2023-03-01 04667971 2024-02-29 04667971 2023-03-01 2024-02-29 04667971 2023-02-28 04667971 2022-03-01 2023-02-28 04667971 uk-core:WithinOneYear 2023-02-28 04667971 uk-core:WithinOneYear 2024-02-29 04667971 uk-core:AfterOneYear 2023-02-28 04667971 uk-core:AfterOneYear 2024-02-29 04667971 uk-core:ShareCapital 2024-02-29 04667971 uk-core:ShareCapital 2023-02-28 04667971 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 04667971 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 04667971 uk-bus:Director1 2023-03-01 2024-02-29 04667971 uk-core:PlantMachinery 2023-03-01 2024-02-29 04667971 uk-core:ToolsEquipment 2023-03-01 2024-02-29 04667971 uk-core:FurnitureFittings 2023-03-01 2024-02-29 04667971 uk-core:ToolsEquipment 2023-02-28 04667971 uk-core:FurnitureFittings 2023-02-28 04667971 uk-core:Buildings 2023-02-28 04667971 uk-core:Buildings 2024-02-29 04667971 uk-core:FurnitureFittings 2024-02-29 04667971 uk-core:ToolsEquipment 2024-02-29 04667971 uk-core:Buildings 2023-03-01 2024-02-29 04667971 uk-core:AfterOneYear uk-core:Secured 2024-02-29 04667971 uk-core:AfterOneYear uk-core:Secured 2023-02-28 iso4217:GBP xbrli:pure 04667971 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04667971 uk-bus:FRS102 2023-03-01 2024-02-29 04667971 uk-bus:FilletedAccounts 2023-03-01 2024-02-29 04667971 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
PORTLAND ASSOCIATES ( UK ) LTD
Registered Number:04667971
For the year ended 29 February 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 29 February 2024
PORTLAND ASSOCIATES ( UK ) LTD
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
04667971
As at 29 February 2024
PORTLAND ASSOCIATES ( UK ) LTD
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
281,499
281,553
2
281,499
281,553
Current assets
Trade and other receivables
270,870
275,765
3
7,775
Cash and cash equivalents
9,056
284,821
278,645
Trade and other payables: amounts falling due within one
year
(200,303)
(206,000)
4
78,342
78,821
Net current assets
Total assets less current liabilities
360,320
359,895
Trade and other payables: amounts falling due after more
than one year
(372,673)
(372,819)
5
(12,499)
Net liabilities
(12,778)
Capital and reserves
Called up share capital
100
100
Retained earnings
(12,599)
(12,878)
(12,499)
(12,778)
Shareholders' funds
For the year ended 29 February 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 of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Nimita Sohal Director
These financial statements were approved and authorised for issue by the Board on 22 November 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 29 February 2024
PORTLAND ASSOCIATES ( UK ) LTD
Notes to the Financial Statements
Statutory Information
PORTLAND ASSOCIATES ( UK ) LTD is a private limited company, limited by shares, domiciled in England and
Wales, registration number 04667971.
Principal place of business:
53 Tomswood Road
Chigwell
Essex
IG7 5QR
Registered address:
Unit 9, 97/101 Peregrine Road
Hainault Business Park
Essex
IG6 3XH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
20% Reducing balance
Computer equipment
20% Reducing balance
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 29 February 2024
PORTLAND ASSOCIATES ( UK ) LTD
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 March 2023
294,764
1,382
382
293,000
At 29 February 2024
293,000
382
1,382
294,764
Provision for depreciation and impairment
At 01 March 2023
13,211
1,169
323
11,719
Charge for year
54
42
12
-
At 29 February 2024
13,265
1,211
335
11,719
At 29 February 2024
Net book value
281,281
47
171
281,499
At 28 February 2023
281,281
59
213
281,553
3. Trade and other receivables
2023
2024
£
£
Other debtors
275,765
270,870
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
3,925
960
Other creditors
202,075
199,343
206,000
200,303
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
11,102
12,681
Bank loans and overdraft (secured)
361,717
359,992
372,819
372,673
6. Average number of persons employed
During the year the average number of employees was 1
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