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REGISTERED NUMBER: 00785468 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

B PORTWOOD AND COMPANY LIMITED

B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


B PORTWOOD AND COMPANY LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: J B Portwood
Mrs J Portwood





SECRETARY: Mrs J Portwood





REGISTERED OFFICE: Clydesdale Lodge
Spring Terrace
Coundon Gate
Durham
DL14 8QQ





REGISTERED NUMBER: 00785468 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,315 2,786
Investments 5 3,465 3,465
5,780 6,251

CURRENT ASSETS
Debtors 6 25,128 22,420
Cash at bank and in hand 84,229 61,875
109,357 84,295
CREDITORS
Amounts falling due within one year 7 21,011 39,040
NET CURRENT ASSETS 88,346 45,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,126

51,506

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 92,626 50,006
SHAREHOLDERS' FUNDS 94,126 51,506

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 directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:



J B Portwood - Director


B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

B Portwood and Company Limited 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.

Turnover
Turnover represents commission receivable from insurance companies in respect of insurance brokerage credit for commission is taken when the right to consideration arises in exchange for its performances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 13 ) .

B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 48,896 138,230 187,126
DEPRECIATION
At 1 January 2023 48,495 135,845 184,340
Charge for year 60 411 471
At 31 December 2023 48,555 136,256 184,811
NET BOOK VALUE
At 31 December 2023 341 1,974 2,315
At 31 December 2022 401 2,385 2,786

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 3,465
NET BOOK VALUE
At 31 December 2023 3,465
At 31 December 2022 3,465

Fixed asset investments are stated at cost less provision for impairment. For listed investments, market value is based on the closing middle markets price.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,767 18,989
Other debtors 178 -
Tax 1,152 1,152
Prepayments 2,031 2,279
25,128 22,420

B PORTWOOD AND COMPANY LIMITED (REGISTERED NUMBER: 00785468)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,316 30,682
Tax 2,631 -
Social security and other taxes - 477
Pensions 515 -
Directors' current accounts 7,049 6,381
Accrued expenses 1,500 1,500
21,011 39,040

8. RELATED PARTY DISCLOSURES

The company carries out part of their trade from premises owned personally by Mrs J Portwood & Mr J B Portwood during the year ended 2023 no charge was made (£Nil 2022).

9. ULTIMATE CONTROLLING PARTY

The controlling party is J B Portwood.

The company was under the control of the Portwood family throughout the current and previous year. Collectively they hold 83.3% (2022 83.3%) of the company's issued share capital.