Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13110253 Mr Alexei Petrov iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13110253 2023-12-31 13110253 2024-12-31 13110253 2024-01-01 2024-12-31 13110253 frs-core:CurrentFinancialInstruments 2024-12-31 13110253 frs-core:ComputerEquipment 2024-12-31 13110253 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13110253 frs-core:ComputerEquipment 2023-12-31 13110253 frs-core:FurnitureFittings 2024-12-31 13110253 frs-core:FurnitureFittings 2024-01-01 2024-12-31 13110253 frs-core:FurnitureFittings 2023-12-31 13110253 frs-core:MotorVehicles 2024-12-31 13110253 frs-core:MotorVehicles 2024-01-01 2024-12-31 13110253 frs-core:MotorVehicles 2023-12-31 13110253 frs-core:PlantMachinery 2024-12-31 13110253 frs-core:PlantMachinery 2024-01-01 2024-12-31 13110253 frs-core:PlantMachinery 2023-12-31 13110253 frs-core:WithinOneYear 2024-12-31 13110253 frs-core:ShareCapital 2024-12-31 13110253 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13110253 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13110253 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13110253 frs-bus:SmallEntities 2024-01-01 2024-12-31 13110253 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13110253 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13110253 frs-bus:Director1 2024-01-01 2024-12-31 13110253 frs-core:CurrentFinancialInstruments 1 2024-12-31 13110253 frs-core:CurrentFinancialInstruments 3 2024-12-31 13110253 frs-countries:EnglandWales 2024-01-01 2024-12-31 13110253 2022-12-31 13110253 2023-12-31 13110253 2023-01-01 2023-12-31 13110253 frs-core:CurrentFinancialInstruments 2023-12-31 13110253 frs-core:WithinOneYear 2023-12-31 13110253 frs-core:ShareCapital 2023-12-31 13110253 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13110253 frs-core:CurrentFinancialInstruments 1 2023-12-31 13110253 frs-core:CurrentFinancialInstruments 3 2023-12-31
Registered number: 13110253
PETROFF LTD
Unaudited Financial Statements
For The Year Ended 31 December 2024
CIGMA ACCOUNTING LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13110253
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 379,444 206,803
379,444 206,803
CURRENT ASSETS
Debtors 5 88,805 24,965
Investments 6 13,656 5,800
Cash at bank and in hand 31,666 4,899
134,127 35,664
Creditors: Amounts Falling Due Within One Year 7 (321,069 ) (391,306 )
NET CURRENT ASSETS (LIABILITIES) (186,942 ) (355,642 )
TOTAL ASSETS LESS CURRENT LIABILITIES 192,502 (148,839 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,669 ) (39,293 )
NET ASSETS/(LIABILITIES) 172,833 (188,132 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 172,832 (188,133 )
SHAREHOLDERS' FUNDS 172,833 (188,132)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexei Petrov
Director
27/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PETROFF LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13110253 . The registered office is Centurion House, London Road , Staines-upon-Thames, TW18 4AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% Reducing balance
Motor Vehicles 18% Reducing balance
Fixtures & Fittings 18% Redusing balance
Computer Equipment 18% Redusing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 2)
23 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 76,515 158,182 6,261 1,165 242,123
Additions 97,637 116,828 3,922 3,478 221,865
Disposals - (20,995 ) - - (20,995 )
As at 31 December 2024 174,152 254,015 10,183 4,643 442,993
Depreciation
As at 1 January 2024 7,475 26,126 1,121 598 35,320
Provided during the period 9,080 20,432 463 852 30,827
Disposals - (2,598 ) - - (2,598 )
As at 31 December 2024 16,555 43,960 1,584 1,450 63,549
Net Book Value
As at 31 December 2024 157,597 210,055 8,599 3,193 379,444
As at 1 January 2024 69,040 132,056 5,140 567 206,803
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,566 25,638
Amounts recoverable on contracts 60,467 -
Bad Debt Provision (673 ) (673 )
VAT 18,445 -
88,805 24,965
6. Current Asset Investments
2024 2023
£ £
Short term deposits 13,656 5,800
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 211,459 109,876
Trade creditors 25,259 82,878
Bank loans and overdrafts - 1,760
Other taxes and social security 53,263 107,786
VAT - 1,773
Net wages 22,197 800
Retention 5% Subcontractors 3,891 -
Accruals and deferred income 5,000 27,838
Director's loan account - 58,595
321,069 391,306
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 211,459 109,876
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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