Port Europe Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04817919 (England and Wales)

Abridged Audited Financial Statements

for the Year Ended 31 March 2020

for

PORT EUROPE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S E H Tripot

REGISTERED OFFICE:

337 Bath Road

Slough

Berkshire

SL1 5PR

BUSINESS ADDRESS:

7 Avalon Road

Earley

Reading

Berkshire

RG6 7NS

REGISTERED NUMBER:

04817919 (England and Wales)

AUDITORS:

Masons Statutory Auditors

337 Bath Road

Slough

Berkshire

SL1 5PR

CURRENT ASSETS

Debtors

391,438

395,423

Cash at bank

43,376

6,863

434,814

402,286

CREDITORS

Amounts falling due within one year

71,696

56,943

NET CURRENT ASSETS

363,118

345,343

TOTAL ASSETS LESS CURRENT
LIABILITIES

363,118

345,343

CAPITAL AND RESERVES

Called up share capital

5

102

Retained earnings

363,016

345,241

SHAREHOLDERS' FUNDS

363,118

345,343

363,118

345,343

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 Comprehensive Income and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 11 September 2020 and
were signed by:

S E H Tripot - Director

1.	STATUTORY INFORMATION

Port Europe 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Management make estimates and assumptions concerning the future. The resulting accounting

estimates and judgements by definition, seldom equal the related actual results. There are no estimates

and assumptions that have a significant risk of causing material adjustment to the carrying amounts of

assets and liabilities within the next financial period.

Turnover

Turnover comprises of commissions receivable from other group companies for product sales the

company has generated on their behalf in the UK and Ireland.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial

assets and liabilities.

Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan

receivable are measured initially at transaction price, net of transaction costs and are subsequently

measured at fair value using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of withdrawal. Cash equivalents are readily convertible to known amounts of cash with

insignificant risk of change in value.

Short term creditors are measured at transaction price. Long term creditors and loans are measured

initially at transaction price, net of transaction costs and are subsequently measured at fair value using

the effective interest method.

Debt instruments (other than those wholly repayable or receivable within one year), including loans

and other accounts receivable and payable, are initially measured at present value of the future cash

flows and subsequently at amortised cost using the effective interest method.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

102

Ordinary

£1

102

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Anthony Hook FCCA (Senior Statutory Auditor)

for and on behalf of Masons Statutory Auditors

7.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and

submit returns to the tax authorities and assist with the preparation of the financial statements.

8.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Fimotec SAS, a company registered in France.

The immediate parent company is Port Europe SAS, a company registered in France.

Port Europe Limited - Accounts to registrar (filleted) - small 18.2

Port Europe Limited - Accounts to registrar (filleted) - small 18.2