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Registered Number: 08645586
England and Wales

 

 

 

PORTER HEATING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Director Thomas Porter Porter
Registered Number 08645586
Registered Office Rosedale
Ashfield Road
Midhurst
GU29 9JX
Accountants OMW Accountancy Ltd
5 Monks Way
Swaythling
Southampton
Hampshire
SO18 2LR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2023.
Principal activities
The principal activity of the company during the financial year was that of providing plumbing services.
Director
The director who served the company throughout the year was as follows:
Thomas Porter Porter
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Thomas Porter Porter
Director

Date approved: 15 August 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
OMW Accountancy Ltd
31 March 2023



....................................................
OMW Accountancy Ltd
5 Monks Way
Swaythling
Southampton
Hampshire
SO18 2LR
15 August 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 4,305    5,686 
4,305    5,686 
Current assets      
Stocks 6 4,000    4,000 
Debtors 7 34,315    25,970 
Cash at bank and in hand (2,142)   (3,217)
36,173    26,753 
Creditors: amount falling due within one year 8 (24,365)   (23,760)
Net current assets 11,808    2,993 
 
Total assets less current liabilities 16,113    8,679 
Net assets 16,113    8,679 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 16,111    8,677 
Shareholder's funds 16,113    8,679 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 August 2023 and were signed by:


-------------------------------
Thomas Porter Porter
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2021 2  (990) (988)
Profit for the year 27,667  27,667 
Total comprehensive income for the year 27,667  27,667 
Dividends (18,000) (18,000)
Total investments by and distributions to owners (18,000) (18,000)
At 31 March 2022 2  8,677  8,679 
At 01 April 2022 2  8,677  8,679 
Profit for the year 25,434  25,434 
Total comprehensive income for the year 25,434  25,434 
Dividends (18,000) (18,000)
Total investments by and distributions to owners (18,000) (18,000)
At 31 March 2023 2  16,111  16,113 
5
General Information
Porter Heating Ltd is a private company, limited by shares, registered in England and Wales, registration number 08645586, registration address Rosedale, Ashfield Road, Midhurst, GU29 9JX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight-line basis over the estimated expected useful economic life of the goodwill of 3 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023   2022
 
Average number of employees during the year Number   Number
Sales 1    1 
 

3.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 11,000    11,000 
Additions  
Disposals  
At 31 March 2023 11,000    11,000 
Amortisation
At 01 April 2022 11,000    11,000 
Charge for year  
On disposals  
At 31 March 2023 11,000    11,000 
Net book values
At 31 March 2023  
At 31 March 2022  


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 2,850    12,735    3,949    19,534 
Additions      
Disposals      
At 31 March 2023 2,850    12,735    3,949    19,534 
Depreciation
At 01 April 2022 2,551    8,856    2,386    13,793 
Charge for year 75    970    391    1,436 
On disposals      
At 31 March 2023 2,626    9,826    2,777    15,229 
Net book values
Closing balance as at 31 March 2023 224    2,909    1,172    4,305 
Opening balance as at 01 April 2022 299    3,824    1,563    5,686 


6.

Stocks

2023
£
  2022
£
Stocks 4,000    4,000 
4,000    4,000 

7.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 10,852    6,430 
Other Debtors 3,450    2,970 
Directors' Current Accounts 14,002    16,570 
VAT 6,011   
34,315    25,970 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   5,285 
Bank Loans & Overdrafts 4,380    5,500 
Corporation Tax 18,629    12,056 
PAYE & Social Security 305    914 
Other Creditors 1,051   
VAT   5 
24,365    23,760 

6