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Registered Number: 11826923
England and Wales

 

 

 


Abridged Accounts

for the year ended 28 February 2024

for

AB PORTFOLIO LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investment property 3 270,000    216,365 
270,000    216,365 
Current assets      
Debtors 960    270 
Cash at bank and in hand 60    1,031 
1,020    1,301 
Creditors: amount falling due within one year (261,648)   (224,580)
Net current assets (260,628)   (223,279)
 
Total assets less current liabilities 9,372    (6,914)
Provisions for liabilities (4,945)  
Net assets 4,427    (6,914)
 

Capital and reserves
     
Called up share capital 4 1    1 
Revaluation reserve 5 21,083   
Profit and loss account (16,657)   (6,915)
Shareholders' funds 4,427    (6,914)
 


For the year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The director of the company has elected not to include the income Statement within the financial statements. 
The financial statements were approved by the director on 28 October 2024 and were signed by:


-------------------------------
M Miah
Director
1
General Information
AB Portfolio Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is Top Floor Flat, 26 St. Johns Road, Ryde, PO33 2RN. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 28 February each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Investment property

Cost Other investments other than loans   Total
  £   £
At 01 March 2023 216,365    216,365 
Additions 27,607    27,607 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 26,028    26,028 
At 28 February 2024 270,000    270,000 
Other investments comprise the investment property held by the company. The investment property was revalued as at the balance sheet date by the Director based on his knowledge and experience of the nature and class of asset.

4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

2