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Company Registration No. 5508057 (England and Wales)
Porters Foliage Limited Unaudited accounts for the year ended 31 July 2023
Porters Foliage Limited Unaudited accounts Contents
Page
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Porters Foliage Limited Company Information for the year ended 31 July 2023
Director
B R Porter
Company Number
5508057 (England and Wales)
Registered Office
Units A8-15 Flower Market New Covent Garden Market London SW8 5EH
Accountants
Keywhites Limited 26 Grisedale Gardens Purley Surrey CR8 1EN
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Porters Foliage Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
73,485 
51,854 
Current assets
Inventories
243,573 
211,175 
Debtors
181,889 
306,295 
Cash at bank and in hand
201,279 
323,990 
626,741 
841,460 
Creditors: amounts falling due within one year
(374,152)
(471,896)
Net current assets
252,589 
369,564 
Total assets less current liabilities
326,074 
421,418 
Creditors: amounts falling due after more than one year
(93,750)
(168,750)
Provisions for liabilities
Deferred tax
(18,372)
(9,852)
Net assets
213,952 
242,816 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
213,852 
242,716 
Shareholders' funds
213,952 
242,816 
For the year ending 31 July 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 April 2024 and were signed on its behalf by
B R Porter Director Company Registration No. 5508057
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Porters Foliage Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Porters Foliage Limited is a private company, limited by shares, registered in England and Wales, registration number 5508057. The registered office is Units A8-15 Flower Market, New Covent Garden Market, London, SW8 5EH.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Porters Foliage Limited Notes to the Accounts for the year ended 31 July 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
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
52,570 
137,457 
190,027 
Additions
32,000 
15,002 
47,002 
At 31 July 2023
84,570 
152,459 
237,029 
Depreciation
At 1 August 2022
28,635 
109,538 
138,173 
Charge for the year
14,640 
10,731 
25,371 
At 31 July 2023
43,275 
120,269 
163,544 
Net book value
At 31 July 2023
41,295 
32,190 
73,485 
At 31 July 2022
23,935 
27,919 
51,854 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
159,935 
219,009 
Other debtors
21,954 
87,286 
181,889 
306,295 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
75,000 
75,000 
Trade creditors
89,931 
143,560 
Taxes and social security
154,330 
248,959 
Other creditors
54,606 
4,089 
Loans from directors
285 
288 
374,152 
471,896 
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Porters Foliage Limited Notes to the Accounts for the year ended 31 July 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
93,750 
168,750 
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
18,372 
9,852 
2023 
2022 
£ 
£ 
Provision at start of year
9,852 
12,804 
Charged/(credited) to the profit and loss account
8,520 
(2,952)
Provision at end of year
18,372 
9,852 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
76,702 
- 
Later than one year and not later than five years
- 
34,478 
76,702 
34,478 
11
Average number of employees
During the year the average number of employees was 9 (2022: 11).
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