Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 06292060 Ms Amanda Wallwork Mr Michael Osmond Mr David Carter Ms Nancy Grace Mr David Wilkins Mr Anthony Flux Mr Robert Hughes Ms Stella New Mr Thomas Ellis-Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06292060 2023-12-31 06292060 2024-12-31 06292060 2024-01-01 2024-12-31 06292060 frs-core:CurrentFinancialInstruments 2024-12-31 06292060 frs-core:FurnitureFittings 2024-12-31 06292060 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06292060 frs-core:FurnitureFittings 2023-12-31 06292060 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06292060 frs-bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 06292060 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 06292060 frs-bus:SmallEntities 2024-01-01 2024-12-31 06292060 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06292060 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06292060 frs-bus:Director1 2024-01-01 2024-12-31 06292060 frs-bus:Director2 2024-01-01 2024-12-31 06292060 frs-bus:Director3 2024-01-01 2024-12-31 06292060 frs-bus:Director4 2024-01-01 2024-12-31 06292060 frs-bus:Director5 2024-01-01 2024-12-31 06292060 frs-bus:Director6 2024-01-01 2024-12-31 06292060 frs-bus:Director7 2024-01-01 2024-12-31 06292060 frs-bus:Director8 2024-01-01 2024-12-31 06292060 frs-bus:Director9 2024-01-01 2024-12-31 06292060 frs-countries:EnglandWales 2024-01-01 2024-12-31 06292060 2022-12-31 06292060 2023-12-31 06292060 2023-01-01 2023-12-31 06292060 frs-core:CurrentFinancialInstruments 2023-12-31 06292060 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 06292060
Portland Museum Trust
Unaudited Financial Statements
For The Year Ended 31 December 2024
AR Accounting
Chartered Accountant & Tax Adviser
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06292060
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,761 12,755
9,761 12,755
CURRENT ASSETS
Stocks 5 361 875
Debtors 6 5,114 4,979
Cash at bank and in hand 22,096 14,747
27,571 20,601
Creditors: Amounts Falling Due Within One Year 7 (848 ) (876 )
NET CURRENT ASSETS (LIABILITIES) 26,723 19,725
TOTAL ASSETS LESS CURRENT LIABILITIES 36,484 32,480
NET ASSETS 36,484 32,480
Income and Expenditure Account 36,484 32,480
MEMBERS' FUNDS 36,484 32,480
Page 1
Page 2
For the year ending 31 December 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 Income and Expenditure Account.
On behalf of the board
Mr David Carter
Director
Mr Anthony Flux
Director
19/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Portland Museum Trust is a private company, limited by guarantee, incorporated in England & Wales, registered number 06292060 . The registered office is 217 Wakeham, Easton, Portland, Dorset, DT5 1HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on a reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 44,174
Additions 260
As at 31 December 2024 44,434
Depreciation
As at 1 January 2024 31,419
Provided during the period 3,254
As at 31 December 2024 34,673
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2024 9,761
As at 1 January 2024 12,755
5. Stocks
2024 2023
£ £
Finished goods 361 875
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,114 4,979
5,114 4,979
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 61 11
Other taxes and social security 357 -
Accruals and deferred income 430 865
848 876
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 4