Portal Broking Group Limited 13943497 false 2022-02-28 2023-05-31 2023-05-31 The principal activity of the company is insurance company. Digita Accounts Production Advanced 6.30.9574.0 true 13943497 2022-02-28 2023-05-31 13943497 2023-05-31 13943497 core:RetainedEarningsAccumulatedLosses 2023-05-31 13943497 core:ShareCapital 2023-05-31 13943497 core:CurrentFinancialInstruments 2023-05-31 13943497 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13943497 core:FurnitureFittingsToolsEquipment 2023-05-31 13943497 bus:SmallEntities 2022-02-28 2023-05-31 13943497 bus:AuditExemptWithAccountantsReport 2022-02-28 2023-05-31 13943497 bus:FullAccounts 2022-02-28 2023-05-31 13943497 bus:SmallCompaniesRegimeForAccounts 2022-02-28 2023-05-31 13943497 bus:RegisteredOffice 2022-02-28 2023-05-31 13943497 bus:Director1 2022-02-28 2023-05-31 13943497 bus:Director2 2022-02-28 2023-05-31 13943497 bus:Director3 2022-02-28 2023-05-31 13943497 bus:PrivateLimitedCompanyLtd 2022-02-28 2023-05-31 13943497 core:ComputerEquipment 2022-02-28 2023-05-31 13943497 core:FurnitureFittingsToolsEquipment 2022-02-28 2023-05-31 13943497 countries:EnglandWales 2022-02-28 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 13943497

Portal Broking Group Limited

Unaudited Financial Statements

for the Period from 28 February 2022 to 31 May 2023

 

Portal Broking Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Portal Broking Group Limited

Company Information

Directors

Mr J Munnelly

Mrs J Munnelly

Mrs L Graham

Registered office

Ground Floor 1 Portal Business Park
Eaton Lane
Tarporley
Cheshire
CW6 9DL

Accountants

Alextra Group Limited
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

 

Portal Broking Group Limited

(Registration number: 13943497)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

2,251

Current assets

 

Debtors

5

70,350

Cash at bank and in hand

 

10,283

 

80,633

Creditors: Amounts falling due within one year

6

(655)

Net current assets

 

79,978

Total assets less current liabilities

 

82,229

Provisions for liabilities

(428)

Net assets

 

81,801

Capital and reserves

 

Called up share capital

100,100

Retained earnings

(18,299)

Shareholders' funds

 

81,801

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2023 and signed on its behalf by:
 

 

Portal Broking Group Limited

(Registration number: 13943497)
Balance Sheet as at 31 May 2023

.........................................
Mr J Munnelly
Director

 

Portal Broking Group Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor 1 Portal Business Park
Eaton Lane
Tarporley
Cheshire
CW6 9DL
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Portal Broking Group Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2022 to 31 May 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% on straight line basis

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Portal Broking Group Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2022 to 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

3,858

3,858

At 31 May 2023

3,858

3,858

Depreciation

Charge for the period

1,607

1,607

At 31 May 2023

1,607

1,607

Carrying amount

At 31 May 2023

2,251

2,251

5

Debtors

2023
£

Prepayments

69

Other debtors

70,281

70,350

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

55

Accruals and deferred income

600

655

 

Portal Broking Group Limited

Notes to the Unaudited Financial Statements for the Period from 28 February 2022 to 31 May 2023

7

Related party transactions

Other transactions with directors

During the year, advances were made to the directors in the sum of £90,895 and repayments were made in the sum of £27,805. At the year end, the directors owed the company the amount of £63,109 and this amount is included in other debtors. The loan was interest free and repayable on demand.