Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31truetrue22022-02-01falseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07913371 2022-02-01 2023-01-31 07913371 2021-02-01 2022-01-31 07913371 2023-01-31 07913371 2022-01-31 07913371 c:Director1 2022-02-01 2023-01-31 07913371 d:FurnitureFittings 2022-02-01 2023-01-31 07913371 d:FurnitureFittings 2023-01-31 07913371 d:FurnitureFittings 2022-01-31 07913371 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07913371 d:CurrentFinancialInstruments 2023-01-31 07913371 d:CurrentFinancialInstruments 2022-01-31 07913371 c:FRS102 2022-02-01 2023-01-31 07913371 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 07913371 c:FullAccounts 2022-02-01 2023-01-31 07913371 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07913371 2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 07913371









PORTFOLIO MARKETING COMMUNICATIONS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
REGISTERED NUMBER: 07913371

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
£
£

  

Fixed assets
  

Tangible assets
 4 
445
239

  
445
239

Current assets
  

Debtors: amounts falling due within one year
 5 
24,806
60,858

Cash at bank and in hand
 6 
62,078
73,743

  
86,884
134,601

Creditors: amounts falling due within one year
 7 
(23,850)
(48,930)

Net current assets
  
 
 
63,034
 
 
85,671

  

Net assets
  
63,479
85,910


Capital and reserves
  

Called up share capital 
  
102
102

Profit and loss account
  
63,377
85,808

  
63,479
85,910

Page 1

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
REGISTERED NUMBER: 07913371
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R A Bryan
Director

Date: 31 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Portfolio Marketing Communications Limited is a private company limited by shares. The company was incorporated in England & Wales. The registered office is Aston House, Cornwall Avenue, London, N3 1LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Dividends are recognised when they become legally payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 February 2022
3,210


Additions
354



At 31 January 2023

3,564



Depreciation


At 1 February 2022
2,971


Charge for the year on owned assets
148



At 31 January 2023

3,119



Net book value



At 31 January 2023
445



At 31 January 2022
239

Page 5

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
24,806
10,126

Other debtors
-
50,732

24,806
60,858



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
62,078
73,744



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
11,506
29,267

Other taxation and social security
7,898
16,888

Other creditors
446
-

Accruals and deferred income
4,000
2,775

23,850
48,930



8.


Transactions with directors

At the balance sheet date, an amount of £446 was due to the directors (2022: £50,732 due from). This loan was unsecured, interest free and was repaid shortly after the year end.

 
Page 6