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REGISTERED NUMBER: 00785468 (England and Wales)


































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: J B Portwood
Mrs J Portwood





SECRETARY: Mrs J Portwood





REGISTERED OFFICE: 44 Medomsley Road
Consett
Co. Durham
DH8 5HA





REGISTERED NUMBER: 00785468 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
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 3,374 4,186
Investments 5 3,465 3,465
6,839 7,651

CURRENT ASSETS
Debtors 6 24,758 20,665
Cash at bank and in hand 83,776 94,248
108,534 114,913
CREDITORS
Amounts falling due within one year 7 30,451 31,950
NET CURRENT ASSETS 78,083 82,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,922

90,614

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 83,422 89,114
SHAREHOLDERS' FUNDS 84,922 90,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 10 August 2022 and were signed on its behalf by:



J B Portwood - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 15% on reducing balance

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 13 (2020 - 14 ) .

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 48,896 138,230 187,126
DEPRECIATION
At 1 January 2021 48,203 134,737 182,940
Charge for year 204 608 812
At 31 December 2021 48,407 135,345 183,752
NET BOOK VALUE
At 31 December 2021 489 2,885 3,374
At 31 December 2020 693 3,493 4,186

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021
and 31 December 2021 3,465
NET BOOK VALUE
At 31 December 2021 3,465
At 31 December 2020 3,465

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 20,946 18,583
Other debtors - 338
Tax 1,152 -
Prepayments 2,660 1,744
24,758 20,665

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 23,586 25,912
Tax - 1,381
Social security and other taxes 1,037 -
Directors' current accounts 4,328 3,157
Accrued expenses 1,500 1,500
30,451 31,950

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.