Caseware UK (AP4) 2023.0.135 2023.0.135 false2022-11-014No description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI005759 2022-11-01 2023-10-31 NI005759 2021-11-01 2022-10-31 NI005759 2023-10-31 NI005759 2022-10-31 NI005759 c:Director4 2022-11-01 2023-10-31 NI005759 d:CurrentFinancialInstruments 2023-10-31 NI005759 d:CurrentFinancialInstruments 2022-10-31 NI005759 d:Non-currentFinancialInstruments 2023-10-31 NI005759 d:Non-currentFinancialInstruments 2022-10-31 NI005759 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 NI005759 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 NI005759 d:ShareCapital 2023-10-31 NI005759 d:ShareCapital 2022-10-31 NI005759 d:RetainedEarningsAccumulatedLosses 2023-10-31 NI005759 d:RetainedEarningsAccumulatedLosses 2022-10-31 NI005759 c:FRS102 2022-11-01 2023-10-31 NI005759 c:IndependentExaminationCharity 2022-11-01 2023-10-31 NI005759 c:FullAccounts 2022-11-01 2023-10-31 NI005759 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI005759 2 2022-11-01 2023-10-31 NI005759 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: NI005759










Petra Developments (1614) Ltd










Financial statements

Information for filing with the registrar

For the Year Ended 31 October 2023

 
Petra Developments (1614) Ltd
Registered number: NI005759

Balance Sheet
As at 31 October 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
1,397,631

Debtors: amounts falling due within one year
 5 
1,600,585
1,452,675

Cash at bank and in hand
 6 
310,510
-

  
1,911,095
2,850,306

Creditors: amounts falling due within one year
 7 
(221,493)
(997,012)

Net current assets
  
 
 
1,689,602
 
 
1,853,294

Total assets less current liabilities
  
1,689,602
1,853,294

  

Net assets
  
1,689,602
1,853,294


Capital and reserves
  

Called up share capital 
  
17,126
17,126

Profit and loss account
  
1,672,476
1,836,168

  
1,689,602
1,853,294


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Petra Developments (1614) Ltd
Registered number: NI005759

Balance Sheet (continued)
As at 31 October 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2024.




Garvan Rice
Director

The notes on pages 3 to 5 form part of these financial statements.

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Petra Developments (1614) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2023

1.


General information

Petra Developments (1614) Ltd is a private company limited by shares, registered in Northern Ireland.  The address of the registered office is 9 Cultra Station Road, Holywood, Northern Ireland, BT18 0AU. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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Petra Developments (1614) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the process of applying the company's accounting policies, management has not made any significant judgements. There are no key assumptions concerning the future or other key sources of estimation that have a significant risk of raising a material adjustment to the carrying amounts of assets or liabilities within the next financial period.


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).






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Petra Developments (1614) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
1,397,631

-
1,397,631


2023
2022
£
£

Due within one year

Other debtors
1,600,585
1,452,675

1,600,585
1,452,675



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
310,510
-

Less: bank overdrafts
-
(116,116)

310,510
(116,116)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
116,116

Bank loans
96,632
576,185

Trade creditors
-
17,136

Corporation tax
-
98,345

Accruals and deferred income
124,861
189,230

221,493
997,012



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