Portal47 Limited - Abbreviated accounts 16.1

Portal47 Limited - Abbreviated accounts 16.1


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REGISTERED NUMBER: 06536265 (England and Wales)















PORTAL47 LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016






PORTAL47 LIMITED (REGISTERED NUMBER: 06536265)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Accountants' Report 6

PORTAL47 LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2016







DIRECTORS: M Dell
Mrs L M Dell





SECRETARY: Mrs L M Dell





REGISTERED OFFICE: 1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH





REGISTERED NUMBER: 06536265 (England and Wales)





ACCOUNTANTS: Clear Vision Accountancy Limited
1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH

PORTAL47 LIMITED (REGISTERED NUMBER: 06536265)

ABBREVIATED BALANCE SHEET
31 March 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 10,795 14,733

CURRENT ASSETS
Debtors 93,068 87,678
Prepayments and accrued income 2,417 910
Cash at bank and in hand 298,523 157,713
394,008 246,301
CREDITORS
Amounts falling due within one year 26,668 112,590
NET CURRENT ASSETS 367,340 133,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,135

148,444

PROVISIONS FOR LIABILITIES 2,159 3,015
NET ASSETS 375,976 145,429

CAPITAL AND RESERVES
Called up share capital 3 949 949
Profit and loss account 375,027 144,480
SHAREHOLDERS' FUNDS 375,976 145,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

PORTAL47 LIMITED (REGISTERED NUMBER: 06536265)

ABBREVIATED BALANCE SHEET - continued
31 March 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 26 July 2016 and were signed on its behalf by:





M Dell - Director


PORTAL47 LIMITED (REGISTERED NUMBER: 06536265)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
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
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on cost and 25% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Going concern
The directors have assessed whether the company is a going concern and have considered all available information
about the future and are confident of the company's ability to continue as a going concern.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 30,053
Additions 928
At 31 March 2016 30,981
DEPRECIATION
At 1 April 2015 15,320
Charge for year 4,866
At 31 March 2016 20,186
NET BOOK VALUE
At 31 March 2016 10,795
At 31 March 2015 14,733

PORTAL47 LIMITED (REGISTERED NUMBER: 06536265)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 March 2016

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
150 Ordinary A £1 150 150
799 Ordinary C shares £1 799 799
949 949

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2016 and
31 March 2015:

2016 2015
£    £   
M Dell and Mrs L M Dell
Balance outstanding at start of year (52,197 ) 5,413
Amounts advanced 80,415 63,283
Amounts repaid (26,502 ) (120,893 )
Balance outstanding at end of year 1,716 (52,197 )

Included in creditors at the year end is a loan to the directors Mr & Mrs M Dell of £1,716 (2015 - £52,197 debtor).

5. DIVIDENDS

Dividends of £134,146 (2015 - £453,543) were voted on behalf of the directors during the year.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PORTAL47 LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have
been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial
statements of Portal47 Limited for the year ended 31 March 2016 which comprise the Profit and Loss Account, the Balance
Sheet and the related notes from the company's accounting records and from information and explanations you have given
us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Portal47 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Portal47 Limited and state those matters that we have agreed to state to the Board of Directors of Portal47 Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Portal47 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Portal47 Limited. You consider that Portal47 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Portal47 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Clear Vision Accountancy Limited
1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH


27 July 2016