Portfolio Property & Developments Ltd - Limited company - abbreviated

REGISTERED NUMBER: 05860372

Abbreviated Accounts for the Year Ended 30 April 2014

for

Portfolio Property & Developments Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Criss

A Criss

SECRETARY:

Mrs E E Jessup

REGISTERED OFFICE:

Beaumont House

Harvest Hill

Bourne End

Buckinghamshire

SL8 5JJ

REGISTERED NUMBER:

05860372

ACCOUNTANTS:

George Arthur Limited

Chartered Accountants

York House

4 Wigmores South

Welwyn Garden City

Hertfordshire

AL8 6PL

FIXED ASSETS

Investments

2

12,358,610

CURRENT ASSETS

Stocks

215,271

Debtors

3

11,047,517

10,169,146

Cash at bank and in hand

3,472

12,043

11,266,260

10,396,460

CREDITORS

Amounts falling due within one year

4

2,938,927

3,057,321

NET CURRENT ASSETS

8,327,333

7,339,139

TOTAL ASSETS LESS CURRENT
LIABILITIES

20,685,943

19,697,749

CREDITORS

Amounts falling due after more than one
year

4

20,889,895

19,914,527

NET LIABILITIES

(203,952

)

(216,778

)

CAPITAL AND RESERVES

Called up share capital

5

90

Profit and loss account

(204,042

)

(216,868

)

SHAREHOLDERS' FUNDS

(203,952

)

(216,778

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 January 2015 and were signed on its
behalf by:

A Criss - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a going concern basis, as the shareholders have

expressed their willingness to continue to provide working capital support as and when necessary.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with

the Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Portfolio Property & Developments Ltd as an individual

company and do not contain consolidated financial information as the parent of a group. The company has

taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Turnover

Turnover represents the proceeds arising on the sale of properties plus rental income, excluding VAT,

which is accounted for on a receivable basis.

Properties held for resale

Stocks of properties are valued at the lower of cost or net realisable value. Cost is taken to be the actual

cost paid for the properties, including the costs of purchasing.

Deferred tax

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

balance sheet date.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

and 30 April 2014

12,358,610

NET BOOK VALUE

At 30 April 2014

12,358,610

At 30 April 2013

12,358,610

The company's investments at the balance sheet date in the share capital of companies include the

following:

Portfolio Property and Developments (Colchester) Ltd

Nature of business: Purchase and resale of properties

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

Aggregate capital and reserves

(290,646

)

(378,875

)

Profit/(loss) for the year

88,229

(24,565

)

Property Portfolio Estates Ltd

Nature of business: Holding company for property dealing

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

Aggregate capital and reserves

4,393,204

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 11,039,496 (2013 - £ 10,161,088 )

4.

CREDITORS

Creditors include an amount of £ 16,002,275 (2013 - £ 16,002,275 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

90

Ordinary

£1

90

Portfolio Property & Developments Ltd - Limited company - abbreviated - 11.6

Portfolio Property & Developments Ltd - Limited company - abbreviated - 11.6