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Company Registration No. 10856330 (England and Wales)
Petra Property Ltd Unaudited accounts for the year ended 31 December 2024
Petra Property Ltd Unaudited accounts Contents
Page
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Petra Property Ltd Company Information for the year ended 31 December 2024
Directors
M O Willis N Patwardhan
Company Number
10856330 (England and Wales)
Registered Office
3 Albion Road St Albans Hertfordshire AL1 5EB
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Petra Property Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
1,419,000 
1,419,000 
Current assets
Debtors
96,997 
103,185 
Cash at bank and in hand
1,727 
2,856 
98,724 
106,041 
Creditors: amounts falling due within one year
(27)
(27)
Net current assets
98,697 
106,014 
Total assets less current liabilities
1,517,697 
1,525,014 
Creditors: amounts falling due after more than one year
(1,484,186)
(1,488,686)
Provisions for liabilities
Deferred tax
(7,290)
(7,290)
Net assets
26,221 
29,038 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
26,219 
29,036 
Shareholders' funds
26,221 
29,038 
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2025 and were signed on its behalf by
N Patwardhan Director Company Registration No. 10856330
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Petra Property Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Petra Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 10856330. The registered office is 3 Albion Road, St Albans, Hertfordshire, AL1 5EB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Petra Property Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2024
1,149 
At 31 December 2024
1,149 
Depreciation
At 1 January 2024
1,149 
At 31 December 2024
1,149 
Net book value
At 31 December 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 January 2024
1,419,000 
At 31 December 2024
1,419,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
96,997 
103,185 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
27 
27 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
732,431 
732,431 
Loans from directors
751,755 
756,255 
1,484,186 
1,488,686 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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