Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11366904 2022-08-01 2023-07-31 11366904 2021-08-01 2022-07-31 11366904 2023-07-31 11366904 2022-07-31 11366904 c:Director1 2022-08-01 2023-07-31 11366904 c:RegisteredOffice 2022-08-01 2023-07-31 11366904 d:OfficeEquipment 2022-08-01 2023-07-31 11366904 d:OfficeEquipment 2023-07-31 11366904 d:OfficeEquipment 2022-07-31 11366904 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11366904 d:ComputerEquipment 2022-08-01 2023-07-31 11366904 d:ComputerEquipment 2023-07-31 11366904 d:ComputerEquipment 2022-07-31 11366904 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11366904 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11366904 d:CurrentFinancialInstruments 2023-07-31 11366904 d:CurrentFinancialInstruments 2022-07-31 11366904 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11366904 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 11366904 d:ShareCapital 2023-07-31 11366904 d:ShareCapital 2022-07-31 11366904 d:RetainedEarningsAccumulatedLosses 2023-07-31 11366904 d:RetainedEarningsAccumulatedLosses 2022-07-31 11366904 c:OrdinaryShareClass1 2022-08-01 2023-07-31 11366904 c:OrdinaryShareClass1 2023-07-31 11366904 c:OrdinaryShareClass1 2022-07-31 11366904 c:FRS102 2022-08-01 2023-07-31 11366904 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 11366904 c:FullAccounts 2022-08-01 2023-07-31 11366904 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11366904










PORT80 SECURITY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 
PORT80 SECURITY LIMITED
 

COMPANY INFORMATION


DIRECTOR
Dr D Scholefield 




REGISTERED NUMBER
11366904



REGISTERED OFFICE
International House
Holborn Viaduct

London

EC1A 2BN




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
PORT80 SECURITY LIMITED
REGISTERED NUMBER: 11366904

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
-
4,819

  
-
4,819

Current assets
  

Debtors: amounts falling due within one year
 5 
417
439

Bank and cash balances
  
7,854
52,894

  
8,271
53,333

Creditors: amounts falling due within one year
 6 
(2,930)
(16,781)

Net current assets
  
 
 
5,341
 
 
36,552

Total assets less current liabilities
  
5,341
41,371

Provisions for liabilities
  

Deferred tax
  
-
(916)

  
 
 
-
 
 
(916)

Net assets
  
5,341
40,455


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
5,340
40,454

  
5,341
40,455


Page 1

 
PORT80 SECURITY LIMITED
REGISTERED NUMBER: 11366904

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr D Scholefield
Director

Date: 26 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PORT80 SECURITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Port80 Security Limited is limited by shares and incorporated in England. The address of the registered office is International House, Holborn Viaduct, London, United Kingdom, EC1A 2BN.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.
The company ceased trading on 31 July 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PORT80 SECURITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PORT80 SECURITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£





At 1 August 2022
249
5,289
5,538


Additions
-
1,323
1,323


Disposals
(249)
(6,612)
(6,861)



At 31 July 2023

-
-
-





At 1 August 2022
52
667
719


Charge for the year on owned assets
197
4,945
5,142


Disposals
(249)
(5,612)
(5,861)



At 31 July 2023

-
-
-



Net book value



At 31 July 2023
-
-
-



At 31 July 2022
197
4,622
4,819

Page 5

 
PORT80 SECURITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Other debtors
-
439

Tax recoverable
417
-

417
439



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
1,430
14,331

Accruals and deferred income
1,500
2,450

2,930
16,781



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



Page 6