Company Registration No. 04395503 (England and Wales)
Portus Private Equity Limited
Unaudited accounts
for the year ended 31 March 2024
Portus Private Equity Limited
Unaudited accounts
Contents
Portus Private Equity Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
1,860
5,584
Creditors: amounts falling due within one year
(29,041)
(23,280)
Net current liabilities
(26,885)
(16,963)
Net liabilities
(26,885)
(16,963)
Called up share capital
1
1
Profit and loss account
(26,886)
(16,964)
Shareholders' funds
(26,885)
(16,963)
For the year ending 31 March 2024 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 29 October 2024 and were signed on its behalf by
A L Thesen
Director
Company Registration No. 04395503
Portus Private Equity Limited
Notes to the Accounts
for the year ended 31 March 2024
Portus Private Equity Limited is a private company, limited by shares, registered in England and Wales, registration number 04395503. The registered office is 8 Ashgrove Road, Redland, Bristol, BS6 6LY.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them
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.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
5
Average number of employees
During the year the average number of employees was 3 (2023: 3).