REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
B PORTWOOD AND COMPANY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
B PORTWOOD AND COMPANY LIMITED |
B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468) |
Contents of the Financial Statements |
for the year ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
B PORTWOOD AND COMPANY LIMITED |
Company Information |
for the year ended 31 December 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Kensington House |
3 Kensington |
Bishop Auckland |
Co. Durham |
DL14 6HX |
B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468) |
Balance Sheet |
31 December 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468) |
Notes to the Financial Statements |
for the year ended 31 December 2021 |
1. | STATUTORY INFORMATION |
B Portwood and Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents commission receivable from insurance companies in respect of insurance brokerage credit for commission is taken when the right to consideration arises in exchange for its performances. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
and 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fixed asset investments are stated at cost less provision for impairment. For listed investments, market value is based on the closing middle markets price. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
Prepayments |
B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 4,328 | 3,157 |
Accrued expenses |
8. | RELATED PARTY DISCLOSURES |
The company carries out part of their trade from premises owned personally by Mrs J Portwood & Mr J B Portwood during the year ended 2021 no charge was made (£Nil 2020). |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is J B Portwood. |
The company was under the control of the Portwood family throughout the current and previous year. Collectively they hold 83.3% (2020 83.3%) of the company's issued share capital. |