Portland Hill Design & Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02833666 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Portland Hill Design & Management Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

S Mohammadian

REGISTERED OFFICE:

925 Finchley Road

London

NW11 7PE

REGISTERED NUMBER:

02833666 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,294

6,958

5,294

6,958

CURRENT ASSETS

Debtors

183,096

241,513

Cash at bank

9,889

-

192,985

241,513

CREDITORS

Amounts falling due within one year

112,882

76,006

NET CURRENT ASSETS

80,103

165,507

TOTAL ASSETS LESS CURRENT LIABILITIES

85,397

172,465

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

(64,603

)

22,465

SHAREHOLDERS' FUNDS

85,397

172,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 September 2019 and were signed by:

S Mohammadian - Director

1.	STATUTORY INFORMATION

Portland Hill Design & Management Ltd 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.

Turnover

Turnover represents retail concession income, commission from estate agency activities and construction

services excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and Machinery 25% on reducing balance

Computer Equipment 25% on reducing balance

Fixtures and Fittings 7.25% on straight line

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are

recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity

at the balance sheet date ("percentage-of-completion method"). When the outcome of a construction contract

cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that are likely

to be recoverable. When it is probable that total contract costs will exceed total contract revenue, the expected

loss is recognised as an expense immediately.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

15,000

AMORTISATION

At 1 January 2018

and 31 December 2018

15,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

75,093

DEPRECIATION

At 1 January 2018

68,135

Charge for year

1,664

At 31 December 2018

69,799

NET BOOK VALUE

At 31 December 2018

5,294

At 31 December 2017

6,958

6.	ULTIMATE PARENT COMPANY

The ultimate parent company is Portland Hill Group Limited.