PORTACOVER MACHINERY MOVEMENTS LIMITED

Company Registration Number:
01436641 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

PORTACOVER MACHINERY MOVEMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Additional notes
Balance sheet notes

PORTACOVER MACHINERY MOVEMENTS LIMITED

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,188,527 1,223,177
Total fixed assets: 1,188,527 1,223,177
Current assets
Stocks: 4 1,000 1,000
Debtors: 5 296,872 432,015
Cash at bank and in hand: 446,409 491,621
Total current assets: 744,281 924,636
Creditors: amounts falling due within one year: 6 ( 330,245 ) ( 335,777 )
Net current assets (liabilities): 414,036 588,859
Total assets less current liabilities: 1,602,563 1,812,036
Creditors: amounts falling due after more than one year: 7 ( 273,272 ) ( 381,695 )
Provision for liabilities: ( 213,557 ) ( 217,211 )
Total net assets (liabilities): 1,115,734 1,213,130
Capital and reserves
Called up share capital: 1,402 1,402
Other reserves: 700 700
Profit and loss account: 1,113,632 1,211,028
Total Shareholders' funds: 1,115,734 1,213,130

The notes form part of these financial statements

PORTACOVER MACHINERY MOVEMENTS LIMITED

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 21 November 2023
and signed on behalf of the board by:

Name: S Watson
Status: Director

The notes form part of these financial statements

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provisionof 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.

    Tangible fixed assets depreciation policy

    DepreciationDepreciation is charged so as to write off the cost of assets, other than land and properties under constructionover their estimated useful lives, as follows:Asset class Depreciation method and ratePlant and machinery 10% reducing balanceFixtures and fittings 33.3% reducing balanceMotor vehicles 20% reducing balanceLeasehold Improvements 2% reducing balance

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 12 12

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 1,457,792 104,243 174,689 1,736,724
Additions 109,839 9,610 119,449
Disposals ( 13,429 ) ( 13,429 )
Revaluations
Transfers
At 28 February 2023 1,567,631 100,424 174,689 1,842,744
Depreciation
At 1 March 2022 417,443 10,719 85,385 513,547
Charge for year 104,035 3,942 32,693 140,670
On disposals
Other adjustments
At 28 February 2023 521,478 14,661 118,078 654,217
Net book value
At 28 February 2023 1,046,153 85,763 56,611 1,188,527
At 28 February 2022 1,040,349 93,524 89,304 1,223,177

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Stocks

2023 2022
£ £
Stocks 1,000 1,000
Total 1,000 1,000

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Debtors

2023 2022
£ £
Trade debtors 234,312 279,730
Prepayments and accrued income 62,560 44,704
Other debtors 107,581
Total 296,872 432,015

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 157,627 150,014
Trade creditors 82,173 62,960
Taxation and social security 86,513 112,947
Accruals and deferred income 2,602 2,713
Other creditors 1,330 7,143
Total 330,245 335,777

PORTACOVER MACHINERY MOVEMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 273,272 381,695
Total 273,272 381,695