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COMPANY REGISTRATION NUMBER: 13861052
Portico Stone Developments Limited
Filleted Unaudited Financial Statements
For the period ended
31 March 2023
Portico Stone Developments Limited
Statement of Financial Position
31 March 2023
31 Mar 23
Note
£
Fixed assets
Tangible assets
5
40,981
Current assets
Debtors
6
305,516
Cash at bank and in hand
177,950
---------
483,466
Creditors: amounts falling due within one year
7
332,421
---------
Net current assets
151,045
---------
Total assets less current liabilities
192,026
Provisions
Deferred taxation
1,252
---------
Net assets
190,774
---------
Capital and reserves
Called up share capital
100
Profit and loss account
190,674
---------
Shareholders funds
190,774
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Portico Stone Developments Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 19 January 2024 , and are signed on behalf of the board by:
G C Williams
Director
Company registration number: 13861052
Portico Stone Developments Limited
Notes to the Financial Statements
Period from 20 January 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, including estimates for amounts not invoiced at the period end, stated net of discounts and of Value Added Tax. Revenue is recognised when the contract terms have been satisfied by both parties concerned and the amount of revenue can be measured reliably such that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be reliably ascertained.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
20% straight line
Motor vehicles
-
20% straight line
Defined contribution plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 20 January 2022
Additions
4,168
38,723
42,891
-------
--------
--------
At 31 March 2023
4,168
38,723
42,891
-------
--------
--------
Depreciation
At 20 January 2022
Charge for the period
619
1,291
1,910
-------
--------
--------
At 31 March 2023
619
1,291
1,910
-------
--------
--------
Carrying amount
At 31 March 2023
3,549
37,432
40,981
-------
--------
--------
6. Debtors
31 Mar 23
£
Other debtors
305,516
---------
7. Creditors: amounts falling due within one year
31 Mar 23
£
Social security and other taxes
65,182
Other creditors
267,239
---------
332,421
---------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31 Mar 23
£
Included in provisions
1,252
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
31 Mar 23
£
Accelerated capital allowances
1,252
-------