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Company Registration No. 04397904 (England and Wales)
Portal Dingwall & Norris Limited Unaudited accounts for the year ended 31 May 2024
Portal Dingwall & Norris Limited Unaudited accounts Contents
Page
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Portal Dingwall & Norris Limited Company Information for the year ended 31 May 2024
Directors
Philip Portal Jane Portal
Company Number
04397904 (England and Wales)
Registered Office
48 Main Road Emsworth Hampshire PO10 8AU
Accountants
Paul Wragg FCA 87 Redwing Road Clanfield Waterlooville Hampshire PO8 0LX
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Portal Dingwall & Norris Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
55,813 
18,313 
Tangible assets
5,763 
- 
61,576 
18,313 
Current assets
Inventories
583,142 
- 
Debtors
312,681 
325,360 
Cash at bank and in hand
38,344 
5,602 
934,167 
330,962 
Creditors: amounts falling due within one year
(493,172)
(83,362)
Net current assets
440,995 
247,600 
Total assets less current liabilities
502,571 
265,913 
Creditors: amounts falling due after more than one year
(134,007)
- 
Net assets
368,564 
265,913 
Capital and reserves
Called up share capital
90 
60 
Share premium
43,208 
- 
Profit and loss account
325,266 
265,853 
Shareholders' funds
368,564 
265,913 
For the year ending 31 May 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by
Philip Portal Director Company Registration No. 04397904
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Portal Dingwall & Norris Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Portal Dingwall & Norris Limited is a private company, limited by shares, registered in England and Wales, registration number 04397904. The registered office is 48 Main Road, Emsworth, Hampshire, PO10 8AU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% straight line
Fixtures & fittings
18% straight line
Computer equipment
18% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Portal Dingwall & Norris Limited Notes to the Accounts for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
18,313 
Additions
37,500 
At 31 May 2024
55,813 
Amortisation
At 1 June 2023
- 
At 31 May 2024
- 
Net book value
At 31 May 2024
55,813 
At 31 May 2023
18,313 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
- 
- 
- 
- 
- 
Additions
1,262 
2,584 
188 
5,040 
9,074 
Disposals
- 
(2,584)
- 
- 
(2,584)
At 31 May 2024
1,262 
- 
188 
5,040 
6,490 
Depreciation
Charge for the year
179 
- 
26 
522 
727 
At 31 May 2024
179 
- 
26 
522 
727 
Net book value
At 31 May 2024
1,083 
- 
162 
4,518 
5,763 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
301,066 
- 
Other debtors
11,615 
- 
312,681 
- 
Amounts falling due after more than one year
Other debtors
- 
325,360 
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Portal Dingwall & Norris Limited Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
17,268 
- 
VAT
56,933 
- 
Trade creditors
213,031 
- 
Taxes and social security
20,530 
13,383 
Other creditors
122,666 
78 
Loans from directors
57,426 
69,901 
Accruals
5,318 
- 
493,172 
83,362 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
134,007 
- 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Philip Portal
Directors Loans
69,901 
- 
12,475 
57,426 
69,901 
- 
12,475 
57,426 
10
Average number of employees
During the year the average number of employees was 7 (2023: 2).
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