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Company Registration No. 05752421 (England and Wales)
PORTERHOUSE DESIGN LTD Unaudited accounts for the year ended 31 March 2023
PORTERHOUSE DESIGN LTD Unaudited accounts Contents
Page
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PORTERHOUSE DESIGN LTD Company Information for the year ended 31 March 2023
Director
Mr. Martin Wayne Porter
Company Number
05752421 (England and Wales)
Registered Office
10 Manor Road London N16 5SA United Kingdom
Accountants
Stoke Newington Accountants & Tax Consultants Ltd 4 Baird Road Enfield Middlesex EN1 1SJ
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PORTERHOUSE DESIGN LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,245 
1,444 
Current assets
Inventories
12,950 
7,214 
Debtors
18,735 
22,279 
Cash at bank and in hand
6,716 
15,461 
38,401 
44,954 
Creditors: amounts falling due within one year
(22,629)
(22,517)
Net current assets
15,772 
22,437 
Total assets less current liabilities
18,017 
23,881 
Creditors: amounts falling due after more than one year
(17,094)
(22,558)
Net assets
923 
1,323 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(77)
323 
Shareholders' funds
923 
1,323 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 December 2023 and were signed on its behalf by
Mr. Martin Wayne Porter Director Company Registration No. 05752421
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PORTERHOUSE DESIGN LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
PORTERHOUSE DESIGN LTD is a private company, limited by shares, registered in England and Wales, registration number 05752421. The registered office is 10 Manor Road, London, N16 5SA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance method
Motor vehicles
25% Reducing balance method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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PORTERHOUSE DESIGN LTD Notes to the Accounts for the year ended 31 March 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
7,881 
1,300 
- 
9,181 
Additions
583 
- 
615 
1,198 
At 31 March 2023
8,464 
1,300 
615 
10,379 
Depreciation
At 1 April 2022
6,437 
1,300 
- 
7,737 
Charge for the year
305 
- 
92 
397 
At 31 March 2023
6,742 
1,300 
92 
8,134 
Net book value
At 31 March 2023
1,722 
- 
523 
2,245 
At 31 March 2022
1,444 
- 
- 
1,444 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,384 
22,279 
Other debtors
10,351 
- 
18,735 
22,279 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,684 
4,531 
Trade creditors
10,920 
7,807 
Taxes and social security
5,832 
5,646 
Other creditors
334 
1,710 
Loans from directors
- 
189 
Accruals
1,859 
2,634 
22,629 
22,517 
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PORTERHOUSE DESIGN LTD Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,094 
22,558 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
9
Transactions with related parties
At the balance sheet date, where the director held controlling interest, the company was owed by the director £10,351.
10
Controlling party
The company's ultimate controlling party is Martin Wayne Porter by virtue of his ownership of 100% of the issued share capital in the company.
11
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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