2023-06-012024-05-312024-05-31false10793056PORTER'S PLACE 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PORTER'S PLACE LIMITED

Registered Number
10793056
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

PORTER'S PLACE LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Sandra May Cox
Charles Jeremy Wood

Registered Address

Walker House
Market Place
Somerton
TA11 7LX

Registered Number

10793056 (England and Wales)
PORTER'S PLACE LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property4515,000515,000
515,000515,000
Current assets
Cash at bank and on hand2,8892,915
2,8892,915
Creditors amounts falling due within one year5(118,959)(112,247)
Net current assets (liabilities)(116,070)(109,332)
Total assets less current liabilities398,930405,668
Creditors amounts falling due after one year6(382,783)(382,732)
Net assets16,14722,936
Capital and reserves
Called up share capital100100
Profit and loss account16,04722,836
Shareholders' funds16,14722,936
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
Charles Jeremy Wood
Director
Registered Company No. 10793056
PORTER'S PLACE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
Investment property is carried at fair value, derived from the current market price for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 23528528
At 31 May 24528528
Depreciation and impairment
At 01 June 23528528
At 31 May 24528528
Net book value
At 31 May 24--
At 31 May 23--
4.Investment property

£
Fair value at 01 June 23515,000
At 31 May 24515,000
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties117,682109,209
Taxation and social security-1,844
Accrued liabilities and deferred income1,2771,194
Total118,959112,247
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts382,783382,732
Total382,783382,732