PETROL_HYPERMARKETS_LIMIT - Accounts

PETROL HYPERMARKETS LIMITED - Company Information

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Company Registration No. 02659168 (England and Wales)

PETROL HYPERMARKETS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Richard Anthony

Chartered Accountants

PETROL HYPERMARKETS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PETROL HYPERMARKETS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

Investments

4,351

4,353

Current assets

Stocks

183,608

Debtors

600

200

Cash at bank and in hand

5,788

3,151

189,996

186,959

Creditors: amounts falling due within one year

(240,347)

(245,381)

Net current liabilities

(50,351)

(58,422)

Total assets less current liabilities

(50,349)

(54,069)

Capital and reserves

Called up share capital

3,500

Other reserves

6,500

Profit and loss account

(60,349)

(64,069)

Shareholders' funds

(50,349)

(54,069)

For the financial year ended 31 December 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 14 September 2016

J F Sexton

Director

Company Registration No. 02659168

PETROL HYPERMARKETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 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 January 2015).

1.2

Turnover

Turnover represents the sale of petrol filling stations and includes amounts receivable for services net of Vat.

1.3

Tangible fixed assets and depreciation

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:

Plant and machinery

33.33% on cost

Fixtures, fittings & equipment

20% on cost

1.4

Investments

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

1.5

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes, in accordance with FRS 19. The deferred tax balance has not been discounted.

1.6

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2015

4,169

4,351

8,520

Disposals

(4,351)

At 31 December 2015

4,169

Depreciation

At 1 January 2015 & at 31 December 2015

4,167

Net book value

At 31 December 2015

At 31 December 2014

4,351

4,353

PETROL HYPERMARKETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

3,500 Ordinary shares of £1 each

3,500