PORTSMOUTH & CAPITAL LIMITED
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Registered number: |
06227091
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Balance Sheet |
as at 30 April 2021
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Notes |
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2021 |
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2020 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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609,669 |
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609,669 |
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Current assets |
Debtors |
4 |
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2,254 |
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1,783 |
Cash at bank and in hand |
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5,206 |
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6,195 |
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7,460 |
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7,978 |
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Creditors: amounts falling due within one year |
5 |
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(4,280) |
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(7,423) |
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Net current assets |
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3,180 |
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555 |
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Total assets less current liabilities |
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612,849 |
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610,224 |
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Creditors: amounts falling due after more than one year |
6 |
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(351,218) |
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(351,218) |
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Net assets |
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261,631 |
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259,006 |
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Capital and reserves |
Called up share capital |
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3 |
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3 |
Revaluation reserve |
7 |
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162,575 |
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162,575 |
Profit and loss account |
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99,053 |
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96,428 |
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Shareholders' funds |
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261,631 |
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259,006 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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T M Doran |
Director |
Approved by the board on 21 January 2022
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PORTSMOUTH & CAPITAL LIMITED
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Notes to the Accounts |
for the year ended 30 April 2021
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover represents rents receivable. Rental is prepaid quarterly and any prepaid rental income is shown as deferred income in other creditors at the year end.
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Tangible fixed assets |
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No depreciation is provided in respect of freehold investment properties
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2021 |
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2020 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Land and buildings |
£ |
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Cost |
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At 1 May 2020 |
609,669 |
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At 30 April 2021 |
609,669 |
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Depreciation |
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At 30 April 2021 |
- |
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Net book value |
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At 30 April 2021 |
609,669 |
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At 30 April 2020 |
609,669 |
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In the opinion of the directors the market value of the investment property was equivalent to the net book value at 30 April 2021. |
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Freehold land and buildings: |
2021 |
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2020 |
£ |
£ |
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Historical cost |
447,094 |
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447,094 |
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Cumulative depreciation based on historical cost |
- |
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- |
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447,094 |
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447,094 |
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4 |
Debtors |
2021 |
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2020 |
£ |
£ |
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Other debtors |
2,254 |
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1,783 |
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5 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
£ |
£ |
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Taxation and social security costs |
3,204 |
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2,801 |
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Other creditors |
1,076 |
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4,622 |
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4,280 |
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7,423 |
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6 |
Creditors: amounts falling due after one year |
2021 |
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2020 |
£ |
£ |
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Other creditors |
351,218 |
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351,218 |
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7 |
Revaluation reserve |
2021 |
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2020 |
£ |
£ |
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At 1 May 2020 |
162,575 |
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162,575 |
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At 30 April 2021 |
162,575 |
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162,575 |
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8 |
Other information |
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PORTSMOUTH & CAPITAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Cheriton |
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Farnham Lane |
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Haslemere |
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Surrey |
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GU27 1HD |
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The company's business address is 64 Havant Road, Emsworth, Hampshire PO10 7LQ |