PORTFOLIO_MARKETING_COMMU - Accounts


Company Registration No. 07913371 (England and Wales)
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2014
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PORTFOLIO MARKETING COMMUNICATIONS LIMITED FOR THE YEAR ENDED 31 JANUARY 2014
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 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 Portfolio Marketing Communications Limited for the year ended 31 January 2014 set out on pages 3 to 9 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, 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 Portfolio Marketing Communications Limited, as a body, in accordance with the terms of our engagement letter dated 13 March 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Portfolio Marketing Communications Limited and state those matters that we have agreed to state to the Board of Directors of Portfolio Marketing Communications 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 Portfolio Marketing Communications Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Portfolio Marketing Communications 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 Portfolio Marketing Communications Limited. You consider that Portfolio Marketing Communications 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 Portfolio Marketing Communications 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.
Gerald Edelman
29 October 2014
Chartered Accountants
25 Harley Street
London
W1G 9BR
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2014
31 January 2014
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2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,157 
1,543 
Current assets
Debtors
22,055 
6,565 
Cash at bank and in hand
16,396 
8,227 
38,451 
14,792 
Creditors: amounts falling due within one year
(21,951)
(15,277)
Net current assets/(liabilities)
16,500 
(485)
Total assets less current liabilities
17,657 
1,058 
Capital and reserves
Called up share capital
3
100 
100 
Profit and loss account
17,557 
958 
Shareholders' funds
17,657 
1,058 
For the financial year ended 31 January 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 29 October 2014
R A Bryan
Director
Company Registration No. 07913371
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2014
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 April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for marketing consultancy services net of VAT.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performances. In respect of retainers, these are billed on monthly basis.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% reducing balance
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2013 & at 31 January 2014
2,058 
Depreciation
At 1 February 2013
515 
Charge for the period
386 
At 31 January 2014
901 
Net book value
At 31 January 2014
1,157 
At 31 January 2013
1,543 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2014
- 4 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
50 Ordinary-A of £1 each
50 
50 
50 Ordinary-B of £1 each
50 
50 
100 
100 
During the period the company issued 50 Ordinary-A shares of £1 each and 50 Ordinary-B shares of £1 each. All share classes were fully paid at par value.

Each class of share ranks pari passu in all respects except in the declaration of dividends, whereby one class of share shall not compel a dividend at the same rate to be declared for other class of share.
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