Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2falsetrue2truefalse 07913371 2023-02-01 2024-01-31 07913371 2022-02-01 2023-01-31 07913371 2024-01-31 07913371 2023-01-31 07913371 c:Director1 2023-02-01 2024-01-31 07913371 d:FurnitureFittings 2023-02-01 2024-01-31 07913371 d:FurnitureFittings 2024-01-31 07913371 d:FurnitureFittings 2023-01-31 07913371 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07913371 d:CurrentFinancialInstruments 2024-01-31 07913371 d:CurrentFinancialInstruments 2023-01-31 07913371 c:FRS102 2023-02-01 2024-01-31 07913371 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07913371 c:FullAccounts 2023-02-01 2024-01-31 07913371 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07913371 2 2023-02-01 2024-01-31 07913371 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07913371









PORTFOLIO MARKETING COMMUNICATIONS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
REGISTERED NUMBER: 07913371

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2024
2023
2023
£
£
£
£

  

Fixed assets
  

Tangible assets
 4 
334
445

  
334
445

Current assets
  

Debtors: amounts falling due within one year
 5 
17,635
24,806

Cash at bank and in hand
 6 
64,336
62,078

  
81,971
86,884

Creditors: amounts falling due within one year
 7 
(40,283)
(23,850)

Net current assets
  
 
 
41,688
 
 
63,034

  

Net assets
  
42,022
63,479


Capital and reserves
  

Called up share capital 
  
102
102

Profit and loss account
  
41,920
63,377

Total equity
  
42,022
63,479


Page 1

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
REGISTERED NUMBER: 07913371
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 directors acknowledge their 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: 




................................................
R A Bryan
Director

Date: 22 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Portfolio Marketing Communications Limited is a private company limited by shares. The company was incorporated in England & Wales. The registered office is Aston House, Cornwall Avenue, London, N3 1LF.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Dividends

Dividends are recognised when they become legally payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 February 2023
3,564



At 31 January 2024

3,564



Depreciation


At 1 February 2023
3,119


Charge for the year on owned assets
111



At 31 January 2024

3,230



Net book value



At 31 January 2024
334



At 31 January 2023
445


5.


Debtors

2024
2023
£
£


Trade debtors
17,635
24,806


Page 6

 
PORTFOLIO MARKETING COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
64,336
62,078



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
15,714
11,506

Other taxation and social security
9,788
7,898

Other creditors
5,241
446

Accruals and deferred income
9,540
4,000

40,283
23,850



8.


Transactions with directors

At the balance sheet date, an amount of £5,241 was due to the directors (2023: £446 due to). This loan was unsecured, interest free and was repaid shortly after the year end.

 
Page 7