PETO LIMITED

PETO LIMITED

PETO LIMITED - Company Information

Print Friendly Version

PETO LIMITED

Company Registration Number:
07320953 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2021

Period of accounts

Start date: 01 July 2020

End date: 30 June 2021

PETO LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2021

Balance sheet
Notes

PETO LIMITED

Balance sheet

As at 30 June 2021


Notes
2021
2020


£
£
Fixed assets
Intangible assets: 3 0 62,500
Tangible assets: 4 287 287
Total fixed assets: 287 62,787
Current assets
Debtors: 5 36,804 13,686
Cash at bank and in hand: 16,465 11
Total current assets: 53,269 13,697
Creditors: amounts falling due within one year: 6 (17,846) (28,276)
Net current assets (liabilities): 35,423 (14,579)
Total assets less current liabilities: 35,710 48,208
Creditors: amounts falling due after more than one year: 7 (77,000) (27,000)
Total net assets (liabilities): (41,290) 21,208
Capital and reserves
Called up share capital: 301,074 301,074
Share premium account: 3,572,651 3,572,651
Profit and loss account: (3,915,015) (3,852,517)
Shareholders funds: (41,290) 21,208

The notes form part of these financial statements

PETO LIMITED

Balance sheet statements

For the year ending 30 June 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 March 2022
and signed on behalf of the board by:

Name: I F Mackinnon
Status: Director

The notes form part of these financial statements

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goodssupplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards ofownership have transferred to the buyer (usually on despatch of the goods); the amount ofrevenue can be measured reliably; it is probable that the associated economic benefits will flowto the entity; and the costs incurred or to be incurred in respect of the transactions can bemeasured reliably.

Intangible fixed assets and amortisation policy

Intangible assets are initially recorded at cost, and are subsequently stated at cost less anyaccumulated amortisation and impairment losses. Any intangible assets carried at revaluedamounts, are recorded at the fair value at the date of revaluation, as determined by reference toan active market, less any subsequent accumulated amortisation and subsequent accumulatedimpairment losses. Intangible assets acquired as part of a business combination are only recognised separately fromgoodwill when they arise from contractual or other legal rights, are separable, the expected futureeconomic benefits are probable and the cost or value can be measured reliably.

Other accounting policies

Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residualvalue, over the useful economic life of that asset as follows: Equipment - 25% straight lineImpairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverableamount being estimated where such indicators exist. Where the carrying value exceeds therecoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed forpossible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverableamount of an individual asset, an estimate is made of the recoverable amount of thecash-generating unit to which the asset belongs. The cash-generating unit is the smallestidentifiable group of assets that includes the asset and generates cash inflows that largelyindependent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from theacquisition date, allocated to each of the cash-generating units that are expected to benefit fromthe synergies of the combination, irrespective of whether other assets or liabilities of thecompany are assigned to those units.

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

2. Employees

2021 2020
Average number of employees during the period 0 0

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

3. Intangible Assets

Total
Cost £
At 01 July 2020 62,500
At 30 June 2021 62,500
Amortisation
At 01 July 2020 0
Charge for year 62,500
At 30 June 2021 62,500
Net book value
At 30 June 2021 0
At 30 June 2020 62,500

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

4. Tangible Assets

Total
Cost £
At 01 July 2020 1,372
At 30 June 2021 1,372
Depreciation
At 01 July 2020 1,085
At 30 June 2021 1,085
Net book value
At 30 June 2021 287
At 30 June 2020 287

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

5. Debtors

2021 2020
££
Debtors due after more than one year: 36,804 13,686

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

6. Creditors: amounts falling due within one year note

2021 2020 £ £Social security and other taxes 17,846 28,276

PETO LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

7. Creditors: amounts falling due after more than one year note

2021 2020 £ £Other creditors 77,000 27,000