Portmay Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01641819 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PORTMAY PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T H Ashley-Miller

C L Evans

SECRETARY:

C L Evans

REGISTERED OFFICE:

2nd Floor

109 Uxbridge Road

London

W5 5TL

REGISTERED NUMBER:

01641819 (England and Wales)

ACCOUNTANTS:

Johnsons, Chartered Accountants

2nd Floor

109 Uxbridge Road

Ealing

London

W5 5TL

BANKERS:

Barclays Bank Plc

Wood Green Business Centre

River Park House

225 High Road

Wood Green

London

N22 6QQ

FIXED ASSETS

Tangible assets

2

-

23,700

CURRENT ASSETS

Stocks

2,490,559

2,021,164

Debtors

751,668

614,315

Cash at bank

1,581,129

548,001

4,823,356

3,183,480

CREDITORS

Amounts falling due within one year

926,119

1,671,817

NET CURRENT ASSETS

3,897,237

1,511,663

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,897,237

1,535,363

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

3,897,137

1,535,263

SHAREHOLDERS' FUNDS

3,897,237

1,535,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 29 September 2016 and were signed on its behalf
by:

C L Evans - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

Turnover represents sales of development property made during the year, excluding value added tax.

Stock

Stock is valued at the lower of cost and net realisable value. Cost includes all directly attributable expenses

including finance costs.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

23,700

Disposals

(23,700

)

At 31 December 2015

-

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

23,700

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100

4.	RELATED PARTY DISCLOSURES

Services to the value of £41,705 (2014 : £34,347) have been provided by Maison Design LLP, a partnership in

which Mr C L Evans and Miss TH Ashley-Miller are members.

£5,000 (2014 : £0) has also been paid to Miss Ashley-Miller for design services.

Maison Design LLP owes Portmay Properties Ltd £37,335 (2014: £37,335).

Turnhold (Islington) Ltd, a company in which Mr C L Evans is a director, owes Portmay Properties Ltd

£697,950 (2014 : £0).