PORTLAND MOTORS (LONDON) LIMITED
|
For the year ended 31 March 2016
Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02279566
PORTLAND MOTORS (LONDON) LIMITED
For the year ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
PORTLAND MOTORS (LONDON) LIMITED
Chartered Accountants' Report
For the year ended 31 March 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of PORTLAND MOTORS
(
LONDON
)
LIMITED for the year ended
31
March
2016
which comprise the
|
Profit and Loss Account
,
the Balance Sheet and the related notes from the company
'
s accounting records and from
|
information and explanations you have given us
.
|
As a practising firm of the Institute of Chartered Accountants in England and Wales
(
ICAEW
)
,
we are subject to its
|
ethical and other professional requirements which are detailed at icaew
.
com
/
membershandbook
.
|
This report is made solely to the Board of Directors of PORTLAND MOTORS
(
LONDON
)
LIMITED
,
as a body
,
in
|
accordance with the terms of our engagement letter dated
17
December
2012
.
Our work has been undertaken
|
solely to prepare for your approval the accounts of PORTLAND MOTORS
(
LONDON
)
LIMITED and state those
|
matters that we have agreed to state to the Board of Directors of PORTLAND MOTORS
(
LONDON
)
LIMITED
,
as a
|
body
,
in this report in accordance with AAF
2
/
10
as detailed at icaew
.
com
/
compilation
.
To the fullest extent
|
permitted by law
,
we do not accept or assume responsibility to anyone other than PORTLAND MOTORS
|
(
LONDON
)
LIMITED and its Board of Directors as a body for our work or for this report
.
|
It is your duty to ensure that PORTLAND MOTORS
(
LONDON
)
LIMITED has kept adequate accounting records to
|
prepare statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of
|
PORTLAND MOTORS
(
LONDON
)
LIMITED
.
You consider that PORTLAND MOTORS
(
LONDON
)
LIMITED is
|
exempt from the statutory audit requirement for the year
.
|
We have not been instructed to carry out an audit or a review of the accounts of PORTLAND MOTORS
(
LONDON
)
|
LIMITED
.
For this reason
,
we have not verified the accuracy or completeness of the accounting records or
|
information and explanations you have given to us and we do not
,
therefore
,
express any opinion on the statutory
|
accounts
.
|
42 KATHLEEN AVENUE
WEMBLEY
MIDDLESEX
HA0 4JH
1 of 4
Abbreviated Balance Sheet
|
PORTLAND MOTORS (LONDON) LIMITED
2016
2015
2
5,639
62
5,639
62
140,250
120,850
3
49,633
58,348
86,273
76,755
265,471
266,638
Creditors
:
amounts falling due within one year
|
(6,523)
(3,412)
260,115
262,059
Net current assets
Total assets less current liabilities
|
267,698
260,177
Creditors
:
amounts falling due after more than one year
|
(126,586)
(126,536)
141,162
Net assets
133,591
1,000
4
1,000
140,162
132,591
141,162
133,591
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director 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 Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 19 December 2016
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
PORTLAND MOTORS (LONDON) LIMITED
For the year ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
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:
|
Motor Vehicles
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
6,989
6,997
13,986
6,927
1,420
Charge for year
8,347
5,639
62
3 of 4
Notes to the Abbreviated Financial Statements
|
PORTLAND MOTORS (LONDON) LIMITED
For the year ended 31 March 2016
Debtors include an amount of £
50928
(
2015
:
£
48280
)
falling due after more than one year
|
The other debtors relate to the associated company.
Allotted called up and fully paid
|
2016
2015
1
,
000
ordinary shares of £
1
.
00
each
|
1,000
1,000
1,000
1,000
4 of 4