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Registration number: 12288804

Porter & Woodman Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Porter & Woodman Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Porter & Woodman Holdings Limited

Company Information

Directors

Mr M J Branch

Mr A Lill

Registered office

Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Porter & Woodman Holdings Limited

(Registration number: 12288804)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,909,500

1,909,500

Current assets

 

Debtors

5

2

2

Creditors: Amounts falling due within one year

6

(385,000)

(385,000)

Net current liabilities

 

(384,998)

(384,998)

Total assets less current liabilities

 

1,524,502

1,524,502

Creditors: Amounts falling due after more than one year

6

(146,528)

(346,528)

Net assets

 

1,377,974

1,177,974

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

1,377,972

1,177,972

Shareholders' funds

 

1,377,974

1,177,974

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

Mr M J Branch
Director

Mr A Lill
Director

 
     
 

Porter & Woodman Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

The principal place of business is:
c/o Porter & Woodman
1 & 2 Millrace Lane
Stourbridge Industrial Estate
Stourbridge
DY8 1JN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by section 399 2A of the Companies Act 2006 not to prepare group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

 

Porter & Woodman Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Porter & Woodman Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,909,500

1,909,500

Subsidiaries

£

Cost or valuation

At 1 February 2023

1,909,500

At 31 January 2024

1,909,500

Carrying amount

At 31 January 2024

1,909,500

At 31 January 2023

1,909,500

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Porter & Woodman Gifts Limited

1&2 Mill Race Lane
Stourbridge
West Midlands
DY8 1JN

England & Wales

A Ordinary

100%

100%

Subsidiary undertakings

Porter & Woodman Gifts Limited

The principal activity of Porter & Woodman Gifts Limited is sales of hampers and wooden products.

 

Porter & Woodman Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

2

2

 

2

2

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

385,000

385,000

Creditors include other loans which are secured of £385,000.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

146,528

346,528

Creditors include other loans which are secured of £146,528.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

1

1

1

1

B Ordinary of £1 each

1

1

1

1

2

2

2

2

 

Porter & Woodman Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Secured debentures

146,528

346,528

Current loans and borrowings

2024
£

2023
£

Secured debentures

385,000

385,000