Portland Apartments Limited - Limited company accounts 11.6

REGISTERED NUMBER: 01401730 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 25 March 2014

for

Portland Apartments Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Statement of Total Recognised Gains and Losses

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

Mr M M Bhatia

Mr O Gulati

Mr M R Lamba

Mr F W D Thaxton

SECRETARY:

REGISTERED OFFICE:

38 Langham street

London

W1W 7AR

REGISTERED NUMBER:

01401730 (England and Wales)

ACCOUNTANTS:

Dawn & Co Ltd

Chartered Certified Accountants

38 Langham Street

London

W1W 7AR

The directors present their report with the financial statements of the company for the year ended 25 March 2014.

DIRECTORS

The directors shown below have held office during the whole of the period from 26 March 2013 to the date of this

report.

Mr M M Bhatia

Mr O Gulati

Mr M R Lamba

Mr F W D Thaxton

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Mr M R Lamba - Director

22 December 2014

TURNOVER

81,072

63,235

Administrative expenses

72,934

47,254

8,138

15,981

Other operating income

776

-

OPERATING PROFIT

2

8,914

15,981

Interest receivable and similar income

87

16

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

9,001

15,997

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

9,001

15,997

PROFIT FOR THE FINANCIAL YEAR

9,001

15,997

TOTAL RECOGNISED GAINS AND LOSSES
RELATING TO THE YEAR

9,001

15,997

Prior year adjustment

(22,111

)

TOTAL GAINS AND LOSSES RECOGNISED SINCE
LAST ANNUAL REPORT

(6,114

)

FIXED ASSETS

Tangible assets

5

1

CURRENT ASSETS

Debtors

6

11,380

Cash at bank

60,983

51,982

72,363

63,362

CREDITORS

Amounts falling due within one year

7

3,776

NET CURRENT ASSETS

68,587

59,586

TOTAL ASSETS LESS CURRENT
LIABILITIES

68,588

59,587

CAPITAL AND RESERVES

Called up share capital

8

450

Profit and loss account

9

68,138

59,137

SHAREHOLDERS' FUNDS

68,588

59,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 March 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 22 December 2014 and were signed on its behalf
by:

Mr M R Lamba - 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 April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

not provided

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

25.3.14

25.3.13

as restated

£

Auditors' remuneration

-

1,680

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 25 March 2014 nor for the year

ended 25 March 2013.

4.	PRIOR YEAR ADJUSTMENT

In last year's accounts a sum of £22111 was shown as Aerial rent being received on 25 March 2012.This was in

fact an error and was rectified on 26 March 2012.The adjustment in the accounts reflects this error.

5.	TANGIBLE FIXED ASSETS

Short

leasehold

£

COST

At 26 March 2013

and 25 March 2014

1

NET BOOK VALUE

At 25 March 2014

1

At 25 March 2013

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

25.3.14

25.3.13

as restated

£

Trade debtors

11,380

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

25.3.14

25.3.13

as restated

£

Trade creditors

(1

)

(1

)

Taxation and social security

(29

)

(29

)

Other creditors

3,806

3,776

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

25.3.14

25.3.13

value:

as restated

£

18

Ordinary

£25

450

9.

RESERVES

Profit

and loss

account

£

At 26 March 2013

59,137

Profit for the year

9,001

At 25 March 2014

68,138