Company Registration No. 13311363 (England and Wales)
Portalsoft Ltd
Unaudited accounts
for the year ended 30 April 2023
Portalsoft Ltd
Unaudited accounts
Contents
Portalsoft Ltd
Company Information
for the year ended 30 April 2023
Directors
BARDIA SEZAVAR BANDI
MOHAMMAD Reza SEZAVAR BANDI
Company Number
13311363 (England and Wales)
Registered Office
Flat 95
Gladwin Tower 50 Wandsworth Road
London
London
SW8 2FJ
England
Accountants
NOORY AND CO ACCOUNTANTS
22 Conduit Place
London
London
W2 1HS
Portalsoft Ltd
Statement of financial position
as at 30 April 2023
Intangible assets
300,915
128,787
Cash at bank and in hand
219
1,100
Creditors: amounts falling due within one year
(343,413)
(144,621)
Net current liabilities
(343,194)
(143,521)
Net liabilities
(38,479)
(14,734)
Called up share capital
100
100
Profit and loss account
(38,579)
(14,834)
Shareholders' funds
(38,479)
(14,734)
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by
BARDIA SEZAVAR BANDI
Director
Company Registration No. 13311363
Portalsoft Ltd
Notes to the Accounts
for the year ended 30 April 2023
Portalsoft Ltd is a private company, limited by shares, registered in England and Wales, registration number 13311363. The registered office is Flat 95, Gladwin Tower 50 Wandsworth Road, London, London, SW8 2FJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 April 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 May 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Reducing Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Portalsoft Ltd
Notes to the Accounts
for the year ended 30 April 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,200
1,600
Loans from directors
342,213
143,021
Portalsoft Ltd
Notes to the Accounts
for the year ended 30 April 2023
7
Average number of employees
During the year the average number of employees was 1 (2022: 0).