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REGISTERED NUMBER: 05250844 (England and Wales)
















Financial Statements

for the Year Ended 30 June 2024

for

Portabar Limited

Portabar Limited (Registered number: 05250844)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Portabar Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs C Knowles
S K G Knowles





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 05250844 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Portabar Limited (Registered number: 05250844)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,307 11,625
Tangible assets 5 58,850 16,568
69,157 28,193

CURRENT ASSETS
Stocks 85,986 132,079
Debtors 6 14,130 99,295
Cash at bank 159,890 58,617
260,006 289,991
CREDITORS
Amounts falling due within one year 7 102,362 173,413
NET CURRENT ASSETS 157,644 116,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,801

144,771

PROVISIONS FOR LIABILITIES 14,248 2,558
NET ASSETS 212,553 142,213

Portabar Limited (Registered number: 05250844)

Balance Sheet - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,453 142,113
SHAREHOLDERS' FUNDS 212,553 142,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mrs C Knowles - Director


Portabar Limited (Registered number: 05250844)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

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

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Portabar Limited (Registered number: 05250844)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

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 operated a defined contribution small self administered pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Portabar Limited (Registered number: 05250844)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 20,545
Additions 777
At 30 June 2024 21,322
AMORTISATION
At 1 July 2023 8,920
Charge for year 2,095
At 30 June 2024 11,015
NET BOOK VALUE
At 30 June 2024 10,307
At 30 June 2023 11,625

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 86,334
Additions 66,411
Disposals (14,356 )
At 30 June 2024 138,389
DEPRECIATION
At 1 July 2023 69,766
Charge for year 24,014
Eliminated on disposal (14,241 )
At 30 June 2024 79,539
NET BOOK VALUE
At 30 June 2024 58,850
At 30 June 2023 16,568

Portabar Limited (Registered number: 05250844)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,526 91,057
Other debtors 4,604 8,238
14,130 99,295

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,154 47,240
Taxation and social security 36,176 21,943
Other creditors 63,032 104,230
102,362 173,413