Port Europe Limited - Accounts to registrar

REGISTERED NUMBER: 04817919 (England and Wales)

Abridged Audited Financial Statements

for the Year Ended 31 March 2017

for

PORT EUROPE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S E H Tripot

REGISTERED OFFICE:

337 Bath Road

Slough

Berkshire

SL1 5PR

BUSINESS ADDRESS:

7 Avalon Road

Earley

Reading

Berkshire

RG6 7NS

REGISTERED NUMBER:

04817919 (England and Wales)

AUDITORS:

Masons Statutory Auditors

337 Bath Road

Slough

Berkshire

SL1 5PR

CURRENT ASSETS

Debtors

474,797

390,800

Cash at bank

5,891

45,956

480,688

436,756

CREDITORS

Amounts falling due within one year

57,486

62,768

NET CURRENT ASSETS

423,202

373,988

TOTAL ASSETS LESS CURRENT
LIABILITIES

423,202

373,988

CAPITAL AND RESERVES

Called up share capital

6

102

Retained earnings

423,100

373,886

SHAREHOLDERS' FUNDS

423,202

373,988

423,202

373,988

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 September 2017 and were signed by:

S E H Tripot - Director

1.	STATUTORY INFORMATION

Port Europe Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises of commissions receivable from other group companies for product sales the

company has generated on their behalf in the UK and Ireland.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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 profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

9,050

DEPRECIATION

At 1 April 2016

and 31 March 2017

9,050

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

102

Ordinary

£1

102

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Anthony Hook FCCA (Senior Statutory Auditor)

for and on behalf of Masons Statutory Auditors

8.	RELATED PARTY DISCLOSURES

At the period end the company had an amount owing to it from related group company's of £466,783

(2016 - £375,697). The balance is repayable upon demand and carries no right to interest.

9.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and

submit returns to the tax authorities and assist with the preparation of the financial statements.

Port Europe Limited - Accounts to registrar - small 17.2

Port Europe Limited - Accounts to registrar - small 17.2