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REGISTERED NUMBER: 00951787 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

PETROS TEXTILES (1969) LIMITED

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETROS TEXTILES (1969) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTOR: Mr G W Holmes





SECRETARY: Mr W P Holmes





REGISTERED OFFICE: Valley Mills
Valley Road
Bradford
West Yorkshire
BD1 4RU





REGISTERED NUMBER: 00951787 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 66,365 34,981
Investments 5 98,624 98,624
Investment property 6 1,567,500 1,567,500
1,732,489 1,701,105

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 7 300,306 622,608
Cash at bank and in hand 1,035,886 726,635
1,351,192 1,364,243
CREDITORS
Amounts falling due within one year 8 (928,537 ) (856,363 )
NET CURRENT ASSETS 422,655 507,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,155,144

2,208,985

PROVISIONS FOR LIABILITIES (201,273 ) (201,273 )
NET ASSETS 1,953,871 2,007,712

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

BALANCE SHEET - continued
28 FEBRUARY 2025

2025 2024
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 800,832 800,832
Retained earnings 1,152,939 1,206,780
SHAREHOLDERS' FUNDS 1,953,871 2,007,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





Mr G W Holmes - Director


PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Petros Textiles (1969) 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.

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


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued
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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024 155,453
Additions 48,011
At 28 February 2025 203,464
DEPRECIATION
At 1 March 2024 120,472
Charge for year 16,627
At 28 February 2025 137,099
NET BOOK VALUE
At 28 February 2025 66,365
At 29 February 2024 34,981

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2024
and 28 February 2025 98,624
NET BOOK VALUE
At 28 February 2025 98,624
At 29 February 2024 98,624

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2024
and 28 February 2025 1,567,500
NET BOOK VALUE
At 28 February 2025 1,567,500
At 29 February 2024 1,567,500

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

6. INVESTMENT PROPERTY - continued

Fair value at 28 February 2025 is represented by:
£   
Valuation in 2016 1,567,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 12,248 13,371
Other debtors 4,019 4,019
Petros Textiles (1984) Limited 278,338 594,225
KM Holmes (Bradford) Ltd 1,012 1,012
Prepayments 4,689 9,981
300,306 622,608

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 5,390 3,690
Tax - 186
Social security and other taxes 11,796 11,553
VAT 5,932 9,333
Keighley Industrial Units Ltd 875,821 803,040
Bonds 20,698 20,242
Accruals and deferred income 8,900 8,319
928,537 856,363

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 March 2024
and 28 February 2025 800,832

PETROS TEXTILES (1969) LIMITED (REGISTERED NUMBER: 00951787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

11. CURRENT SHAREHOLDINGS

2025 2024

P. B. Holmes 7 7
S. K. Holmes 12 12
K. Holmes 27 27
T. Bradshaw 15 15
M. Bradshaw 12 12
E. G. Holmes 13 13
M. R. Holmes 14 14
Total 100 100