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REGISTERED NUMBER: 02332895 (England and Wales)


















Portman Air Conditioning Limited

Unaudited Financial Statements

for the Year Ended 31st August 2024






Portman Air Conditioning Limited (Registered number: 02332895)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Portman Air Conditioning Limited

Company Information
for the Year Ended 31st August 2024







DIRECTORS: S Grice
S J Wynne
D A Goacher
W E Sharman





REGISTERED OFFICE: Unit 1, County Business Park
Clarke Road
Nottingham
Notts
NG2 3JJ





REGISTERED NUMBER: 02332895 (England and Wales)





ACCOUNTANTS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

Portman Air Conditioning Limited (Registered number: 02332895)

Balance Sheet
31st August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 89,789 104,932

CURRENT ASSETS
Stocks 90,000 90,000
Debtors 6 209,961 284,302
Cash at bank 506,444 520,427
806,405 894,729
CREDITORS
Amounts falling due within one year 7 (125,881 ) (204,711 )
NET CURRENT ASSETS 680,524 690,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

770,313

794,950

PROVISIONS FOR LIABILITIES (22,447 ) (26,232 )
NET ASSETS 747,866 768,718

CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital redemption reserve 100 100
Retained earnings 747,666 768,518
SHAREHOLDERS' FUNDS 747,866 768,718

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

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

The directors acknowledge their 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.

Portman Air Conditioning Limited (Registered number: 02332895)

Balance Sheet - continued
31st August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th April 2025 and were signed on its behalf by:




S J Wynne - Director



S Grice - Director


Portman Air Conditioning Limited (Registered number: 02332895)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. STATUTORY INFORMATION

Portman Air Conditioning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax, and is derived from the installation and maintenance of air conditioning equipment.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Portman Air Conditioning Limited (Registered number: 02332895)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 15 ).

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st September 2023 596 14,454 134,768 149,818
Additions - 1,711 - 1,711
At 31st August 2024 596 16,165 134,768 151,529
DEPRECIATION
At 1st September 2023 251 8,567 36,068 44,886
Charge for year 149 1,900 14,805 16,854
At 31st August 2024 400 10,467 50,873 61,740
NET BOOK VALUE
At 31st August 2024 196 5,698 83,895 89,789
At 31st August 2023 345 5,887 98,700 104,932

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 195,053 271,961
Other debtors 14,908 12,341
209,961 284,302

Portman Air Conditioning Limited (Registered number: 02332895)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,350 72,499
Taxation and social security 99,804 123,496
Other creditors 10,727 8,716
125,881 204,711

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary 1 50 50
50 A 1 50 50
100 100