Athena Portfolio Limited 31/12/2017 iXBRL
Athena Portfolio Limited 31/12/2017 iXBRL
Statement of consent to prepare abridged financial statements
Company registration number:
09782470
Unaudited filleted abridged financial statements
Contents
Directors and other information
Directors report
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Directors and other information
Directors |
|
|
|
||
|
||
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
|
||
Business address |
|
|
|
||
|
||
|
||
|
||
Accountants |
|
|
WeWork | ||
1 Primrose Street | ||
City of London | ||
London | ||
EC2A 2EX | ||
Bankers |
|
|
CH-8070 | ||
Zurich (0835) | ||
Switzerland | ||
Directors report
Year ended 31 December 2017
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2017.
Directors
The directors who served the company during the year were as follows:
|
|
|
Small company provisions
This report was approved by the board of directors on
20 September 2018
and signed on behalf of the board by:
Director
Director
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Athena Portfolio Limited
Year ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Athena Portfolio Limited for the year ended 31 December 2017 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Athena Portfolio Limited, as a body, in accordance with the terms of our engagement letter dated 20 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Athena Portfolio Limited and state those matters that we have agreed to state to the board of directors of Athena Portfolio Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Athena Portfolio Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Athena Portfolio 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 Athena Portfolio Limited. You consider that Athena Portfolio 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 Athena Portfolio 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.
We have relied on the figures provided by the accountants acting for the company's overseas branch which accounts for all the transactions on these financial statements.
Chartered Certified Accountants
WeWork
1 Primrose Street
City of London
London
EC2A 2EX
20 September 2018
Abridged statement of financial position
31 December 2017
2017 | 2016 | ||||||||
Note | £ | £ | £ | £ | |||||
Current assets | |||||||||
Investments | 6 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: amounts falling due | |||||||||
after more than one year |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital | 7 |
|
|
||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholder funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 September 2018
, and are signed on behalf of the board by:
Director
Director
Company registration number:
09782470
Statement of changes in equity
Year ended 31 December 2017
Called up share capital | Profit and loss account | Total | |||
£ | £ | £ | |||
At 1 January 2016 | - | - | - | ||
Profit for the year |
|
|
|||
_______ | _______ | _______ | |||
Total comprehensive income for the year | - |
|
|
||
Issue of shares |
|
|
|||
_______ | _______ | _______ | |||
Total investments by and distributions to owners |
|
- |
|
||
_______ | _______ | _______ | |||
At 31 December 2016 and 1 January 2017 |
|
40,232 | 40,332 | ||
Profit for the year |
|
|
|||
_______ | _______ | _______ | |||
Total comprehensive income for the year | - |
|
|
||
_______ | _______ | _______ | |||
At 31 December 2017 |
|
|
|
||
_______ | _______ | _______ | |||
Notes to the financial statements
Year ended 31 December 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is WeWork, Third Floor, 1 Primrose Street, City of London, London, EC2A 2EX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Taxation
Financial instruments
4.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken outside United Kingdom.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2016:
3
).
6.
Investments
2017 | 2016 | |||
£ | £ | |||
Equities & Similar | 65,579 | 80,104 | ||
Equities & Similar- Corporate | 220,959 | 124,638 | ||
Equities & Similar Emerging Markets | 4,658 | 4,012 | ||
Bonds/ Euro | - | 18,763 | ||
Bonds-Corporate | 67,060 | 281,898 | ||
Bonds/various currencies | 39,524 | 38,606 | ||
_______ | _______ | |||
397,780 | 548,021 | |||
_______ | _______ | |||
The investments comprise of financial securities traded on the world financial markets. They have been valued on open market basis as at the 31st December 2017. The investments include which are held in trust on behalf of the company by one of the directors.
7.
Called up share capital
Issued, called up and fully paid
2017 | 2016 | ||||||||
No | £ | No | £ | ||||||
|
100 | 100 | 100 | 100 | |||||
_______ | _______ | _______ | _______ | ||||||
The company has issued 100 Ordinary Shares at par value during the current financial year as part of its initial share issue. All the shares have been fully subscribed and issued at par value. All shares issued have equal voting rights.
8.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2017 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
|
(
|
(
|
(
|
|
_______ | _______ | _______ | ||
2016 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
|
- |
(
|
(
|
|
_______ | _______ | _______ | ||
The director's loan is unsecured, it is not subject to interest and no date of repayment has been set. The directors retain the right to charge interest and set the repayment date which will be dependent on the company's performance.
9.
Controlling party
The company controlled by Dimitrios Mavropoulos, a director and shareholder of the company.
10.
Overseas branch
The amounts in the financial statements have been solely generated by the company's overseas branch
11.
Going concern
The company is dependent on its director and major shareholder for financial support to continue as a going concern.