REGISTERED NUMBER: |
Praetura Energy Trading Limited |
Audited Financial Statements |
for the Year Ended 31 January 2023 |
REGISTERED NUMBER: |
Praetura Energy Trading Limited |
Audited Financial Statements |
for the Year Ended 31 January 2023 |
Praetura Energy Trading Limited (Registered number: 11132594) |
Contents of the Financial Statements |
for the year ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Praetura Energy Trading Limited |
Company Information |
for the year ended 31 January 2023 |
Director: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditor |
178 Buckingham Avenue |
Slough |
Berkshire |
SL1 4RD |
Praetura Energy Trading Limited (Registered number: 11132594) |
Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Cash in hand |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 6 |
Retained earnings | 7 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Praetura Energy Trading Limited (Registered number: 11132594) |
Notes to the Financial Statements |
for the year ended 31 January 2023 |
1. | Statutory information |
Praetura Energy Trading Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Basis other than going concern |
As the company is planning to be liquidated post year end, balances within the financial statements have been written down to recoverable amounts. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Praetura Energy Trading Limited (Registered number: 11132594) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2023 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
VAT |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
6. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
7. | Reserves |
Retained |
earnings |
£ |
At 1 February 2022 | ( |
) |
Deficit for the year | ( |
) |
At 31 January 2023 | ( |
) |
8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
Praetura Energy Trading Limited (Registered number: 11132594) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2023 |
9. | Related party disclosures |
At the year end £100,000 (2022: £100,000) was owed to shareholders and included in other creditors. |
10. | Ultimate controlling party |
The ultimate controlling party is Regent Gas Holdings Limited. |
The ultimate controlling party is the Valecha Family. |
Regent Gas Holdings Limited prepares group financial statements and copies can be obtained from: |
Regent House |
Kendal Avenue |
Acton |
London |
W3 0XA |