Portgrove Estates Limited - Accounts to registrar (filleted) - small 18.2

Portgrove Estates Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10052790 (England and Wales)















PORTGROVE ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019






PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORTGROVE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DIRECTOR: J E K Davies





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 10052790 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,187 5,959
Investment property 5 627,022 627,022
633,209 632,981

CURRENT ASSETS
Debtors 6 10,217 6,581
Cash at bank 4,188 3,309
14,405 9,890
CREDITORS
Amounts falling due within one year 7 305,451 259,745
NET CURRENT LIABILITIES (291,046 ) (249,855 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

342,163

383,126

CREDITORS
Amounts falling due after more than one
year

8

413,808

413,808
NET LIABILITIES (71,645 ) (30,682 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 11 (71,655 ) (30,692 )
SHAREHOLDERS' FUNDS (71,645 ) (30,682 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

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 16 December 2019 and were signed by:





J E K Davies - Director


PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019


1. STATUTORY INFORMATION

Portgrove Estates 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.

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 etc - 25% on cost

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 or loss.

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 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.

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.

Going concern
The Financial Statements have been prepared on a going concern basis, as the director has confirmed that
funds will continue to be made available for the company to meet its day to day commitments for the foreseeable
future. The financial statements do not include any adjustments that may result from the withdrawal of this
support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation
of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2018 7,945
Additions 2,952
At 31 March 2019 10,897
DEPRECIATION
At 1 April 2018 1,986
Charge for year 2,724
At 31 March 2019 4,710
NET BOOK VALUE
At 31 March 2019 6,187
At 31 March 2018 5,959

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2018
and 31 March 2019 627,022
NET BOOK VALUE
At 31 March 2019 627,022
At 31 March 2018 627,022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 3,630 2,000
Directors' current accounts 5,001 4,391
Prepayments 1,586 190
10,217 6,581

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 7,523 3,074
Tax 198 63
Other creditors 291,381 253,808
Accruals and deferred income 3,959 -
Accrued expenses 2,390 2,800
305,451 259,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2019 2018
£    £   
Other loans 413,808 413,808

PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2019 2018
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 413,808 413,808

9. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Other loans 413,808 413,808

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
10 Ordinary A Shares £1 10 10

11. RESERVES
Retained
earnings
£   

At 1 April 2018 (30,692 )
Deficit for the year (40,963 )
At 31 March 2019 (71,655 )

12. RELATED PARTY DISCLOSURES

Mr J E K Davies has a material interest in Earl Kendrick Associates Limited.

At the year end date, included within other creditors, is an amount owed to Earl Kendrick Associates Limited of
£291,381 (2018: £250,808).

At the year end date, included within other debtors, is an amount owed by the director to the company of £5,001.
(2018: £4,392).

These amounts are unsecured, interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J E K Davies.