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REGISTERED NUMBER: 04014151 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Petros Geoscience Limited

Petros Geoscience Limited (Registered number: 04014151)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Petros Geoscience Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Dr C.J. Lister





SECRETARY: E Lister





REGISTERED OFFICE: 30 Bankside Court
Stationfields
Kidlington
Oxfordshire
OX5 1JE





REGISTERED NUMBER: 04014151 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Petros Geoscience Limited

The following reproduces the text of the report prepared for the director 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 Profit and Loss Account and certain other primary statements and the Report of the Director 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 Petros Geoscience Limited for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Petros Geoscience Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Petros Geoscience Limited and state those matters that we have agreed to state to the director of Petros Geoscience Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Petros Geoscience Limited 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 Petros Geoscience Limited. You consider that Petros Geoscience Limited 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 Petros Geoscience Limited. 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.






Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE


Date: .............................................

Petros Geoscience Limited (Registered number: 04014151)

Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 332,000 332,000
332,000 332,000

CURRENT ASSETS
Debtors 6 - 5,925
Cash at bank 15,372 29,715
15,372 35,640
CREDITORS
Amounts falling due within one year 7 (9,012 ) (4,144 )
NET CURRENT ASSETS 6,360 31,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,360

363,496

CREDITORS
Amounts falling due after more than
one year

8

-

(27,791

)

PROVISIONS FOR LIABILITIES 9 (9,036 ) (9,036 )
NET ASSETS 329,324 326,669

Petros Geoscience Limited (Registered number: 04014151)

Balance Sheet - continued
30 June 2024

30/6/24 30/6/23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 38,523 38,523
Retained earnings 290,799 288,144
329,324 326,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





Dr C.J. Lister - Director


Petros Geoscience Limited (Registered number: 04014151)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Petros Geoscience Limited 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current tax and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and deferred taxation assets and liabilities are not discounted.

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.

3. EMPLOYEES AND DIRECTORS

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

Petros Geoscience Limited (Registered number: 04014151)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 2,155
DEPRECIATION
At 1 July 2023
and 30 June 2024 2,155
NET BOOK VALUE
At 30 June 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 332,000
NET BOOK VALUE
At 30 June 2024 332,000
At 30 June 2023 332,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2018 40,559
Valuation in 2019 (15,000 )
Valuation in 2023 22,000
Cost 284,441
332,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors - 5,270
Other debtors - 655
- 5,925

Petros Geoscience Limited (Registered number: 04014151)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 5,786 -
Taxation and social security 1,092 2,206
Other creditors 2,134 1,938
9,012 4,144

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans - 27,791

9. PROVISIONS FOR LIABILITIES
30/6/24 30/6/23
£    £   
Deferred tax 9,036 9,036

Deferred
tax
£   
Balance at 1 July 2023 9,036
Balance at 30 June 2024 9,036