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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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Port Newton Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2022 |
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Port Newton Ltd |
Port Newton Ltd (Registered number: 11760000) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Port Newton Ltd |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
49 Church Road |
HOVE |
East Sussex |
BN3 2BE |
Port Newton Ltd (Registered number: 11760000) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Port Newton Ltd (Registered number: 11760000) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Port Newton Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2021 |
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Additions |
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Disposals | ( |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Port Newton Ltd (Registered number: 11760000) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Amounts owed to group undertakings |
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7. | POST BALANCE SHEET EVENTS |
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The director is closely monitoring the effect of the COVID-19 virus on the potential impact, risks and uncertainties on the future financial performance on the Company. The situation is evolving on a daily basis and as such the final impact is difficult to estimate given it will depend on the length and severity of the virus spread and dherence to governmental actions and regulatory bodies. At the current time the director believes the COVID-19 virus is not expected to have a significant financial impact on the Company in the medium to long term which will impact the Company to continue as a going concern. The situation is ongoing and continues to be monitored as a result. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company's immediate Parent is Jetnine 23 Limited a company incorporated in England and Wales. The company's ultimate Parent is Task Investment Co Limited registered in Guernsey. |
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9. | GOING CONCERN |
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The company has prepared the accounts on a going concern basis. It meets its financial obligations as they fall due through careful management of the available sources of finance and has a funding line from its UK parent company, Jetnine 23 Ltd. The parent has guaranteed to give support for the foreseeable future. |