IRIS Accounts Production v24.2.0.383 07996580 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079965802023-03-31079965802024-03-31079965802023-04-012024-03-31079965802022-03-31079965802022-04-012023-03-31079965802023-03-3107996580ns15:EnglandWales2023-04-012024-03-3107996580ns14:PoundSterling2023-04-012024-03-3107996580ns10:Director12023-04-012024-03-3107996580ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107996580ns10:SmallEntities2023-04-012024-03-3107996580ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107996580ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107996580ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107996580ns10:FullAccounts2023-04-012024-03-3107996580ns10:RegisteredOffice2023-04-012024-03-3107996580ns5:CurrentFinancialInstruments2024-03-3107996580ns5:CurrentFinancialInstruments2023-03-3107996580ns5:Non-currentFinancialInstruments2024-03-3107996580ns5:Non-currentFinancialInstruments2023-03-3107996580ns5:ShareCapital2024-03-3107996580ns5:ShareCapital2023-03-3107996580ns5:RetainedEarningsAccumulatedLosses2024-03-3107996580ns5:RetainedEarningsAccumulatedLosses2023-03-3107996580ns5:FurnitureFittings2023-04-012024-03-3107996580ns5:MotorVehicles2023-04-012024-03-3107996580ns5:ComputerEquipment2023-04-012024-03-3107996580ns5:FurnitureFittings2023-03-3107996580ns5:MotorVehicles2023-03-3107996580ns5:ComputerEquipment2023-03-3107996580ns5:FurnitureFittings2024-03-3107996580ns5:MotorVehicles2024-03-3107996580ns5:ComputerEquipment2024-03-3107996580ns5:FurnitureFittings2023-03-3107996580ns5:MotorVehicles2023-03-3107996580ns5:ComputerEquipment2023-03-3107996580ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3107996580ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3107996580ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3107996580ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3107996580ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107996580ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107996580ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-03-3107996580ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-31079965801ns10:Director12023-03-31079965801ns10:Director12022-03-31079965801ns10:Director12023-04-012024-03-31079965801ns10:Director12022-04-012023-03-31079965801ns10:Director12024-03-31079965801ns10:Director12023-03-31
REGISTERED NUMBER: 07996580 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Portsand Limited
T/A
Brace Orthopaedic

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Portsand Limited
T/A Brace Orthopaedic

Company Information
for the year ended 31 March 2024







DIRECTOR: C W Mitchell





REGISTERED OFFICE: Unit 8
Evans Business Centre
Orion Business Park
North Shields
Tyne and Wear
NE29 7SN





REGISTERED NUMBER: 07996580 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,256 83,003

CURRENT ASSETS
Stocks 415,020 396,598
Debtors 5 342,781 381,039
Cash at bank and in hand 98,935 94,278
856,736 871,915
CREDITORS
Amounts falling due within one year 6 450,894 420,365
NET CURRENT ASSETS 405,842 451,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

461,098

534,553

CREDITORS
Amounts falling due after more than one
year

7

(30,408

)

(56,355

)

PROVISIONS FOR LIABILITIES (475 ) (10,830 )
NET ASSETS 430,215 467,368

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Retained earnings 429,115 466,268
SHAREHOLDERS' FUNDS 430,215 467,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Statement of Financial Position - continued
31 March 2024


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 director and authorised for issue on 25 September 2024 and were signed by:





C W Mitchell - Director


Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Portsand 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.

The financial statements have bee prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the director considers to be appropriate.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% Straight line
Motor vehicles - 25% on reducing balance
Computer equipment - 33% Straight line

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 26,616 102,986 22,311 151,913
Additions 1,057 - 873 1,930
Disposals - (29,496 ) - (29,496 )
At 31 March 2024 27,673 73,490 23,184 124,347
DEPRECIATION
At 1 April 2023 14,682 36,807 17,421 68,910
Charge for year 3,311 14,322 2,556 20,189
Eliminated on disposal - (20,008 ) - (20,008 )
At 31 March 2024 17,993 31,121 19,977 69,091
NET BOOK VALUE
At 31 March 2024 9,680 42,369 3,207 55,256
At 31 March 2023 11,934 66,179 4,890 83,003

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 102,986
DEPRECIATION
At 1 April 2023 36,807
Charge for year 14,322
Eliminated on disposal (20,008 )
At 31 March 2024 31,121
NET BOOK VALUE
At 31 March 2024 71,865
At 31 March 2023 66,179

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 200,188 267,828
Other debtors 113,173 88,406
313,361 356,234

Amounts falling due after more than one year:
Other debtors 29,420 24,805

Aggregate amounts 342,781 381,039

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 10,010 10,010
Trade creditors 298,413 196,261
Taxation and social security 106,548 143,052
Other creditors 25,923 61,042
450,894 420,365

Portsand Limited (Registered number: 07996580)
T/A Brace Orthopaedic

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,964 21,315
Hire purchase contracts 20,444 35,040
30,408 56,355

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,454 45,050

Hire purchase contracts are secured on the assets to which they relate.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
C W Mitchell
Balance outstanding at start of year 75,728 60,233
Amounts advanced 92,675 98,440
Amounts repaid (79,000 ) (82,945 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 89,403 75,728