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REGISTERED NUMBER: 06020010 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PORRIFIN LIMITED

PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PORRIFIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: M Fining





REGISTERED OFFICE: Elmwood House
York Road
Kirk Hammerton
York
North Yorkshire
YO26 8DH





REGISTERED NUMBER: 06020010 (England and Wales)





ACCOUNTANTS: Positive Accountants
Elmwood House
York Road
Kirk Hammerton
York
North Yorkshire
YO26 8DH

PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 5,196 5,824
Investment property 4 2,250,000 1,443,067
2,255,196 1,448,891

CURRENT ASSETS
Debtors 5 2,976 -
Cash at bank 9,010 2,402
11,986 2,402
CREDITORS
Amounts falling due within one year 6 716,797 688,905
NET CURRENT LIABILITIES (704,811 ) (686,503 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,550,385

762,388

CREDITORS
Amounts falling due after more than one
year

7

(667,119

)

(680,168

)

PROVISIONS FOR LIABILITIES (201,500 ) -
NET ASSETS 681,766 82,220

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 681,764 82,218
SHAREHOLDERS' FUNDS 681,766 82,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2025 and were signed by:





M Fining - Director


PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 23,831
Additions 620
At 31 December 2024 24,451
DEPRECIATION
At 1 January 2024 18,007
Charge for year 1,248
At 31 December 2024 19,255
NET BOOK VALUE
At 31 December 2024 5,196
At 31 December 2023 5,824

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,443,067
Additions 940
Revaluations 805,993
At 31 December 2024 2,250,000
NET BOOK VALUE
At 31 December 2024 2,250,000
At 31 December 2023 1,443,067

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2024 805,993
Cost 1,444,007
2,250,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,976 -

PORRIFIN LIMITED (REGISTERED NUMBER: 06020010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,000 13,142
Taxation and social security - 16,974
Other creditors 703,797 658,789
716,797 688,905

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 667,119 680,168

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 183,946 199,155

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 680,119 693,310

9. RELATED PARTY DISCLOSURES

At the year end the company owed the director Mr M Fining £174,973 (2015 £221,314)