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REGISTERED NUMBER: 01577650 (England and Wales)














Financial Statements

for the Period 1 January 2022 to 31 March 2023

for

Port Sutton Bridge Limited

Port Sutton Bridge Limited (Registered number: 01577650)

Contents of the Financial Statements
for the Period 1 January 2022 to 31 March 2023










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3 to 5


Port Sutton Bridge Limited

Company Information
for the Period 1 January 2022 to 31 March 2023







Director: N Bowers





Registered office: West Bank
Sutton Bridge
Spalding
Lincolnshire
PE12 9QR





Business address: Lodge Farm
Knights End Road
Floods Ferry
March
Cambridgeshire
PE15 0YN





Registered number: 01577650 (England and Wales)





Auditors: Moore Thompson
27 Market Place
Market Deeping
Peterborough
Cambs
PE6 8EA

Port Sutton Bridge Limited (Registered number: 01577650)

Statement of Financial Position
31 March 2023

2023 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 5 8,372,663 2,305,152
Investments 6 431 431
8,373,094 2,305,583

Current assets
Stocks - 10,868
Debtors 7 241,919 704,075
Cash at bank 58,880 599
300,799 715,542
Creditors
Amounts falling due within one year 8 362,781 1,519,032
Net current liabilities (61,982 ) (803,490 )
Total assets less current liabilities 8,311,112 1,502,093

Provisions for liabilities 2,038,056 -
Net assets 6,273,056 1,502,093

Capital and reserves
Called up share capital 9 1,796,850 526,850
Revaluation reserve 10 4,627,577 -
Capital redemption reserve 66,550 66,550
Retained earnings (217,921 ) 908,693
Shareholders' funds 6,273,056 1,502,093

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 director and authorised for issue on 19 October 2023 and were signed by:





N Bowers - Director


Port Sutton Bridge Limited (Registered number: 01577650)

Notes to the Financial Statements
for the Period 1 January 2022 to 31 March 2023


1. Statutory information

Port Sutton Bridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Port Sutton Bridge Limited (Registered number: 01577650)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023


3. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. Employees and directors

The average number of employees during the period was 12 (2021 - 15 ) .

5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost or valuation
At 1 January 2022 2,905,910 3,473,050 6,378,960
Additions - 60,670 60,670
Disposals (1,789 ) (1,627,242 ) (1,629,031 )
Revaluations 6,170,102 - 6,170,102
At 31 March 2023 9,074,223 1,906,478 10,980,701
Depreciation
At 1 January 2022 767,408 3,306,400 4,073,808
Charge for period 107,218 51,776 158,994
Eliminated on disposal (403 ) (1,624,361 ) (1,624,764 )
At 31 March 2023 874,223 1,733,815 2,608,038
Net book value
At 31 March 2023 8,200,000 172,663 8,372,663
At 31 December 2021 2,138,502 166,650 2,305,152

Freehold land and buildings have been revalued on an open market basis on 28 June 2022 by Gerald Eve LLP at £8,200,000. If these had not been revalued, the land and buildings would have been included at the historical cost of £2,904.121.

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2022
and 31 March 2023 431
Net book value
At 31 March 2023 431
At 31 December 2021 431

Port Sutton Bridge Limited (Registered number: 01577650)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 31 March 2023


7. Debtors: amounts falling due within one year
2023 2021
£    £   
Trade debtors 45,799 65,030
Amounts owed by group undertakings 113,269 189,126
Other debtors 82,851 449,919
241,919 704,075

8. Creditors: amounts falling due within one year
2023 2021
£    £   
Trade creditors 274,057 114,788
Amounts owed to group undertakings 81,176 -
Taxation and social security - 18,646
Other creditors 7,548 1,385,598
362,781 1,519,032

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
1,796,850 Ordinary £1 1,796,850 526,850

10. Reserves
Revaluation
reserve
£   
Revaluation reserve 4,627,577

At 31 March 2023 4,627,577

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Mark Hildred (Senior Statutory Auditor)
for and on behalf of Moore Thompson

12. Related party disclosures

As at 31 March 2023 there was an amount owed by a group company totaling £113,269. There was also an amount owed to another group company totaling £81,176. These loans are interest free and repayable on demand.