Portlemouth Estates Limited - Accounts to registrar (filleted) - small 18.2
Portlemouth Estates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Portlemouth Estates Limited |
| Unaudited Financial Statements |
| for the Year Ended 30th June 2021 |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Contents of the Financial Statements |
| for the Year Ended 30th June 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Portlemouth Estates Limited |
| Company Information |
| for the Year Ended 30th June 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 48 Arwenack Street |
| Falmouth |
| Cornwall |
| TR11 3JH |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Statement of Financial Position |
| 30th June 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Statement of Financial Position - continued |
| 30th June 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Notes to the Financial Statements |
| for the Year Ended 30th June 2021 |
| 1. | STATUTORY INFORMATION |
| Portlemouth Estates Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is the amount derived from rents received, net of value added tax. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st July 2020 |
| and 30th June 2021 |
| NET BOOK VALUE |
| At 30th June 2021 |
| At 30th June 2020 |
| The fixed asset investments have been included at the nominal value of the shares. |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st July 2020 |
| Additions |
| Disposals | ( |
) |
| Revaluations | 238,035 |
| At 30th June 2021 |
| NET BOOK VALUE |
| At 30th June 2021 |
| At 30th June 2020 |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th June 2021 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 30th June 2021 is represented by: |
| £ |
| Valuation in 2012 | 627,360 |
| Valuation in 2013 | 27,371 |
| Valuation in 2014 | 110,000 |
| Valuation in 2015 | (25,000 | ) |
| Valuation in 2016 | 25,000 |
| Valuation in 2017 | 15,000 |
| Valuation in 2018 | 271,096 |
| Valuation in 2019 | 165,000 |
| Valuation in 2020 | (20,000 | ) |
| Valuation in 2021 | 238,035 |
| Cost | 2,891,138 |
| 4,325,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 2,891,138 | 2,910,681 |
| Commercial investment property was valued on an open market basis basis on 30th June 2021 by David Edwards BSC (Est.Man) MRICS . |
| Residential investment property was valued on an open market basis by the directors as at 30th June 2021. |
| Note that the revaluation shown in 2012 contains all pre 2012 revaluations. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors | ( |
) |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Loan Over 5 years | 54,000 | 81,000 |
| Portlemouth Estates Limited (Registered number: 01031577) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th June 2021 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The bank hold a first priority fixed legal charge over Unit A1 Nexus Court and Brake Bros Industrial Units, Victoria Business Park. In addition, there is a fixed and floating charge over all the assets of the company. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 129,007 | 144,522 |
| (2020 - 144,522 ) |
| 11. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st July 2020 | 4,061,154 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Purchase of own shares | (451,496 | ) | 15,515 | (435,981 | ) |
| At 30th June 2021 | 3,971,044 |
| 12. | RETAINING EARNINGS |
| Included within total retained earnings of £3,943,051 is distributable reserves of £2,594,125. |