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REGISTERED NUMBER: SC724042 (Scotland)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 22 FEBRUARY 2022 TO 28 FEBRUARY 2023

FOR

PORTNELLAN ESTATE LTD

PORTNELLAN ESTATE LTD (REGISTERED NUMBER: SC724042)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2022 TO 28 FEBRUARY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PORTNELLAN ESTATE LTD

COMPANY INFORMATION
FOR THE PERIOD 22 FEBRUARY 2022 TO 28 FEBRUARY 2023







DIRECTORS: Mrs R N Martyna
Mr S Munroe



REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG



REGISTERED NUMBER: SC724042 (Scotland)



BANKERS: Starling Bank
7th Floor
Norfolk House
31 St James's Square
London
SW1Y 4JR

PORTNELLAN ESTATE LTD (REGISTERED NUMBER: SC724042)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 34,755

CURRENT ASSETS
Debtors 24,399
Cash at bank 129
24,528
CREDITORS
Amounts falling due within one year 63,261
NET CURRENT LIABILITIES (38,733 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,978

)

CREDITORS
Amounts falling due after more than one
year

11,083
NET LIABILITIES (15,061 )

CAPITAL AND RESERVES
Called up share capital 5 100
Retained earnings (15,161 )
SHAREHOLDERS' FUNDS (15,061 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 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.

PORTNELLAN ESTATE LTD (REGISTERED NUMBER: SC724042)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





Mr S Munroe - Director


PORTNELLAN ESTATE LTD (REGISTERED NUMBER: SC724042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2022 TO 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Portnellan Estate 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis the directors having agreed to continue to support the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 44,034
At 28 February 2023 44,034
DEPRECIATION
Charge for period 9,279
At 28 February 2023 9,279
NET BOOK VALUE
At 28 February 2023 34,755

The net book value of tangible fixed assets includes £14,000 in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £3,500 for the financial year.

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
50 Ordinary A £1 50
50 Ordinary B £1 50
100

PORTNELLAN ESTATE LTD (REGISTERED NUMBER: SC724042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22 FEBRUARY 2022 TO 28 FEBRUARY 2023

5. CALLED UP SHARE CAPITAL - continued

The following shares were issued during the period for cash at par :

50 Ordinary A shares of £1
50 Ordinary B shares of £1

6. RELATED PARTY DISCLOSURES

Turnpoint Consulting Ltd:
During the financial period the company made payments of £12,645 on behalf of Turnpoint Consulting Ltd. As at 28 February 2023 the company was owed £12,645 from Turnpoint Consulting Ltd.

Sheldon Hotel Ltd:
During the financial period the company made payments of £3,000 on behalf of Sheldon Hotel Ltd. As at 28 February 2023 the company was owed £3,000 from Sheldon Hotel Ltd.