0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 151,546 11,727 30,896 44,985 87,392 87,392 151,546 xbrli:pure xbrli:shares iso4217:GBP 10077804 2023-04-01 2024-03-31 10077804 2024-03-31 10077804 2023-03-31 10077804 2022-04-01 2023-03-31 10077804 2023-03-31 10077804 2022-03-31 10077804 bus:Director1 2023-04-01 2024-03-31 10077804 core:WithinOneYear 2024-03-31 10077804 core:WithinOneYear 2023-03-31 10077804 core:ShareCapital 2024-03-31 10077804 core:ShareCapital 2023-03-31 10077804 core:RetainedEarningsAccumulatedLosses 2024-03-31 10077804 core:RetainedEarningsAccumulatedLosses 2023-03-31 10077804 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 10077804 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 10077804 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 10077804 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 10077804 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 10077804 core:Non-currentFinancialInstruments 2024-03-31 10077804 core:Non-currentFinancialInstruments 2023-03-31 10077804 bus:SmallEntities 2023-04-01 2024-03-31 10077804 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10077804 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10077804 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10077804 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10077804
8th Port Limited
Filleted Unaudited Financial Statements
31 March 2024
8th Port Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
87,392
151,546
Current assets
Cash at bank and in hand
7,184
69,365
Creditors: amounts falling due within one year
5
( 35,280)
( 108,550)
--------
---------
Net current liabilities
( 28,096)
( 39,185)
--------
---------
Total assets less current liabilities
59,296
112,361
--------
---------
Net assets
59,296
112,361
--------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
59,294
112,359
--------
---------
Shareholders funds
59,296
112,361
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr R O'Rahilly
Director
Company registration number: 10077804
8th Port Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis, not withstanding the net current liabilities, as the shareholder has expressed their willingness to support the company for the foreseeable future.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Investments
Other investments other than loans
£
Cost
At 1 April 2023
151,546
Additions
11,727
Disposals
( 30,896)
Revaluations
( 44,985)
---------
At 31 March 2024
87,392
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
87,392
---------
At 31 March 2023
151,546
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,235
Corporation tax
33,241
Other creditors
33,045
75,309
--------
---------
35,280
108,550
--------
---------