Portabella CF11 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11871582 (England and Wales)

PORTABELLA CF11 LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R E Loosemore

Mr D H Loosemore

Mr P J Reilly

Mr T M Young

REGISTERED OFFICE:

Nickel Yard

Bakers Row

Cardiff

CF10 1AL

REGISTERED NUMBER:

11871582 (England and Wales)

ACCOUNTANTS:

Carston Chartered Accountants

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

CURRENT ASSETS

Stocks

9,632,161

4,535,205

Debtors

4

23,502

37,668

Cash at bank

5,440

133,119

9,661,103

4,705,992

CREDITORS

Amounts falling due within one year

5

102,768

65,006

NET CURRENT ASSETS

9,558,335

4,640,986

TOTAL ASSETS LESS CURRENT LIABILITIES

9,558,335

4,640,986

CREDITORS

Amounts falling due after more than one year

6

9,565,771

4,644,911

NET LIABILITIES

(7,436

)

(3,925

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(7,536

)

(4,025

)

SHAREHOLDERS' FUNDS

(7,436

)

(3,925

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th September 2022 and were signed on its behalf by:

Mr D H Loosemore - Director

1.	STATUTORY INFORMATION

Portabella CF11 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

23,502

37,668

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

2,761

7,759

Other creditors

100,007

57,247

102,768

65,006

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

8,610,315

3,639,455

Other creditors

955,456

1,005,456

9,565,771

4,644,911

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary shares

1

100

100

8.	RELATED PARTY DISCLOSURES

The company was under the control of the directors as disclosed on page 1 of the financial statements throughout the year.

During the year Portabella CF11 Limited was invoiced £168,115 (2021 - £120,000) by Tucasa Limited, a company in which Mr. D.H. Loosemore, Mr. T.M.R. Young and Mr. P.J. Reilly have a controlling interest.

During the year Portabella CF11 Limited was invoiced £20,000 (2021 - £0) by Transworld Real Estate Limited, a company in which Mr. D.H. Loosemore and Mrs. R.E Loosemore have a controlling interest.

During the year Portabella CF11 Limited was invoiced £20,000 (2021 - £0) by Bora Property Investments Limited, Mr. T.M. Young has a controlling interest.

During the year Portabella CF11 Limited was invoiced £20,000 (2021 - £0) by Chapmans Peak Limited, Mr. P.J. Reilly has a controlling interest.

As at the year end Portabella CF11 Limited owed Transworld Real Estate Limited £955,456 (2021 - £1,005,456), a company in which Mr. D.H. Loosemore and Mrs. R.E Loosemore have a controlling interest.

As at the year end Portabella CF11 Limited was owed £1,000 (2021 - £0) by South Central Cardiff Limited, a company in which Mr. D.H. Loosemore, Mr. T.M. Young and Mr. P.J. Reilly have a controlling interest.