Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 00574969 Mrs J P Porter Mr P H Porter Mrs J P Porter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00574969 2023-04-30 00574969 2024-04-30 00574969 2023-05-01 2024-04-30 00574969 frs-core:CurrentFinancialInstruments 2024-04-30 00574969 frs-core:ComputerEquipment 2024-04-30 00574969 frs-core:ComputerEquipment 2023-05-01 2024-04-30 00574969 frs-core:ComputerEquipment 2023-04-30 00574969 frs-core:FurnitureFittings 2024-04-30 00574969 frs-core:FurnitureFittings 2023-05-01 2024-04-30 00574969 frs-core:FurnitureFittings 2023-04-30 00574969 frs-core:OtherReservesSubtotal 2024-04-30 00574969 frs-core:ShareCapital 2024-04-30 00574969 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 00574969 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00574969 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 00574969 frs-bus:SmallEntities 2023-05-01 2024-04-30 00574969 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00574969 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 00574969 frs-bus:OrdinaryShareClass1 2023-05-01 2024-04-30 00574969 frs-bus:OrdinaryShareClass1 2024-04-30 00574969 frs-core:ListedExchangeTraded 2024-04-30 00574969 frs-core:ListedExchangeTraded 2023-04-30 00574969 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-04-30 00574969 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-04-30 00574969 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-04-30 00574969 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-04-30 00574969 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-04-30 00574969 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-04-30 00574969 frs-bus:Director1 2023-05-01 2024-04-30 00574969 frs-bus:Director2 2023-05-01 2024-04-30 00574969 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 00574969 frs-countries:EnglandWales 2023-05-01 2024-04-30 00574969 2022-04-30 00574969 2023-04-30 00574969 2022-05-01 2023-04-30 00574969 frs-core:CurrentFinancialInstruments 2023-04-30 00574969 frs-core:OtherReservesSubtotal 2023-04-30 00574969 frs-core:ShareCapital 2023-04-30 00574969 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 00574969 frs-bus:OrdinaryShareClass1 2022-05-01 2023-04-30
Registered number: 00574969
Porter Industries Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00574969
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 764 956
Investment Properties 5 976,638 976,638
Investments 6 217,975 215,547
1,195,377 1,193,141
CURRENT ASSETS
Debtors 7 3,783 4,689
Cash at bank and in hand 42,743 33,142
46,526 37,831
Creditors: Amounts Falling Due Within One Year 8 (193,506 ) (203,831 )
NET CURRENT ASSETS (LIABILITIES) (146,980 ) (166,000 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,048,397 1,027,141
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,764 ) (25,686 )
NET ASSETS 1,013,633 1,001,455
CAPITAL AND RESERVES
Called up share capital 9 15,752 15,752
Revaluation reserve 104,626 109,837
Profit and Loss Account 893,255 875,866
SHAREHOLDERS' FUNDS 1,013,633 1,001,455
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P H Porter
Director
28 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Porter Industries Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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 probisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rental income
Rental income from operating leases net of any incentives given to the lessees is recognised on a straight-line basis over the lease term.
Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 
Fixtures & Fittings - 20% on reducing balance
Computer Equipment - 25% on cost
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
The investment properties were valued as at 30 April 2024 at a fair value of £976,638. The valuations were undertaken on 30 April 2024 by the directors.
2.5. 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 assesments 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.
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2.6. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.7. Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 20,552 2,242 22,794
As at 30 April 2024 20,552 2,242 22,794
Depreciation
As at 1 May 2023 19,596 2,242 21,838
Provided during the period 192 - 192
As at 30 April 2024 19,788 2,242 22,030
Net Book Value
As at 30 April 2024 764 - 764
As at 1 May 2023 956 - 956
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 976,638
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 843,330 843,330
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6. Investments
Listed
£
Cost
As at 1 May 2023 215,547
Additions 3
Revaluations 2,425
As at 30 April 2024 217,975
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 217,975
As at 1 May 2023 215,547
The historical cost of the listed investments as at 30 April 2024 was £211,893 (2023 - £213,333).
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 200 567
Prepayments and accrued income 3,573 4,108
Other debtors 10 14
3,783 4,689
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 75 72
Corporation tax 5,773 6,564
Other creditors 185,019 185,019
Accruals and deferred income 1,968 1,656
Directors' loan accounts 671 10,520
193,506 203,831
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
15,752 Ordinary Shares of £ 1.00 each 15,752 15,752
Page 5