri Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is Unit 1 Broadgauge Business Park, Bishops Lydeard, Somerset, TA4 3RU.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover represents management charges in respect of services provided.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings

10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 April 2022	15,000		15,000
At 31 March 2023	15,000		15,000
Accumulated depreciation
At 01 April 2022	15,000		15,000
At 31 March 2023	15,000		15,000
Net book value
At 31 March 2023	0		0
At 31 March 2022	0		0

4. Fixed asset investments

Investments in subsidiaries

	2023
	£
Cost
At 01 April 2022	180,113
At 31 March 2023	180,113
Carrying value at 31 March 2023	180,113
Carrying value at 31 March 2022	180,113

5. Debtors

	2023		2022
	£		£
Amounts owed by Group undertakings	0		66,628

6. Creditors: amounts falling due within one year

	2023		2022
	£		£
Amounts owed to Group undertakings	11,634		0
Taxation and social security	252		976
Other creditors	242,168		241,138
	254,054		242,114

7. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100