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REGISTERED NUMBER: 05019945 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

PORCHETECH LIMITED

PORCHETECH LIMITED (REGISTERED NUMBER: 05019945)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31st March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PORCHETECH LIMITED

COMPANY INFORMATION
for the year ended 31st March 2023







DIRECTOR: A Summers





SECRETARY: Mrs P Summers





REGISTERED OFFICE: 9 Rosemont Road
Hampstead
London
NW3 6NG





REGISTERED NUMBER: 05019945 (England and Wales)





ACCOUNTANTS: Chegwidden & Co
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex
RM6 4SN

PORCHETECH LIMITED (REGISTERED NUMBER: 05019945)

ABRIDGED BALANCE SHEET
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,455 43,711

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 9,263 14,820
Cash at bank 323,734 304,482
335,997 322,302
CREDITORS
Amounts falling due within one year 99,037 97,521
NET CURRENT ASSETS 236,960 224,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,415

268,492

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 378,115 268,192
SHAREHOLDERS' FUNDS 378,415 268,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 15th December 2023 and were signed by:



A Summers - Director


PORCHETECH LIMITED (REGISTERED NUMBER: 05019945)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Porchetech 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on 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.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

PORCHETECH LIMITED (REGISTERED NUMBER: 05019945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 159,925
Additions 124,410
At 31st March 2023 284,335
DEPRECIATION
At 1st April 2022 116,214
Charge for year 26,666
At 31st March 2023 142,880
NET BOOK VALUE
At 31st March 2023 141,455
At 31st March 2022 43,711

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
A Summers
Balance outstanding at start of year 9,524 12,285
Amounts advanced 57,919 67,239
Amounts repaid (70,000 ) (70,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,557 ) 9,524

6. RELATED PARTY DISCLOSURES

Included in other creditors is a loan from the director in the sum of £2,557 (2022; other debtor £9,524) which is interest free and repayable on demand.

Dividends totalling £35,000 (2022; £35,000) were paid to the director during the year.

7. ULTIMATE CONTROLLING PARTY

A Summers and Mrs P Summers control the company by virtue of their 100 percent holding of the issued share capital.