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Company Registration No. 13311363 (England and Wales)
Portalsoft Ltd Unaudited accounts for the year ended 30 April 2023
Portalsoft Ltd Unaudited accounts Contents
Page
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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
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Portalsoft Ltd Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
300,915 
128,787 
Tangible assets
3,800 
- 
304,715 
128,787 
Current assets
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)
Capital and reserves
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
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Portalsoft Ltd Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Foreign exchange
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.
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Portalsoft Ltd Notes to the Accounts for the year ended 30 April 2023
Deferred taxation
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2022
128,787 
Additions
172,128 
At 30 April 2023
300,915 
Amortisation
At 1 May 2022
- 
At 30 April 2023
- 
Net book value
At 30 April 2023
300,915 
At 30 April 2022
128,787 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 May 2022
- 
Additions
4,000 
At 30 April 2023
4,000 
Depreciation
Charge for the year
200 
At 30 April 2023
200 
Net book value
At 30 April 2023
3,800 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,200 
1,600 
Loans from directors
342,213 
143,021 
343,413 
144,621 
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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).
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