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REGISTERED NUMBER: 01162086 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

PORTMEIRION SHOPS LIMITED

PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PORTMEIRION SHOPS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Ms M Angharad
Mrs S Llywelyn
Mr R Llywelyn





SECRETARY: Mr I W Roberts





REGISTERED OFFICE: Accounts Office
Portmeirion Minffordd
Penrhyndeudraeth
Gwynedd
LL48 6ER





REGISTERED NUMBER: 01162086 (England and Wales)

PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)

ABRIDGED BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 832 1,834
Tangible assets 5 1,043,578 1,050,873
1,044,410 1,052,707

CURRENT ASSETS
Stocks 473,316 389,104
Debtors 11,599 58,872
Cash at bank 29,746 1,466
514,661 449,442
CREDITORS
Amounts falling due within one year 309,851 311,748
NET CURRENT ASSETS 204,810 137,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,249,220

1,190,401

CREDITORS
Amounts falling due after more than one
year

(605,215

)

(614,203

)

PROVISIONS FOR LIABILITIES (48,000 ) (36,000 )
NET ASSETS 596,005 540,198

CAPITAL AND RESERVES
Called up share capital 302,600 302,600
Retained earnings 293,405 237,598
596,005 540,198

PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)

ABRIDGED BALANCE SHEET - continued
31ST JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th October 2024 and were signed on its behalf by:





Mrs S Llywelyn - Director


PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Portmeirion Shops 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - Over the life of the lease
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2023 - 57 ) .

PORTMEIRION SHOPS LIMITED (REGISTERED NUMBER: 01162086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1st February 2023
and 31st January 2024 14,649
AMORTISATION
At 1st February 2023 12,815
Amortisation for year 1,002
At 31st January 2024 13,817
NET BOOK VALUE

At 31st January 2024 832
At 31st January 2023 1,834

5. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1st February 2023 2,491,267
Additions 59,885
Disposals (43,000 )
At 31st January 2024 2,508,152
DEPRECIATION
At 1st February 2023 1,440,394
Charge for year 64,654
Eliminated on disposal (40,474 )
At 31st January 2024 1,464,574
NET BOOK VALUE
At 31st January 2024 1,043,578
At 31st January 2023 1,050,873