Accounts filed on 31-07-2015

truePortbannis Property and Management Services LimitedNI6257692015-07-31-142178002441814460800244800244-2997563131371338110102327911000001100000Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Turnover The turnover shown in the profit and loss account represents amounts invoiced during the period. Financial Instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 11000002855408144601100000285540814460Ordinary1110Ordinary111Balance sheet Spare note 3 (user defined)Investment Property In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation is provided for in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of many elements reflected in in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.2016-04-21Mr S Draffintruetruetruetruexbrli:sharesiso4217:GBPxbrli:purePortbannis Property and Management Services Limited2014-07-212015-07-31Portbannis Property and Management Services Limited2013-08-012014-07-20Portbannis Property and Management Services Limited2013-07-31Portbannis Property and Management Services Limited2014-07-20Portbannis Property and Management Services Limited2014-07-20Portbannis Property and Management Services Limited2015-07-31 2016-04-21