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REGISTERED NUMBER: 10705254 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PORTELET MANOR LIMITED

PORTELET MANOR LIMITED (REGISTERED NUMBER: 10705254)






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


PORTELET MANOR LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Varun Verma
Amit Verma
Amar Jyoti Verma





REGISTERED OFFICE: 36 Wilcot Close
Bisley
Woking
Surrey
GU24 9DE





REGISTERED NUMBER: 10705254 (England and Wales)





ACCOUNTANTS: Morgan Reach Chartered Certified Accountants
Morgan Reach House
136 Hagley Road
Birmingham
West Midlands
B16 9NX

PORTELET MANOR LIMITED (REGISTERED NUMBER: 10705254)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 182,000 196,000
Property, plant and equipment 4 90,392 31,919
272,392 227,919

CURRENT ASSETS
Debtors 5 118,685 13,633
Cash at bank and in hand 151,001 105,327
269,686 118,960
CREDITORS
Amounts falling due within one year 6 76,853 101,319
NET CURRENT ASSETS 192,833 17,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,225

245,560

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 465,125 245,460
SHAREHOLDERS' FUNDS 465,225 245,560

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 2 August 2024 and were signed on its behalf by:




Amit Verma - Director


PORTELET MANOR LIMITED (REGISTERED NUMBER: 10705254)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 30 ) .

PORTELET MANOR LIMITED (REGISTERED NUMBER: 10705254)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 238,000
AMORTISATION
At 1 January 2023 42,000
Charge for year 14,000
At 31 December 2023 56,000
NET BOOK VALUE
At 31 December 2023 182,000
At 31 December 2022 196,000

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 January 2023 58,811
Additions 88,603
At 31 December 2023 147,414
DEPRECIATION
At 1 January 2023 26,892
Charge for year 30,130
At 31 December 2023 57,022
NET BOOK VALUE
At 31 December 2023 90,392
At 31 December 2022 31,919

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,404 (1,170 )
Other debtors 115,281 14,803
118,685 13,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 73,074 50,044
Other creditors 3,779 51,275
76,853 101,319