Petek Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05205407

Petek Limited

Filleted Unaudited Financial Statements

30 September 2024

Petek Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	36,206	40,225
Investments	6	149,997	149,997
		---------	---------
		186,203	190,222

Current assets

Stocks		8,110	8,740
Debtors	7	1,000	1,000
Cash at bank and in hand		49,922	104,075
		--------	---------
		59,032	113,815

Creditors: amounts falling due within one year	8	168,761		202,275
		---------		---------
Net current liabilities			109,729	88,460
			---------	---------
Total assets less current liabilities			76,474	101,762
			--------	---------
Net assets			76,474	101,762
			--------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	76,374	101,662
	--------	---------
Shareholders funds	76,474	101,762
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Petek Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:

J Aker
Director

Company registration number: 05205407

Petek Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 80 The Woodlands, London N14 5RX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after discounts and value added tax. Revenue from the sale of food and beverages is recognised at the point of sale.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	4% straight line
Fixtures & Fittings	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 October 2023	20,000	113,387	133,387
Additions	–	1,900	1,900
	--------	---------	---------
At 30 September 2024	20,000	115,287	135,287
	--------	---------	---------
Depreciation
At 1 October 2023	12,000	81,162	93,162
Charge for the year	800	5,119	5,919
	--------	---------	---------
At 30 September 2024	12,800	86,281	99,081
	--------	---------	---------
Carrying amount
At 30 September 2024	7,200	29,006	36,206
	--------	---------	---------
At 30 September 2023	8,000	32,225	40,225
	--------	---------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 October 2023 and 30 September 2024	149,997
	---------
Impairment
At 1 October 2023 and 30 September 2024	–
	---------

Carrying amount
At 30 September 2024	149,997
	---------
At 30 September 2023	149,997
	---------

7. Debtors

	2024	2023
	£	£
Other debtors	1,000	1,000
	-------	-------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,769	4,571
Corporation tax	13,189	18,896
Social security and other taxes	12,561	39,306
Other creditors	141,242	139,502
	---------	---------
	168,761	202,275
	---------	---------

9. Related party transactions

The freehold interest in the company's premises rests with the director. The company did not pay any rent in connection with the occupation of the premises. While no formal lease is in existence, the freeholder has indicated that the company will be able to continue to use the premises for the foreseeable future.