Portsand Limited - Abbreviated accounts 16.1
Portsand Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| Portsand Limited |
| Portsand Limited (Registered number: 07996580) |
| 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 | 3 |
| Portsand Limited |
| Company Information |
| for the year ended 31 March 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Portsand Limited (Registered number: 07996580) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 3 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| 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. |
| The financial statements were approved by the director on |
| Portsand Limited (Registered number: 07996580) |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have bee prepared on the going concern basis, which assumes that the company will continue in |
| operational existence for the foreseeable future, which the director considers to be appropriate. |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable |
| value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or |
| damaged stock where the net realisable value is less than cost. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it |
| can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the |
| underlying timing differences can be deducted. |
| Deferred tax is measured on a non-discounted basis at the average rates that are expected to apply in the periods in which the |
| timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by |
| the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
| Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
| Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| 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. |
| Portsand Limited (Registered number: 07996580) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 31 March 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary A shares | £1 |
| Ordinary B shares | £1 |
| 1,100 | 1,100 |