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
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
Portal Dingwall & Norris Limited
Statement of financial position
as at 31 May 2024
Intangible assets
55,813
18,313
Cash at bank and in hand
38,344
5,602
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
Called up share capital
90
60
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
Portal Dingwall & Norris Limited
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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 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.
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.
Portal Dingwall & Norris Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
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
Charge for the year
179
-
26
522
727
At 31 May 2024
179
-
26
522
727
At 31 May 2024
1,083
-
162
4,518
5,763
Amounts falling due within one year
Amounts falling due after more than one year
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
-
Taxes and social security
20,530
13,383
Other creditors
122,666
78
Loans from directors
57,426
69,901
8
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loans
69,901
-
12,475
57,426
10
Average number of employees
During the year the average number of employees was 7 (2023: 2).