REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2022 |
for |
Port Solent Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2022 |
for |
Port Solent Properties Limited |
Port Solent Properties Limited (Registered number: 06730022) |
Contents of the Financial Statements |
for the Year Ended 31st March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Port Solent Properties Limited |
Company Information |
for the Year Ended 31st March 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Gloucester House |
Church Walk |
Burgess Hill |
West Sussex |
RH15 9AS |
Port Solent Properties Limited (Registered number: 06730022) |
Balance Sheet |
31st March 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Port Solent Properties Limited (Registered number: 06730022) |
Balance Sheet - continued |
31st March 2022 |
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 and authorised for issue on |
Port Solent Properties Limited (Registered number: 06730022) |
Notes to the Financial Statements |
for the Year Ended 31st March 2022 |
1. | STATUTORY INFORMATION |
Port Solent Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Going concern |
The company is dependent on interest free finance from its parent company. The directors of the parent company have indicated that they will continue to finance the business until the land is sold, and as such the accounts have been prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
Port Solent Properties Limited (Registered number: 06730022) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2022 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1st April 2021 |
and 31st March 2022 |
NET BOOK VALUE |
At 31st March 2022 |
At 31st March 2021 |
The directors are of the opinion that the value of the freehold land has not materially altered since their last valuation. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Freehold Property | 900,000 | 900,000 |
The freehold land is secured by a fixed and floating charge over all the assets of this company in favour of Corporate Administration Management Ltd. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is considered to be M J Hunt by virtue of owning all the issued shares in the parent company, Corporate Administration Management Limited. |