Portland Partners Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06969320 (England and Wales)

Financial Statements

for the Year Ended 31 July 2020

for

Portland Partners Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J D Francis

REGISTERED OFFICE:

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

REGISTERED NUMBER:

06969320 (England and Wales)

ACCOUNTANTS:

Roy Pinnock & Co LLP

Chartered Certified Accountants

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

FIXED ASSETS

Intangible assets

4

17,500

20,000

Tangible assets

5

716

-

18,216

20,000

CURRENT ASSETS

Debtors

6

3,120

-

Cash at bank

211,219

222,172

214,339

222,172

CREDITORS

Amounts falling due within one year

7

25,403

18,151

NET CURRENT ASSETS

188,936

204,021

TOTAL ASSETS LESS CURRENT LIABILITIES

207,152

224,021

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

207,151

224,020

SHAREHOLDERS' FUNDS

207,152

224,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 and authorised for issue on 27 May 2021 and were signed by:

J D Francis - Director

1.	STATUTORY INFORMATION

Portland Partners 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Franchise are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2019

and 31 July 2020

25,000

AMORTISATION

At 1 August 2019

5,000

Charge for year

2,500

At 31 July 2020

7,500

NET BOOK VALUE

At 31 July 2020

17,500

At 31 July 2019

20,000

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2019

2,347

Additions

1,068

At 31 July 2020

3,415

DEPRECIATION

At 1 August 2019

2,347

Charge for year

352

At 31 July 2020

2,699

NET BOOK VALUE

At 31 July 2020

716

At 31 July 2019

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade debtors

3,120

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Taxation and social security

9,455

6,878

Other creditors

15,948

11,273

25,403

18,151

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Francis.