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REGISTERED NUMBER: 06320382 (England and Wales)









PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED (REGISTERED NUMBER: 06320382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: A Clodfelter
S R Smith
I Robinson
C Sutherland
B Okafor





SECRETARY: A Clodfelter





REGISTERED OFFICE: The Student Centre
Cambridge Road
Portsmouth
Hampshire
PO1 2EF





REGISTERED NUMBER: 06320382 (England and Wales)





AUDITORS: Morris Crocker Limited
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
PO9 1QU

PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED (REGISTERED NUMBER: 06320382)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 46,971 63,426
Debtors 4 26,850 20,685
Cash at bank 33,676 39,115
107,497 123,226
CREDITORS
Amounts falling due within one year 5 107,496 123,225
NET CURRENT ASSETS 1 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

1

CAPITAL AND RESERVES
Called up share capital 1 1
1 1

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





A Clodfelter - Director


PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED (REGISTERED NUMBER: 06320382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Portsmouth Students' Union Trading Company 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.

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

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

Financial instruments
Financial instruments are recognised in the statement of financial activities when the charity becomes a party to the contractual provisions of the instruments. Financial instruments are initially measured at transaction price and subsequently accounted for as set out below.

Financial instruments are classified as 'basic' in accordance with Chapter 11 of FRS 102.

At the end of each reporting period, basic financial instruments are measured at amortised cost using the effective interest rate method.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire, or when the charity has transferred substantially all the risks and rewards of ownership. Financial liabilities are derecognised only once the liability has been extinguished through discharge, cancellation or expiry.

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.

PORTSMOUTH STUDENTS' UNION TRADING
COMPANY LIMITED (REGISTERED NUMBER: 06320382)

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

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,850 20,685

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 3,757
Amounts owed to group undertakings 89,762 104,799
Taxation and social security 6,858 1,439
Other creditors 10,876 13,230
107,496 123,225

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Underwood (Senior Statutory Auditor)
for and on behalf of Morris Crocker Limited

7. RELATED PARTY DISCLOSURES

During the year ended 31 July 2024, Portsmouth Students' Union Trading Company Limited made a profit of £79,429 (2023: £74,380) and this will be distributed to its parent charity The University of Portsmouth Students' Union under gift aid by 30 April 2025.