2015-05-01
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Private Limited Company
05420331
2016-04-30
05420331
2015-05-01
2016-04-30
05420331
2015-04-30
05420331
2014-05-01
2015-04-30
05420331
uk-bus:Director1
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2016-04-30
05420331
uk-bus:OrdinaryShareClass1
2016-04-30
iso4217:GBP
For the year ended 30 April 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05420331
2
Portabello Ltd
For the year ended 30 April 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Portabello Ltd
Accountants' Report
For the year ended 30 April 2016
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 30 April 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Vickers Reynolds & Co (Lye) Ltd
'The Stables'
Dudley road
Lye, Stourbridge
West Midlands
DY9 8EL
1 of 4
4
| Abbreviated Balance Sheet |
Portabello Ltd
2016
2015
2
473,257
473,257
473,257
473,257
7,082
7,082
16,859
16,859
235,537
235,537
259,478
259,478
| Creditors: amounts falling due within one year |
(135,032)
(135,032)
124,446
124,446
Net current assets
| Total assets less current liabilities |
597,703
597,703
| Creditors: amounts falling due after more than one year |
(180,413)
(180,413)
417,290
Net assets
417,290
63,750
3
63,750
353,540
353,540
417,290
417,290
Shareholders funds
| For the year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts |
| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. |
| Date approved by the board: 05 April 2017 |
| Parminder Singh Sidhu Director |
| Signed on behalf of the board of directors |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
Portabello Ltd
For the year ended 30 April 2016
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
| No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected |
| useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
| would be immaterial. The directors undertake an annual impairment review of these properties. |
3 of 4
6
| Notes to the Abbreviated Financial Statements |
Portabello Ltd
For the year ended 30 April 2016
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
495,982
495,982
22,725
22,725
473,257
473,257
| Allotted called up and fully paid |
2016
2015
| 100 Class A shares of £1.00 each |
100
100
100
100
4 of 4
