Portman Square Partners Limited |
Registered number: |
08201276 |
Balance Sheet |
as at 30 September 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
591 |
|
|
1,033 |
|
Current assets |
Debtors |
4 |
|
- |
|
|
4,426 |
Cash at bank and in hand |
|
|
215 |
|
|
24,068 |
|
|
|
215 |
|
|
28,494 |
|
Creditors: amounts falling due within one year |
5 |
|
2,000 |
|
|
(17,236) |
|
Net current assets |
|
|
|
2,215 |
|
|
11,258 |
|
Net assets |
|
|
|
2,806 |
|
|
12,291 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
2,804 |
|
|
12,289 |
|
Shareholders' funds |
|
|
|
2,806 |
|
|
12,291 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
Neil McKay |
Director |
Approved by the board on 17 January 2024 |
|
Portman Square Partners 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 rendering of services. 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: |
|
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Office equipmnent |
£ |
|
Cost |
|
At 1 October 2022 |
2,207 |
|
At 30 September 2023 |
2,207 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2022 |
1,174 |
|
Charge for the year |
442 |
|
At 30 September 2023 |
1,616 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2023 |
591 |
|
At 30 September 2022 |
1,033 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
- |
|
4,426 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Corporation tax |
|
|
|
|
|
|
12,504 |
|
Taxation and social security costs |
4,148 |
|
3,957 |
|
Directors' loan account |
(7,984) |
|
25 |
|
Other creditors |
1,836 |
|
750 |
|
|
|
|
|
|
(2,000) |
|
17,236 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
During the year the directors received salaries of £8,966 (2021: £17,628) and the company paid them dividends of £40,000 (2021: £nil). At the year end the company owed the director £25 (2021: £7,087). |
|
|
7 |
Controlling party |
|
|
The company is under the joint control of Neil and Lucy McKay, shareholders and directors of the company. |
|
|
8 |
Other information |
|
|
Portman Square Partners Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
28 Caldecott Road |
|
Great Easton |
|
Market Harborough |
|
Leicestershire |
|
LE16 8TB |