Portal Technologies Ltd - Accounts to registrar (filleted) - small 18.1

Portal Technologies Ltd - Accounts to registrar (filleted) - small 18.1


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Unaudited Financial Statements for the Year Ended 31 March 2018

for

Portal Technologies Ltd

Portal Technologies Ltd (Registered number: SC417377)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Portal Technologies Ltd

Company Information
for the Year Ended 31 March 2018







DIRECTORS: Miss E S Adamson
C J Millar





REGISTERED OFFICE: Suite 20
Glenbervie Business Centre
Ramoyle House
Larbert
FK5 4RB





REGISTERED NUMBER: SC417377 (Scotland)





ACCOUNTANTS: Ian Macfarlane & Co.
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Portal Technologies Ltd (Registered number: SC417377)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £   
CURRENT ASSETS
Debtors 5 83,566 59,912
Cash at bank 35,777 77,992
119,343 137,904
CREDITORS
Amounts falling due within one year 6 89,084 81,115
NET CURRENT ASSETS 30,259 56,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,259

56,789

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 30,159 56,689
SHAREHOLDERS' FUNDS 30,259 56,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 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 Board of Directors on 22 June 2018 and were signed on its behalf by:





C J Millar - Director


Portal Technologies Ltd (Registered number: SC417377)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Portal Technologies Ltd is a private company, limited by shares , registered in Scotland. 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.

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 - 33% on cost

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 8 (2017 - 8 ) .

Portal Technologies Ltd (Registered number: SC417377)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017
and 31 March 2018 1,775
DEPRECIATION
At 1 April 2017
and 31 March 2018 1,775
NET BOOK VALUE
At 31 March 2018 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 81,395 57,741
Other debtors 2,171 2,171
83,566 59,912

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts - 5,769
Trade creditors 33,189 13,811
Taxation and social security 35,950 42,685
Other creditors 19,945 18,850
89,084 81,115