Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01construction of domestic buildingsfalsefalse11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09969518 2023-02-01 2024-01-31 09969518 2022-02-01 2023-01-31 09969518 2024-01-31 09969518 2023-01-31 09969518 c:Director1 2023-02-01 2024-01-31 09969518 d:PlantMachinery 2023-02-01 2024-01-31 09969518 d:PlantMachinery 2024-01-31 09969518 d:PlantMachinery 2023-01-31 09969518 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09969518 d:MotorVehicles 2023-02-01 2024-01-31 09969518 d:MotorVehicles 2024-01-31 09969518 d:MotorVehicles 2023-01-31 09969518 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09969518 d:OfficeEquipment 2023-02-01 2024-01-31 09969518 d:OfficeEquipment 2024-01-31 09969518 d:OfficeEquipment 2023-01-31 09969518 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09969518 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09969518 d:CurrentFinancialInstruments 2024-01-31 09969518 d:CurrentFinancialInstruments 2023-01-31 09969518 d:Non-currentFinancialInstruments 2024-01-31 09969518 d:Non-currentFinancialInstruments 2023-01-31 09969518 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09969518 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09969518 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 09969518 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09969518 d:ShareCapital 2024-01-31 09969518 d:ShareCapital 2023-01-31 09969518 d:RetainedEarningsAccumulatedLosses 2024-01-31 09969518 d:RetainedEarningsAccumulatedLosses 2023-01-31 09969518 c:OrdinaryShareClass1 2023-02-01 2024-01-31 09969518 c:OrdinaryShareClass1 2024-01-31 09969518 c:OrdinaryShareClass2 2023-02-01 2024-01-31 09969518 c:OrdinaryShareClass2 2024-01-31 09969518 c:OrdinaryShareClass3 2023-02-01 2024-01-31 09969518 c:OrdinaryShareClass3 2024-01-31 09969518 c:OrdinaryShareClass4 2023-02-01 2024-01-31 09969518 c:OrdinaryShareClass4 2024-01-31 09969518 c:OrdinaryShareClass5 2023-02-01 2024-01-31 09969518 c:OrdinaryShareClass5 2024-01-31 09969518 c:FRS102 2023-02-01 2024-01-31 09969518 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09969518 c:FullAccounts 2023-02-01 2024-01-31 09969518 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09969518 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-01 2024-01-31 09969518 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-01-31 09969518 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 09969518 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09969518










PORTER DEVELOPMENTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
PORTER DEVELOPMENTS LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8


 
PORTER DEVELOPMENTS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PORTER DEVELOPMENTS LTD
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Porter Developments Ltd for the year ended 31 January 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Porter Developments Ltd in accordance with the terms of our engagement letter dated 24 October 2022Our work has been undertaken solely to prepare for your approval the financial statements of Porter Developments Ltd and state those matters that we have agreed to state to the director of Porter Developments Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Porter Developments Ltd and its director for our work or for this report. 

It is your duty to ensure that Porter Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Porter Developments Ltd. You consider that Porter Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Porter Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



M+A Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
25 October 2024
Page 1

 
PORTER DEVELOPMENTS LTD
REGISTERED NUMBER: 09969518

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,778
614

  
16,778
614

Current assets
  

Debtors: amounts falling due within one year
 5 
183,810
306,372

Cash at bank and in hand
  
27,514
1,302,873

  
211,324
1,609,245

Creditors: amounts falling due within one year
 6 
(25,745)
(103,987)

Net current assets
  
 
 
185,579
 
 
1,505,258

Total assets less current liabilities
  
202,357
1,505,872

Creditors: amounts falling due after more than one year
 7 
(14,134)
(24,145)

Provisions for liabilities
  

Deferred tax
  
(3,200)
(117)

  
 
 
(3,200)
 
 
(117)

Net assets
  
185,023
1,481,610


Capital and reserves
  

Called up share capital 
 8 
25
25

Profit and loss account
  
184,998
1,481,585

  
185,023
1,481,610


Page 2

 
PORTER DEVELOPMENTS LTD
REGISTERED NUMBER: 09969518
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr S C Porter
Director

Date: 25 October 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PORTER DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.  The principal place of trade is Thurton, Norwich.
The company's principal activity is that of construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
PORTER DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
20%
straight line
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Page 5

 
PORTER DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
16,345
21,150
608
38,103


Additions
20,518
-
-
20,518


Disposals
(1,132)
-
-
(1,132)



At 31 January 2024

35,731
21,150
608
57,489



Depreciation


At 1 February 2023
16,217
21,150
122
37,489


Charge for the year on owned assets
4,104
-
122
4,226


Disposals
(1,004)
-
-
(1,004)



At 31 January 2024

19,317
21,150
244
40,711



Net book value



At 31 January 2024
16,414
-
364
16,778



At 31 January 2023
128
-
486
614

Page 6

 
PORTER DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
46,718
46,718

Amounts owed by group undertakings
5,406
-

Other debtors
131,686
259,509

Prepayments and accrued income
-
145

183,810
306,372



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,991
9,991

Trade creditors
1,128
-

Amounts owed to group undertakings
10,000
-

Other taxation and social security
875
90,345

Other creditors
623
936

Accruals and deferred income
3,128
2,715

25,745
103,987



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,134
24,145

14,134
24,145


Page 7

 
PORTER DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5 Ordinary A shares of £1.00 each
5
5
5 Ordinary B shares of £1.00 each
5
5
5 Ordinary C shares of £1.00 each
5
5
5 Ordinary D shares of £1.00 each
5
5
5 Ordinary E shares of £1.00 each
5
5

25

25



9.


Related party transactions

As at 01 February 2023 the company was owed £254,596 by the director. During the year, the company advanced £127,331 to the director and he introduced £255,312 to the company. The balance due to the company from the director as at 31 January 2024 was £126,615. This loan is included in other debtors note 5 to the financial statements. The loan is repayable on demand. Interest was charged at a rate of 2.25% on the overdrawn balances totalling £5,352.


10.


Controlling party

The company is a wholly owned subsidiary of Thurton Holdings Ltd, a company registered in England, which is under the ultimate control of the director, by virtue of their controlling shareholding. The address of the registered office is 7 The Close, Norwich, NR1 4DJ.

 
Page 8