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REGISTERED NUMBER: 06471416 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PETROBEA LTD

PETROBEA LTD (REGISTERED NUMBER: 06471416)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PETROBEA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: I W Thomson
Mrs L D Thomson





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 06471416 (England and Wales)





ACCOUNTANTS: CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS

PETROBEA LTD (REGISTERED NUMBER: 06471416)

BALANCE SHEET
31 JANUARY 2024

31.1.23 31.1.24
£    £    Notes £    £   
FIXED ASSETS
416 Tangible assets 4 208
21,117 Investments 5 21,117
21,533 21,325

CURRENT ASSETS
35,356 Debtors 6 37,610
- Investments 7 18,371
337,385 Cash at bank 313,685
372,741 369,666
CREDITORS
77,241 Amounts falling due within one year 8 75,411
295,500 NET CURRENT ASSETS 294,255
317,033 TOTAL ASSETS LESS CURRENT
LIABILITIES

315,580

CAPITAL AND RESERVES
50 Called up share capital 50
316,983 Retained earnings 315,530
317,033 SHAREHOLDERS' FUNDS 315,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PETROBEA LTD (REGISTERED NUMBER: 06471416)

BALANCE SHEET - continued
31 JANUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





I W Thomson - Director


PETROBEA LTD (REGISTERED NUMBER: 06471416)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Petrobea Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

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.

Investments
Fixed asset investments are included at the market value prevailing at the end of the accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

PETROBEA LTD (REGISTERED NUMBER: 06471416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 833
DEPRECIATION
At 1 February 2023 417
Charge for year 208
At 31 January 2024 625
NET BOOK VALUE
At 31 January 2024 208
At 31 January 2023 416

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 21,117
NET BOOK VALUE
At 31 January 2024 21,117
At 31 January 2023 21,117

Cost or valuation at 31 January 2024 is represented by:

Other
investments
£   
Cost 21,117

6. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 2,631 -
Other debtors 2,436 2,813
5,067 2,813

PETROBEA LTD (REGISTERED NUMBER: 06471416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. DEBTORS - continued
31.1.24 31.1.23
£    £   
Amounts falling due after more than one year:
Other debtors 32,543 32,543

Aggregate amounts 37,610 35,356

7. CURRENT ASSET INVESTMENTS
31.1.24 31.1.23
£    £   
Listed investments 18,371 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 4 -
Taxation and social security 26,353 16,935
Other creditors 49,054 60,306
75,411 77,241

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
I W Thomson
Balance outstanding at start of year (25,393 ) 84,678
Amounts advanced 4,881 -
Amounts repaid - (110,071 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (20,512 ) (25,393 )

Mrs L D Thomson
Balance outstanding at start of year (33,257 ) 22,521
Amounts advanced 4,796 -
Amounts repaid - (55,778 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28,461 ) (33,257 )

Interest has been charged on the loans to directors at HMRC's prevailing official rate of interest on the balance outstanding at each month end.

10. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors, Ian Thomson and Mrs Lisa Thomson.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PETROBEA LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Petrobea Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Petrobea Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Petrobea Ltd and state those matters that we have agreed to state to the Board of Directors of Petrobea Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Petrobea Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Petrobea Ltd. You consider that Petrobea Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Petrobea Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS


25 March 2025