Registered number
09757274
Pors Properties Limited
Filleted Accounts
For the year ended 30 September 2023
ASVSH Accountancy Services Limited
Chartered Certified Accountants
Pors Properties Limited
Registered number: 09757274
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 745,412 655,869
Current assets
Cash at bank and in hand 4,873 17,052
Creditors: amounts falling due within one year 4 (488,728) (210,420)
Net current liabilities (483,855) (193,368)
Total assets less current liabilities 261,557 462,501
Creditors: amounts falling due after more than one year 5 - (248,019)
Net assets 261,557 214,482
Capital and reserves
Called up share capital 100 100
Profit and loss account 261,457 214,382
Shareholder's funds 261,557 214,482
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Suyanto
Director
Approved by the board on 27 November 2023
Pors Properties Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Fixtures & fittings Equipments Total
£ £ £ £
Cost
At 1 October 2022 655,472 798 8,372 664,642
Additions 745,214 - - 745,214
Disposals (655,472) - - (655,472)
At 30 September 2023 745,214 798 8,372 754,384
Depreciation
At 1 October 2022 - 692 8,081 8,773
Charge for the year - 54 145 199
At 30 September 2023 - 746 8,226 8,972
Net book value
At 30 September 2023 745,214 52 146 745,412
At 30 September 2022 655,472 106 291 655,869
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' loan accounts 274,539 32,631
Other loan (Parents) 155,000 155,000
Corporation tax 11,332 3,192
Other creditors 47,857 19,597
488,728 210,420
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - Interbay - 248,019
6 Other information
Pors Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
7b Torriano Avenue
London
NW5 2SN
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