PORTRUSH SOLUTIONS LIMITED

Company Registration Number:
11183439 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

PORTRUSH SOLUTIONS LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

PORTRUSH SOLUTIONS LIMITED

Company Information

for the Period Ended 28 February 2023




Registered office: 61
Bridge Street
Kington
England
HR5 3DJ
Company Registration Number: 11183439 (England and Wales)

PORTRUSH SOLUTIONS LIMITED

Balance sheet

As at 28 February 2023


Notes

2023
£

2022
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 4 2 2
Cash at bank and in hand: 11,722 10,497
Total current assets: 11,724 10,499
Creditors: amounts falling due within one year: 5 ( 22,746 ) ( 17,307 )
Net current assets (liabilities): ( 11,022 ) ( 6,808 )
Total assets less current liabilities: ( 11,022 ) ( 6,808 )
Total net assets (liabilities): ( 11,022 ) ( 6,808 )

The notes form part of these financial statements

PORTRUSH SOLUTIONS LIMITED

Balance sheet continued

As at 28 February 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 2 2
Profit and loss account: ( 11,024 ) ( 6,810 )
Shareholders funds: ( 11,022 ) ( 6,808 )

For the year ending 28 February 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 5 August 2024
And Signed On Behalf Of The Board By:

Name: Gareth Mclaughlin
Status: Director

The notes form part of these financial statements

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover
    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Sale of goods

    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

    Rendering of services

    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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies (continued)

    Other accounting policies

    Going Concern Disclosure The financial statements have been prepared on a going concern basis at the balance sheet date the company had net (liabilities)/assets amounting to (£11022) 2022: (£6808) and incurred a net profit after tax of £10,098 2022: £18,386. The company will continue its operations for the foreseeable future without any intention or necessity to liquidate or significantly curtail its activities, and management has assessed that there are no material uncertainties that cast significant doubt on the company's ability to continue as a going concern. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Corporate tax and other social security taxes include both the current year's tax liability and amount outstanding from the previous year. These are still classified as current liabilities because they are due within one year.

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 3. Off balance sheet disclosure

    No

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors


2023
£

2022
£
Other debtors 2 2
Total 2 2

PORTRUSH SOLUTIONS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 3,114 44
Taxation and social security 19,535 17,166
Other creditors 97 97
Total 22,746 17,307