Registration number:
Portfolio Fine Art Limited
for the Period from 11 January 2018 to 31 March 2019
77a Cheap Street
Sherborne
Dorset
DT9 3BA
Portfolio Fine Art Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Portfolio Fine Art Limited
Company Information
Director |
C J Smith |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Portfolio Fine Art Limited
for the Period Ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Portfolio Fine Art Limited for the period ended 31 March 2019 as set out on pages 3 to 4 from the company's accounting records and from information and explanations you have given us.
As a practising member 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Portfolio Fine Art Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Portfolio Fine Art Limited and state those matters that we have agreed to state to the Board of Portfolio Fine Art Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Portfolio Fine Art Limited and its Board as a body for our work or for this report.
It is your duty to ensure that Portfolio Fine Art Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Portfolio Fine Art Limited. You consider that Portfolio Fine Art Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Portfolio Fine Art 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.
Sherborne
Dorset
DT9 3BA
Page 2 |
Portfolio Fine Art Limited
(Registration number: 11143949)
Balance Sheet as at 31 March 2019
2019 |
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Fixed assets |
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Current assets |
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Creditors: Amounts falling due within one year |
( |
Net current liabilities |
( |
Total assets less current liabilities |
( |
Accruals and deferred income |
( |
( |
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Capital and reserves |
( |
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Unit 18 Old Yarn Mills
Westbury
Sherborne
Dorset
DT9 3RQ
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Going Concern
At 31 March 2019 the company is insolvent and reliant on the continued support of its director and creditors. The director will support the company through its cashflow difficulties and ensure that it meets its day to day liabilities and is able to continue to trade. If the company were not able to meet its liabilities then fixed assets would have to be reclassified as current assets.
These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
For the financial period ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Page 3 |
Portfolio Fine Art Limited
(Registration number: 11143949)
Balance Sheet as at 31 March 2019 (continued)
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
Page 4 |