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Registered number: 08128572

Porter & Daughter Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2023

Prepared By:
Montague Kaye
Accountants & Registered Auditors
82 Reddish Road
Reddish
Stockport
Cheshire
SK5 7QU

Porter & Daughter Limited

ACCOUNTS
FOR THE YEAR ENDED 31/08/2023
DIRECTORS
Mr N Porter
REGISTERED OFFICE
82 Reddish Road
Reddish
Stockport
SK5 7QU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 08128572
ACCOUNTANTS
Montague Kaye
Accountants & Registered Auditors
82 Reddish Road
Reddish
Stockport
Cheshire
SK5 7QU

Porter & Daughter Limited

ACCOUNTS
FOR THEYEARENDED31/08/2023
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

Porter & Daughter Limited

BALANCE SHEET AT 31/08/2023
20232022
Notes££
FIXED ASSETS
Tangible assets32,515,2083,205,208
CURRENT ASSETS
Stock2,591,8441,963,001
Debtors6190,378271,577
Cash at bank and in hand29425,223
2,782,5162,259,801
CREDITORS: Amounts falling due within one year72,018,7871,877,077
NET CURRENT ASSETS763,729382,724
TOTAL ASSETS LESS CURRENT LIABILITIES3,278,9373,587,932
CREDITORS: Amounts falling due after more than one year82,862,1813,193,643
PROVISIONS FOR LIABILITIES AND CHARGES9252,082252,082
NET ASSETS164,674142,207
CAPITAL AND RESERVES
Called up share capital10100100
Profit and loss account164,574142,107
SHAREHOLDERS' FUNDS164,674142,207
For the year ending 31/08/2023 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 29/08/2024 and signed on their behalf by
.............................
Mr N Porter
Director

Porter & Daughter Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/08/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2. EMPLOYEES
20232022
No.No.
Average number of employees11

Porter & Daughter Limited

3. TANGIBLE FIXED ASSETS
Cost
At 31/08/2023
Depreciation
At 31/08/2023
Net Book Amounts
At 31/08/2023
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/09/20223,205,2083,205,208
Disposals(690,000)(690,000)
At 31/08/20232,515,2082,515,208
The investment properties were revalued at the balance sheet date.
Profit and Loss reserve includes a non-distributable amount of £1,324,102, relating to fair value gains on Investment Property.
5. STOCK 20232022
££
Stock comprises:
Stock2,591,8441,963,001
2,591,8441,963,001
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors165,000165,000
VAT-51,897
PAYE control-1,784
Salaries and wages control5,2641,824
Other debtors20,11420,114
Amounts due from related companies-30,958
190,378271,577

Porter & Daughter Limited

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
VAT11,057-
PAYE control1,880-
Directors current account1,870,4271,598,436
Bank Loan12,17210,000
Trade creditors115,299142,997
Other creditors-122,656
Accruals3,0312,988
Amounts due to group companies4,921-
2,018,7871,877,077
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans 23,66133,333
Loans 2,838,5203,160,310
2,862,1813,193,643
Loans include amounts secured by fixed and floating charges over the property owned by the company, it also includes a negative pledge.
9. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation252,082252,082
252,082252,082
10. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100

Porter & Daughter Limited

11. RELATED PARTY TRANSACTIONS
During the current and previous year, the company was under the control of its director and shareholder, Mr N Porter.
As at the balance sheet date the company was owed £30,752 (2021- £27,637) from MYHQ Hub Limited, and £193 from Porter & Daughter Building Company Limited, companies incorporated in the UK, in which Mr Porter also has a controlling interest.