Company Registration No. 08329810 (England and Wales)
PORTLANE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
PORTLANE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PORTLANE LTD
Company Registration No. 08329810
ABBREVIATED BALANCE SHEET
AS AT 31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
180
180
Current assets
Debtors
50,128
-
Cash at bank and in hand
489,444
-
539,572
-
Creditors: amounts falling due within one year
(360)
(179)
Net current assets/(liabilities)
539,212
(179)
Total assets less current liabilities
539,392
1
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
539,391
-
Shareholders' funds
539,392
1
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 December 2016
J Walsh
Director
PORTLANE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Investments
£
Cost
At 1 April 2015 & at 31 March 2016
180
At 31 March 2015
180
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
4
Directors benefits: credit, advances , and guarantees
At the balance sheet date the company was owed £50,128 (2015 - £Nil) by J Walsh, the director. Interest on the balance due to the company is calculated at 3% was £127. The amount due to the company was repaid in full by 31 December 2016.
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