Registered number
09802144
Portland & Co (UK) Ltd
Filleted Accounts
30 September 2024
Portland & Co (UK) Ltd
Registered number: 09802144
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,207 18,152
Current assets
Stocks 3,893 3,893
Debtors 4 76,471 88,471
Cash at bank and in hand 32,190 45,165
112,554 137,529
Creditors: amounts falling due within one year 5 (28,974) (28,089)
Net current assets 83,580 109,440
Net assets 97,787 127,592
Capital and reserves
Called up share capital 30 30
Profit and loss account 97,757 127,562
Shareholders' funds 97,787 127,592
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Durbin
Director
Approved by the board on 17 March 2025
Portland & Co (UK) Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 33% reducing balance
Motor vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 34,404 18,990 53,394
Additions 2,761 1 2,762
At 30 September 2024 37,165 18,991 56,156
Depreciation
At 1 October 2023 22,261 12,981 35,242
Charge for the year 5,204 1,503 6,707
At 30 September 2024 27,465 14,484 41,949
Net book value
At 30 September 2024 9,700 4,507 14,207
At 30 September 2023 12,143 6,009 18,152
4 Debtors 2024 2023
£ £
Other debtors 76,471 88,471
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 25,553 26,618
Other creditors 3,421 1,471
28,974 28,089
6 Other information
Portland & Co (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Holly House Farm
8 Main Street
Sutton-On-Trent
Newark
NG23 6PF
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