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Financial Statements For The Year Ended 31 December 2016 |
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Portus Ltd |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 31 December 2016 |
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for |
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Portus Ltd |
Portus Ltd (Registered number: 05842229) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Portus Ltd |
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Company Information |
For The Year Ended 31 December 2016 |
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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 Accountants |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Portus Ltd (Registered number: 05842229) |
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Abridged Statement of Financial Position |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 on
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Portus Ltd (Registered number: 05842229) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Portus Ltd is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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In accordance with his responsibilities as a director, the director has considered the appropriateness of the |
historical cost convention.The company meets its working capital requirements through loans provided by the |
director. The director has confirmed that these facilities will remain available for the foreseeable future and it is |
on this basis that the historical cost basis is considered appropriate for the preparation of 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 statement of financial position date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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Investments |
Unlisted investments are measured at cost less impairment as fair value cannot be reliably measured without |
undue cost or effort. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Portus Ltd (Registered number: 05842229) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2016 |
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4. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 | 38,414 |
NET BOOK VALUE |
At 31 December 2016 | 38,414 |
At 31 December 2015 | 38,414 |
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5. | RELATED PARTY DISCLOSURES |
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G Rapisarda |
The director of the company. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 1,298,596 | 1,298,596 |
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Katana Technologies S.r.l. |
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A subsidiary of the company. |
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2016 | 2015 |
£ | £ |
Amounts written off during the year | (1,020 | ) | 5,479 |
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Visilase GmbH |
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A subsidiary of the group. |
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2016 | 2015 |
£ | £ |
Amount due from related party at the balance sheet date | 1,173,750 | 1,173,750 |
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6. | ULTIMATE CONTROLLING PARTY |
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By virtue of his shareholding, the director, G Rapisarda is the ultimate controlling party. |
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7. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 section 1A for the year ended 31 December 2016. There were no |
restatements required to comparative figures. |
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