Portuguese Vinhos Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09503706 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Portuguese Vinhos Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

2,639

629

CURRENT ASSETS

Stocks

15,630

6,263

Debtors

5

2,474

1,015

Cash at bank

1,677

1,151

19,781

8,429

CREDITORS

Amounts falling due within one year

6

36,613

17,388

NET CURRENT LIABILITIES

(16,832

)

(8,959

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,193

)

(8,330

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(14,194

)

(8,331

)

SHAREHOLDERS' FUNDS

(14,193

)

(8,330

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2017 and were signed on its behalf by:

S E Redman-Schaffer - Director

1.	STATUTORY INFORMATION

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

company's registered number and registered office address are as below:

Registered number:

09503706

Registered office:

9 The Vale

Woodford Green

Essex

IG8 9BT

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 3 years

Website development

-

Straight line over 4 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Going concern

The balance sheet at the end of the period recorded net liabilities. However, the directors believe that sufficient

financial resources are available to the company to enable it to continue trading into the foreseeable future.

Therefore, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

943

Additions

3,100

At 31 March 2017

4,043

DEPRECIATION

At 1 April 2016

314

Charge for year

1,090

At 31 March 2017

1,404

NET BOOK VALUE

At 31 March 2017

2,639

At 31 March 2016

629

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,600

212

Other debtors

874

803

2,474

1,015

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,965

167

Amounts owed to related party

33,898

16,296

Taxation and social security

-

75

Other creditors

750

850

36,613

17,388

7.	RELATED PARTY DISCLOSURES

At the year end the total amount due to a company in which M A Redman-Schaffer is a director is £33,898

(2016: 16,296)

8.	FIRST YEAR ADOPTION

There are no adjustments to be shown in a Reconciliation of Equity as at 23rd March 2015 (date of transition to

FRS102). There are also no adjustments to be made in the Reconciliation of Equity as at 31st March 2016, or in

the Reconciliation of Profit for the year ended 31st March 2016, as a result of the transition to FRS102.