PETROVENTURES_ADVISORY_LI - Accounts

PETROVENTURES ADVISORY LIMITED - Company Information

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Company Registration No. 06737452 (England and Wales)

PETROVENTURES ADVISORY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

PETROVENTURES ADVISORY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

PETROVENTURES ADVISORY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

as restated

Notes

Current assets

Cash at bank and in hand

1,345

10,730

Creditors: amounts falling due within one year

(18,039)

(14,585)

Total assets less current liabilities

(16,694)

(3,855)

Capital and reserves

Called up share capital

100

Profit and loss account

(16,794)

(3,955)

Shareholders' funds

(16,694)

(3,855)

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 July 2016

Mr Hormazd Naficy

Director

Company Registration No. 06737452

PETROVENTURES ADVISORY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

Director's loan

The director has loans outstanding with the company as follows:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director's Loan

13,499

2,908

16,407

13,499

2,908

16,407