PORTLAND MOTORS (LONDON) LIMITED
|
Registered Number
:
02279566
|
For the year ended 31 March 2017
England and Wales
For the year ended 31 March 2017
PORTLAND MOTORS (LONDON) LIMITED
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
PORTLAND MOTORS (LONDON) LIMITED
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
4,511
5,639
2
4,511
5,639
120,850
127,000
Trade and other receivables
|
58,348
38,145
3
86,273
Cash and cash equivalents
|
97,350
262,495
265,471
Trade and other payables
:
amounts falling due within one
|
year
|
(3,412)
(688)
4
262,059
261,807
Net current assets
Total assets less current liabilities
|
266,318
267,698
Trade and other payables
:
amounts falling due after more
|
than one year
|
(126,536)
(124,536)
5
141,782
Net assets
141,162
1,000
1,000
140,782
140,162
141,782
141,162
Shareholders' funds
For the year ended 31 March 2017 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 31 March 2017 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.
|
These financial statements were approved and authorised for issue by the Board on 27 December 2017 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 March 2017
PORTLAND MOTORS (LONDON) LIMITED
Notes to the Financial Statements
Statutory Information
PORTLAND MOTORS
(
LONDON
)
LIMITED is a private limited company
,
limited by shares
,
domiciled in England and
|
Wales
,
registration number
02279566
.
|
Principal place of business
:
|
23-25 Silchester Road
London
W10 6SE
178 SPRING GROVE ROAD
ISLEWORTH
MIDDX.
TW7 4BG.
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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:
|
Motor vehicles
Fixtures and fittings
Inventories
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.
|
2 of 4
For the year ended 31 March 2017
PORTLAND MOTORS (LONDON) LIMITED
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Motor vehicles
13,986
989
12,997
12,997
989
13,986
Provision for depreciation and impairment
|
8,347
974
7,373
Charge for year
1,128
3
1,125
9,475
977
8,498
4,499
12
4,511
5,624
15
5,639
3
.
Trade and other receivables
|
2016
2017
2,140
1,495
36,005
56,853
58,348
38,145
The debtors above include the following amounts falling due after more than one year
:
|
34,826
50,928
The other debtors relate to the associated company.
4
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
457
929
Taxation and social security
|
231
2,483
688
3,412
5
.
Trade and other payables
:
amounts falling due after more than one year
|
2016
2017
124,536
126,536
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For the year ended 31 March 2017
PORTLAND MOTORS (LONDON) LIMITED
Notes to the Financial Statements Continued
6
.
Related party transactions
|
During the two years ending
31
March
2016
,
Mr
.
N K Jagtiani and Mrs A Jagtiani
|
controlled the company by virtue of controlling interest of
100
%
of the issued share capital
.
|
The company was under the control of Mr N
.
K
.
Jagtiani throughout the current and previous
|
year
.
Mr
.
N K Jagtiani is the managing director and majoirty shareholder
.
|
No transactions with related parties were undertaken such as are required to be disclosed under
|
Financial Reporting Standard
8
.
|
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