PORTLAND MOTORS (LONDON) LIMITED |
Registered Number:02279566 |
For the year ended 31 March 2023
England and Wales
For the year ended 31 March 2023
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
2022
2023
Property, plant and equipment |
1,369
1,669
2
1,369
1,669
272,450
279,600
3
Trade and other receivables |
26,622
40,499
4
75,739
Cash and cash equivalents |
121,347
441,446
374,811
Trade and other payables: amounts falling due within one |
year |
(16,655)
(15,151)
5
358,156
426,295
Net current assets
Total assets less current liabilities |
427,664
359,825
Trade and other payables: amounts falling due after more |
than one year |
(171,636)
(211,175)
6
216,489
Net assets
188,189
1,000
1,000
215,489
187,189
216,489
188,189
Shareholders' funds
For the year ended 31 March 2023 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 2023 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 applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 19 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
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 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: |
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. |
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For the year ended 31 March 2023
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 |
12,317
989
11,328
Charge for year
300
-
300
12,617
989
11,628
1,369
-
1,369
1,669
-
1,669
2022
2023
279,600
272,450
4. Trade and other receivables |
2022
2023
40,499
26,622
The debtors above include the following amounts falling due after more than one year: |
40,499
26,622
The Directors current has been cleared in the following period.
5. Trade and other payables: amounts falling due within one year |
2022
2023
(1)
-
Taxation and social security |
14,977
16,555
175
100
15,151
16,655
The directors overdrawn account has been cleared in the following period.
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For the year ended 31 March 2023
PORTLAND MOTORS (LONDON) LIMITED
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
211,175
171,636
7. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 2)
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