Company Registration No. 08571531 (England and Wales)
Portia Frances Limited
Unaudited accounts
for the year ended 30 June 2024
Portia Frances Limited
Unaudited accounts
Contents
Portia Frances Limited
Company Information
for the year ended 30 June 2024
Directors
Thomas Haederle
Jiyon Haederle
Company Number
08571531 (England and Wales)
Registered Office
8 Lee Street
London
E8 4DY
England
Portia Frances Limited
Statement of financial position
as at 30 June 2024
Tangible assets
1,488
2,622
Cash at bank and in hand
371
16,083
Creditors: amounts falling due within one year
(26,493)
(17,275)
Net current liabilities
(26,122)
(1,192)
Net (liabilities)/assets
(24,634)
1,430
Called up share capital
100
100
Profit and loss account
(24,734)
1,330
Shareholders' funds
(24,634)
1,430
For the year ending 30 June 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 28 March 2025 and were signed on its behalf by
Jiyon Haederle
Director
Company Registration No. 08571531
Portia Frances Limited
Notes to the Accounts
for the year ended 30 June 2024
Portia Frances Limited is a private company, limited by shares, registered in England and Wales, registration number 08571531. The registered office is 8 Lee Street, London, E8 4DY, England.
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 financial statements have been prepared under the historical cost convention.
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.
For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the defined obligation at that date. The defined benefit obligation is calculated on an annual basis by independent actuaries.
Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other Comprehensive Income. Current and past service costs, along with settlements or curtailments, are charged to the Income Statement. Interest on pension plan liabilities are recognised within finance expense.
The company has taken advantage of the exemption, under the terms of Financial ReportingStandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Licences acquired are initially recognised at cost and are subsequently carried at cost less accumulated amortisation. These costs are amortised to profit or loss using the straight-line method, which is the shorter of their estimated useful lives and periods of contractual rights.
Licences are being amortised evenly over their estimated useful life of three years.
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
Plant and machinery etc - 25% on cost
Portia Frances Limited
Notes to the Accounts
for the year ended 30 June 2024
Taxation for the period 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 statement of financial position date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments 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 period 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
1,987
10,638
12,625
At 30 June 2024
1,987
10,638
12,625
At 1 July 2023
1,848
8,155
10,003
Charge for the year
137
997
1,134
At 30 June 2024
1,985
9,152
11,137
At 30 June 2024
2
1,486
1,488
At 30 June 2023
139
2,483
2,622
Portia Frances Limited
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
25,076
30,833
Taxes and social security
-
1,283
Loans from directors
1,417
(14,205)
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).