Abbreviated Company Accounts - PETRO-CHEM TECHNOLOGIES LIMITED

PETRO-CHEM TECHNOLOGIES LIMITED - Company Information

Registered Number 06963132

PETRO-CHEM TECHNOLOGIES LIMITED

Abbreviated Accounts

31 July 2013

PETRO-CHEM TECHNOLOGIES LIMITED Registered Number 06963132

Abbreviated Balance Sheet as at 31 July 2013

	Notes	2013	2012
		£	£
Fixed assets
Investments	2	462,943	462,943
		462,943	462,943
Current assets
Stocks		20,031	20,031
Debtors		83,116	83,116
Cash at bank and in hand		109	109
		103,256	103,256
Creditors: amounts falling due within one year		(16,506)	(16,506)
Net current assets (liabilities)		86,750	86,750
Total assets less current liabilities		549,693	549,693
Creditors: amounts falling due after more than one year		(813,188)	(813,188)
Total net assets (liabilities)		(263,495)	(263,495)
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		(264,495)	(264,495)
Shareholders' funds		(263,495)	(263,495)

For the year ending 31 July 2013 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 July 2014

And signed on their behalf by:
MS. MARY JANE MARIA, Director

PETRO-CHEM TECHNOLOGIES LIMITED Registered Number 06963132

Notes to the Abbreviated Accounts for the period ended 31 July 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Other accounting policies
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

2Fixed assets Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2012 462,943

At 31 July 2013 462,943