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REGISTERED NUMBER: OC379882 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Portfield Asset Management LLP

Portfield Asset Management LLP (Registered number: OC379882)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Portfield Asset Management LLP

General Information
for the year ended 30 June 2023







DESIGNATED MEMBERS: A J Grimshaw
Mrs J M Grimshaw





REGISTERED OFFICE: Royal House
110 Station Parade
Harrogate
West Yorkshire
HG1 1EP





REGISTERED NUMBER: OC379882 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Portfield Asset Management LLP (Registered number: OC379882)

Abridged Balance Sheet
30 June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,795 58,157

CURRENT ASSETS
Debtors 30,204 26,095
Cash at bank 84,404 33,667
114,608 59,762
CREDITORS
Amounts falling due within one year 54,467 21,204
NET CURRENT ASSETS 60,141 38,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,936

96,715

CREDITORS
Amounts falling due after more than one
year

66,667

-
NET ASSETS ATTRIBUTABLE TO
MEMBERS

125,269

96,715

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

125,269

96,715

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 125,269 96,715

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Portfield Asset Management LLP (Registered number: OC379882)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 7 February 2024 and were signed by:





A J Grimshaw - Designated member

Portfield Asset Management LLP (Registered number: OC379882)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Portfield Asset Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 114,334
Additions 137,651
Disposals (47,341 )
At 30 June 2023 204,644
DEPRECIATION
At 1 July 2022 56,177
Charge for year 37,383
Eliminated on disposal (20,711 )
At 30 June 2023 72,849
NET BOOK VALUE
At 30 June 2023 131,795
At 30 June 2022 58,157

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are repayable once all other liabilities have been met.