Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00586007 2023-01-01 2023-12-31 00586007 2022-01-01 2022-12-31 00586007 2023-12-31 00586007 2022-12-31 00586007 c:Director1 2023-01-01 2023-12-31 00586007 d:Buildings 2023-01-01 2023-12-31 00586007 d:Buildings 2023-12-31 00586007 d:Buildings 2022-12-31 00586007 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00586007 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 00586007 d:PlantMachinery 2023-01-01 2023-12-31 00586007 d:PlantMachinery 2023-12-31 00586007 d:PlantMachinery 2022-12-31 00586007 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00586007 d:MotorVehicles 2023-01-01 2023-12-31 00586007 d:MotorVehicles 2023-12-31 00586007 d:MotorVehicles 2022-12-31 00586007 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00586007 d:FurnitureFittings 2023-01-01 2023-12-31 00586007 d:FurnitureFittings 2023-12-31 00586007 d:FurnitureFittings 2022-12-31 00586007 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00586007 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00586007 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 00586007 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 00586007 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 00586007 d:FreeholdInvestmentProperty 2023-12-31 00586007 d:FreeholdInvestmentProperty 2022-12-31 00586007 d:CurrentFinancialInstruments 2023-12-31 00586007 d:CurrentFinancialInstruments 2022-12-31 00586007 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00586007 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00586007 d:ShareCapital 2023-12-31 00586007 d:ShareCapital 2022-12-31 00586007 d:RevaluationReserve 2023-01-01 2023-12-31 00586007 d:RevaluationReserve 2023-12-31 00586007 d:RevaluationReserve 2022-12-31 00586007 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 00586007 d:OtherMiscellaneousReserve 2023-12-31 00586007 d:OtherMiscellaneousReserve 2022-12-31 00586007 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00586007 d:RetainedEarningsAccumulatedLosses 2023-12-31 00586007 d:RetainedEarningsAccumulatedLosses 2022-12-31 00586007 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00586007 c:OrdinaryShareClass1 2023-12-31 00586007 c:OrdinaryShareClass1 2022-12-31 00586007 c:OrdinaryShareClass2 2023-01-01 2023-12-31 00586007 c:OrdinaryShareClass2 2023-12-31 00586007 c:OrdinaryShareClass2 2022-12-31 00586007 c:OrdinaryShareClass3 2023-01-01 2023-12-31 00586007 c:OrdinaryShareClass3 2023-12-31 00586007 c:OrdinaryShareClass3 2022-12-31 00586007 c:FRS102 2023-01-01 2023-12-31 00586007 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00586007 c:FullAccounts 2023-01-01 2023-12-31 00586007 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00586007 2 2023-01-01 2023-12-31 00586007 5 2023-01-01 2023-12-31 00586007 6 2023-01-01 2023-12-31 00586007 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00586007










PORTER AND MAKINS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PORTER AND MAKINS LIMITED
REGISTERED NUMBER: 00586007

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,650,406
2,706,138

Investments
 6 
100
100

Investment property
 7 
1,125,100
1,120,000

  
3,775,606
3,826,238

Current assets
  

Stocks
 8 
6,189
5,685

Debtors: amounts falling due within one year
 9 
2,132,509
2,176,085

Cash at bank and in hand
  
1,862,820
2,198,487

  
4,001,518
4,380,257

Creditors: amounts falling due within one year
 10 
(189,504)
(184,812)

Net current assets
  
 
 
3,812,014
 
 
4,195,445

Total assets less current liabilities
  
7,587,620
8,021,683

  

Net assets
  
7,587,620
8,021,683


Capital and reserves
  

Called up share capital 
 11 
12,145,000
12,145,000

Revaluation reserve
 12 
147,755
147,755

Other reserves
 12 
232,502
232,502

Profit and loss account
 12 
(4,937,637)
(4,503,574)

  
7,587,620
8,021,683


Page 1

 
PORTER AND MAKINS LIMITED
REGISTERED NUMBER: 00586007
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr W Jordan
Director

Date: 24 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Porter & Makins Limited is a private company limited by shares and incorporated in England and Wales, registration number 00586007. The registered office is Pensthorpe, Fakenham Road, Fakenham, Norfolk, NR21 0LN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The directors have considered the company's position at the time of signing the financial statements, and in particular the current issues caused by the wider economy.
Based on this, the directors have concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future, and, based on the economic environment recovering within the timeframe currently being widely anticipated, at least twelve months from the date of signing these financial statements, they continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 3

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives of intangible assets are considered to be ten years.

Page 4

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis..

Depreciation is provided on the following basis:

Freehold/leasehold land
-
Not depreciated
Freehold/leasehold property
-
2%/5% straight line
Plant and machinery
-
20%/25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2

Page 6

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
1,050



At 31 December 2023

1,050



Amortisation


At 1 January 2023
1,050



At 31 December 2023

1,050



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 7

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
3,240,584
317,881
53,101
136,981
3,748,547


Additions
5,702
-
-
-
5,702



At 31 December 2023

3,246,286
317,881
53,101
136,981
3,754,249



Depreciation


At 1 January 2023
553,034
305,250
52,301
131,824
1,042,409


Charge for the year on owned assets
57,934
2,526
200
774
61,434



At 31 December 2023

610,968
307,776
52,501
132,598
1,103,843



Net book value



At 31 December 2023
2,635,318
10,105
600
4,383
2,650,406



At 31 December 2022
2,687,550
12,631
800
5,157
2,706,138

Included in land and buildings is land at cost of £1,281,088 (2022 - £1,281,088) which is not depreciated.


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
100



At 31 December 2023
100




Page 8

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,120,000


Additions at cost
5,100



At 31 December 2023
1,125,100

The 2023 valuations were made by the directors, on an open market value for existing use basis.



At 31 December 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,053,479
1,048,379


8.


Stocks

2023
2022
£
£

Raw materials and consumables
6,189
5,685

6,189
5,685


Page 9

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2,093,676
2,168,349

Other debtors
22,544
-

Prepayments and accrued income
16,289
7,736

2,132,509
2,176,085



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,194
3,642

Other taxation and social security
2,102
2,600

Other creditors
172,419
168,323

Accruals and deferred income
11,789
10,247

189,504
184,812



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,200 (2022 - 10,200) Ordinary shares of £1.00 each
10,200
10,200
12,124,800 (2022 - 12,124,800) Redeemable ordinary shares of £1.00 each
12,124,800
12,124,800
10,000 (2022 - 10,000) 3.285% preference shares of £1.00 each
10,000
10,000

12,145,000

12,145,000

The preference shares carry a dividend of 4.5% per share and the dividend rights are cumulative. The preference shares shall have no rights to receive notice of and to be present or to vote either in person or by proxy at any general meeting of the company or on any written resolution of the shareholders by virtue or in respect of their holding of preference shares, unless the preferential dividend shall remain unpaid for six months after any date fixed for payment.
Due to the company having insufficient profit and reserves, the dividend payable in respect of the preference shares has been waived.


Page 10

 
PORTER AND MAKINS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Reserves

Revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on investment properties where the fair value of an asset exceeded its original cost. 

Other reserves

The other reserve is a capital reserve which relates to share transactions which occurred historically.

Profit and loss account

The profit and loss account includes all current and prior periods retained profit and losses.

 
Page 11