Portland Media Limited Accounts

PORTLAND MEDIA LIMITED - Company Information






Portland Media Limited

	Company No. 04905835
		Information for Filing with The Registrar
		31 July 2021

The Director presents his report and the accounts for the year ended 31 July 2021.

Principal activities
The principal activity of the company during the year under review was pre-press design and print management.




Director

The Director who served at any time during the year was as follows:

C.W. Rogers





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

C.W. Rogers
Director
27 April 2022

at	31 July 2021
Company No.		04905835	Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	3,958	3,569


				3,958	3,569
Current assets
	Stocks		5	100	100
	Debtors		6	16,404	13,202

	Cash at bank and in hand			40,240	46,084
				56,744	59,386
Creditors: Amount falling due within one year			7	(37,160)	(58,002)
Net current assets				19,584	1,384
Total assets less current liabilities				23,542	4,953

Provisions for liabilities
	Deferred taxation		8	(752)	(678)

Net assets				22,790	4,275

Capital and reserves
	Called up share capital			2	2



	Profit and loss account		9	22,788	4,273

Total equity				22,790	4,275



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 27 April 2022
And signed on its behalf by:
C.W. Rogers
Director
27 April 2022

for the year ended 31 July 2021

General information

Its registered number is: 04905835

Its registered office is:

43 Salters Close

Rickmansworth

Herts

WD3 1HH

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Motor vehicles

25% Straight line

Furniture, fittings and equipment

33% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3	Employees
			2021	2020
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Tangible fixed assets
			Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 August 2020	6,614	7,689	14,303
		Additions	-	2,576	2,576


		Disposals	-	(2,910)	(2,910)
		At 31 July 2021	6,614	7,355	13,969
		Depreciation
		At 1 August 2020	6,614	4,120	10,734
		Charge for the year	-	2,187	2,187


		Disposals	-	(2,910)	(2,910)
		At 31 July 2021	6,614	3,397	10,011
		Net book values
		At 31 July 2021	-	3,958	3,958
		At 31 July 2020	-	3,569	3,569

5	Stocks
			2021	2020
			£	£
		Raw materials and consumables	100	100


			100	100

6	Debtors
			2021	2020
			£	£
		Trade debtors	16,404	13,202







			16,404	13,202

7	Creditors:
		amounts falling due within one year
			2021	2020
			£	£




		Trade creditors	60	411

		Corporation tax	13,154	13,184
		Other taxes and social security	823	3,954
		Loans from directors	22,583	25,912
		Other creditors	40	14,040
		Accruals and deferred income	500	501
			37,160	58,002

8	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 August 2020	678	678
		Charge to the profit and loss account for the period	74	74

		At 31 July 2021	752	752

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Dividends
			2021	2020
			£	£
		Dividends for the period:
		Dividends paid in the period	37,880	56,475

			37,880	56,475

		Dividends by type:

		Equity dividends	37,880	56,475
			37,880	56,475