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REGISTERED NUMBER:
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B & W PETRO UK LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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REGISTERED NUMBER:
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B & W PETRO UK LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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B & W PETRO UK LIMITED (REGISTERED NUMBER: 08151637) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
B & W PETRO UK LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
B & W PETRO UK LIMITED (REGISTERED NUMBER: 08151637) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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B & W PETRO UK LIMITED (REGISTERED NUMBER: 08151637) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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B & W Petro UK Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The presentation currency of the financial statements is Pound Sterling (£) and is rounded to the nearest pound |
(£). |
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Preparation of consolidated financial statements |
The financial statements contain information about B & W Petro UK Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section |
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Significant judgements and estimates |
The preparation of financial statements requires the use of estimates and assumptions that affect reported |
amounts of assets and liabilities during the reporting period. These estimates and assumptions are based on |
management's best knowledge of the amount, event or actions. Actual results may differ from those amounts. |
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The director does not consider there to be any significant judgements or estimates used in the preparation of |
these financial statements. |
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Revenue recognition |
Revenue represents the value of advisory services provided to it's subsidiary undertaking. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
Financial instruments are recognised in line with Sections 11 and 12 of FRS 102. |
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Basic financial instruments such as bank and cash loans and trade receivables and payables are initially |
recognised at transaction price, unless they constitute a financing arrangement when the transaction is |
measured at the present value of the future receipts/payments discounted at a market rate of interest. Such |
instruments are subsequently carried at amortised cost using the effective interest rate method. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
B & W PETRO UK LIMITED (REGISTERED NUMBER: 08151637) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2017 |
and 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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Dividends of £1,322 were paid to the director during the year. At the time the dividend was paid the director was |
not aware that there were insufficient profits available for distribution and the director acknowledges that no |
further distributions can be made until there are sufficient profits available for that purpose. This amount has |
been reclassified to the director's loan account, to be repaid to the company. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | GOING CONCERN |
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At 31 December 2017 the company had net liabilities of £7,594 (2016: £4,704). |
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These accounts have been prepared on the going concern basis, which is dependent on the director and |
shareholder being able to continue to financially support the company. |
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The director has confirmed that he will continue to support the company for the foreseeable future. |
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On the basis of the above the director considers that the going concern basis is deemed appropriate for the |
preparation of these accounts. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
B & W PETRO UK LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of B & W Petro UK Limited for the year ended 31 December 2017 which comprise the Income |
Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of B & W Petro UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of B & W Petro UK Limited and state those matters that we have agreed to state to the director of B & W Petro UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & W Petro UK Limited and its director for our work or for this report. |
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It is your duty to ensure that B & W Petro UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of B & W Petro UK Limited. You consider that B & W Petro UK Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of B & W Petro UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
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