2022-08-012023-07-312023-07-31false04707903PORTECH SYSTEMS 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PORTECH SYSTEMS LIMITED

Registered Number
04707903
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

PORTECH SYSTEMS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

S Naeem
N Naeem

Registered Address

Webster & Horsfall
The Fordrough
Birmingham
B25 8DW

Registered Number

04707903 (England and Wales)
PORTECH SYSTEMS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,8122,416
1,8122,416
Current assets
Debtors714,50610,307
Cash at bank and on hand37,13843,309
51,64453,616
Creditors amounts falling due within one year8(13,090)(15,917)
Net current assets (liabilities)38,55437,699
Total assets less current liabilities40,36640,115
Creditors amounts falling due after one year9(40,000)(40,000)
Net assets366115
Capital and reserves
Called up share capital100100
Profit and loss account26615
Shareholders' funds366115
The financial statements were approved and authorised for issue by the Board of Directors on 9 January 2024, and are signed on its behalf by:
S Naeem
Director
Registered Company No. 04707903
PORTECH SYSTEMS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Taxation policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year44
5.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 227,87714,12922,006
At 31 July 237,87714,12922,006
Depreciation and impairment
At 01 August 227,44712,14319,590
Charge for year107497604
At 31 July 237,55412,64020,194
Net book value
At 31 July 233231,4891,812
At 31 July 224301,9862,416
6.Description of nature of transactions and balances with related parties
Included in other creditors is the directors' current account of £44,827 (2022: £41,081) this belongs to both the directors.
7.Debtors

2023

2022

££
Trade debtors / trade receivables14,50610,307
Total14,50610,307
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables7061,919
Taxation and social security3,8439,202
Other creditors8,5414,796
Total13,09015,917
9.Creditors after one year

2023

2022

££
Other creditors40,00040,000
Total40,00040,000