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REGISTERED NUMBER: 03079491 (England and Wales)













PETROLUX PROPERTY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PETROLUX PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: P M Mason
Mrs L J Mason





SECRETARY: Mrs L J Mason





REGISTERED OFFICE: Newlands
Woodgate Avenue
Northaw
Potters Bar
Hertfordshire
EN6 4EW





REGISTERED NUMBER: 03079491 (England and Wales)





ACCOUNTANTS: John Crook & Partners
Chartered Accountants
255 Green Lanes
Palmers Green
London
N13 4XE

PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,096,063 3,985,493

CURRENT ASSETS
Debtors 5 150 -
Cash at bank 291,229 318,121
291,379 318,121
CREDITORS
Amounts falling due within one year 6 112,159 138,620
NET CURRENT ASSETS 179,220 179,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,275,283

4,164,994

PROVISIONS FOR LIABILITIES 7 459,577 349,279
NET ASSETS 3,815,706 3,815,715

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 2,094,262 2,204,560
Retained earnings 1,721,344 1,611,055
SHAREHOLDERS' FUNDS 3,815,706 3,815,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





P M Mason - Director


PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Petrolux Property Services 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 represents rental income receivable during the year.


Tangible fixed assets
Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows:

Fixtures and fittings 15% - reducing balance

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 and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 3,985,493
Additions 110,570
At 30 September 2024 4,096,063
NET BOOK VALUE
At 30 September 2024 4,096,063
At 30 September 2023 3,985,493

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2008 789,470
Valuation in 2009 451,041
Valuation in 2010 (10,967 )
Valuation in 2016 1,324,296
Cost 1,542,223
4,096,063

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,542,223 1,431,653

Investment properties were valued on an open market value basis on 30 September 2024 by a director, P.M.Mason. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 150 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Social security and other taxes 1,223 -
Other creditors 3,363 3,311
Deposits held 20,291 19,178
Corporation tax payable 43,761 35,832
Directors' current accounts 43,521 80,299
112,159 138,620

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 459,577 349,279

PETROLUX PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03079491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 349,279
Deferred tax rate increased 110,298
Balance at 30 September 2024 459,577

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

Interest totalling £4,817 (2023 £5,750) was paid to a director, L.J.Mason, during the year.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by P.M.Mason and L. Mason.