Portgrove Estates Limited - Accounts to registrar (filleted) - small 23.1.5
Portgrove Estates Limited - Accounts to registrar (filleted) - small 23.1.5
| REGISTERED NUMBER: |
| PORTGROVE ESTATES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PORTGROVE ESTATES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor, One Hobbs House, |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| BALANCE SHEET |
| 30 SEPTEMBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| 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 |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| Portgrove Estates Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| 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. |
| Going concern |
| The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 October 2021 |
| Additions |
| At 30 September 2022 |
| DEPRECIATION |
| At 1 October 2021 |
| Charge for year |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2021 |
| Additions |
| Revaluations | 210,643 |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| Following a review by the director, investment properties that originally cost £664,357 have been revalued to £875,000 in the year ended 30 September 2022. The difference between the carrying value and the original cost, being £210,643, has been included in Revaluation Reserves. |
| Fair value at 30 September 2022 is represented by: |
| £ |
| Valuation in 2021 | 662,481 |
| Valuation in 2022 | 212,519 |
| 875,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by associates |
| Other debtors |
| Directors' current accounts | 54,826 | - |
| Tax |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Amounts owed to associates | 515,857 | 347,242 |
| Tax |
| Directors' current accounts | - | 17,148 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other loans | 316,343 | 316,343 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Other loans |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary A Shares | £1 | 10 | 10 |
| 11. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2021 | ( |
) | (9,868 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Revaluation during the year |
| At 30 September 2022 | ( |
) | 149,587 |
| PORTGROVE ESTATES LIMITED (REGISTERED NUMBER: 10052790) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| 12. | RELATED PARTY DISCLOSURES |
| At the year-end date, included within debtors, is an amount of £110 (2021: £110) owed from related entities in which the director Mr J E K Davies has beneficial interest. |
| At the year-end date, included within debtors, is an amount of £54,827 owed from the director Mr J E K Davies. As of the previous year-end date, an amount of £17,149 was owed to the director Mr J E K Davies. |
| These amounts are unsecured, interest-free and payable on demand. |
| At the year-end date, included within creditors, amounts falling due within one year, is an amount of £512,021 (2021: £344,927) owed to related entities in which the director Mr J E K Davies has beneficial interest. |
| This amount is unsecured, interest-free and payable on demand. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |