Portland Electrical (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08467383 (England and Wales)

Financial Statements for the Year Ended 30 April 2018

for

Portland Electrical (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss L E Cooper

REGISTERED OFFICE:

33a High Street

Belper

Derbyshire

DE56 1GF

REGISTERED NUMBER:

08467383 (England and Wales)

ACCOUNTANTS:

NRB Accountancy Limited

33A High Street

Belper

Derbyshire

DE56 1GF

FIXED ASSETS

Intangible assets

4

-

2,100

Tangible assets

5

5,069

6,759

5,069

8,859

CURRENT ASSETS

Stocks

5,558

3,077

Debtors

6

22,927

16,242

Cash at bank

155

12,515

28,640

31,834

CREDITORS

Amounts falling due within one year

7

22,354

28,367

NET CURRENT ASSETS

6,286

3,467

TOTAL ASSETS LESS CURRENT LIABILITIES

11,355

12,326

PROVISIONS FOR LIABILITIES

963

1,284

NET ASSETS

10,392

11,042

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10,390

11,040

SHAREHOLDERS' FUNDS

10,392

11,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director on 29 January 2019 and were signed by:

Miss L E Cooper - Director

1.	STATUTORY INFORMATION

Portland Electrical (UK) 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.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

10,500

AMORTISATION

At 1 May 2017

8,400

Charge for year

2,100

At 30 April 2018

10,500

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

2,100

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

and 30 April 2018

13,363

DEPRECIATION

At 1 May 2017

6,604

Charge for year

1,690

At 30 April 2018

8,294

NET BOOK VALUE

At 30 April 2018

5,069

At 30 April 2017

6,759

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

22,492

15,639

Other debtors

435

603

22,927

16,242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

10,294

13,769

Taxation and social security

9,409

7,086

Other creditors

2,651

7,512

22,354

28,367

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director, Miss L Cooper, introduced funds to and withdrew funds from the company by way of a

director's loan account. This loan is interest free and repayable upon demand. At the year end the company owed the

director £1,765 (2017: £122 ) and this amount is included in creditors.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B Cooper.