IRIS Accounts Production v24.1.0.578 11168372 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111683722022-12-31111683722023-12-31111683722023-01-012023-12-31111683722021-12-31111683722022-01-012022-12-31111683722022-12-3111168372ns15:EnglandWales2023-01-012023-12-3111168372ns14:PoundSterling2023-01-012023-12-3111168372ns10:Director12023-01-012023-12-3111168372ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111168372ns10:SmallEntities2023-01-012023-12-3111168372ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3111168372ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111168372ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111168372ns10:FullAccounts2023-01-012023-12-3111168372ns10:RegisteredOffice2023-01-012023-12-3111168372ns10:Director22023-01-012023-12-3111168372ns5:RetainedEarningsAccumulatedLosses2022-12-3111168372ns5:RetainedEarningsAccumulatedLosses2021-12-3111168372ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3111168372ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3111168372ns5:RetainedEarningsAccumulatedLosses2023-12-3111168372ns5:RetainedEarningsAccumulatedLosses2022-12-3111168372ns5:CurrentFinancialInstruments2023-12-3111168372ns5:CurrentFinancialInstruments2022-12-3111168372ns5:ShareCapital2023-12-3111168372ns5:ShareCapital2022-12-3111168372ns5:PlantMachinery2023-01-012023-12-3111168372ns5:PlantMachinery2022-12-3111168372ns5:PlantMachinery2023-12-3111168372ns5:PlantMachinery2022-12-3111168372ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111168372ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 11168372 (England and Wales)

























Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Portfolio Architects Ltd

Portfolio Architects Ltd (Registered number: 11168372)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


Portfolio Architects Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Miss E L Smith





REGISTERED OFFICE: 16 (First Floor) Victoria Road
Tamworth
B79 7HL





REGISTERED NUMBER: 11168372 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
6 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Portfolio Architects Ltd (Registered number: 11168372)

Report of the Director
for the Year Ended 31 December 2023

The director presents her report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of architectural activities.

DIRECTORS
Miss E L Smith has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

M Pedersen - resigned 22 June 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Miss E L Smith - Director


12 April 2024

Portfolio Architects Ltd (Registered number: 11168372)

Statement of Income and Retained Earnings
for the Year Ended 31 December 2023

31.12.23 31.12.22
£    £   

TURNOVER 42,425 51,843

Cost of sales 9,281 7,960
GROSS PROFIT 33,144 43,883

Administrative expenses 23,438 28,630
9,706 15,253

Other operating income 563 -
OPERATING PROFIT 10,269 15,253

Interest receivable and similar income 2 -
PROFIT BEFORE TAXATION 10,271 15,253

Tax on profit 1,952 3,114
PROFIT FOR THE FINANCIAL YEAR 8,319 12,139

Retained earnings at beginning of year 2,987 848

Dividends - (10,000 )

RETAINED EARNINGS AT END OF YEAR 11,306 2,987

Portfolio Architects Ltd (Registered number: 11168372)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66 164

CURRENT ASSETS
Debtors 5 11,388 2,643
Cash at bank 4,161 7,277
15,549 9,920
CREDITORS
Amounts falling due within one year 6 4,177 6,947
NET CURRENT ASSETS 11,372 2,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,438

3,137

PROVISIONS FOR LIABILITIES 12 30
NET ASSETS 11,426 3,107

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 11,306 2,987
SHAREHOLDERS' FUNDS 11,426 3,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

Portfolio Architects Ltd (Registered number: 11168372)

Balance Sheet - continued
31 December 2023


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

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:





Miss E L Smith - Director


Portfolio Architects Ltd (Registered number: 11168372)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Portfolio Architects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.
Plant and machinery etc - 33% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Portfolio Architects Ltd (Registered number: 11168372)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 5,966
DEPRECIATION
At 1 January 2023 5,802
Charge for year 98
At 31 December 2023 5,900
NET BOOK VALUE
At 31 December 2023 66
At 31 December 2022 164

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,140 1,319
Amounts owed by associates 716 -
Other debtors 5,532 1,324
11,388 2,643

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 2,017 3,286
Other creditors 2,160 3,661
4,177 6,947

7. RELATED PARTY DISCLOSURES

During the year the company received loans of £716 from Pedersen Smith Developments Ltd, a company under the control of Miss Smith, the director. This amount remains outstanding at the balance sheet date (2022: £nil).

Portfolio Architects Ltd (Registered number: 11168372)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is Miss E L Smith.