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COMPANY REGISTRATION NUMBER: 3613269
PORT ASSOCIATES LIMITED
Filleted Unaudited Financial Statements
31 August 2024
PORT ASSOCIATES LIMITED
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
30,038
40,174
Current assets
Debtors
7
14,582
23,234
Cash at bank and in hand
104,286
81,685
---------
---------
118,868
104,919
Creditors: amounts falling due within one year
8
97,817
91,467
---------
---------
Net current assets
21,051
13,452
--------
--------
Total assets less current liabilities
51,089
53,626
Provisions
7,509
10,043
--------
--------
Net assets
43,580
43,583
--------
--------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
10
43,480
43,483
--------
--------
Shareholders funds
43,580
43,583
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PORT ASSOCIATES LIMITED
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 25 May 2025 , and are signed on behalf of the board by:
L A Port
Director
Company registration number: 3613269
PORT ASSOCIATES LIMITED
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 39 St James Road, Little Paxton, Cambridgeshire, PE19 6QW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Accounting convention
The accounts have been prepared under the historical cost convention and in compliance with the provisions of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 (SI2008/409) and Financial Reporting Standard 102 Section 1A.
(b) Turnover
Turnover represents fees earned for services provided during the year and is stated net of Value Added Tax.
(c) Tangible fixed assets and depreciation
Fixed assets are stated at cost less a provision for accumulated depreciation. Depreciation is provided at the following annual rates in order to write each asset down to its residual value over its estimated useful life: Office equipment - 33% on reducing balance Furniture and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tax on profit
2024
2023
£
£
Charge to corporation tax on the profit for the year @ 22.8% (2023 – 20.5%)
23,148
19,502
(Credit)/charge to deferred taxation @ 25% (2023 – 25%)
(2,534)
9,728
--------
--------
20,614
29,230
--------
--------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 September 2023 and 31 August 2024
1,328
52,090
15,785
69,203
-------
--------
--------
--------
Depreciation
At 1 September 2023
1,328
13,022
14,679
29,029
Charge for the year
9,767
369
10,136
-------
--------
--------
--------
At 31 August 2024
1,328
22,789
15,048
39,165
-------
--------
--------
--------
Carrying amount
At 31 August 2024
29,301
737
30,038
-------
--------
--------
--------
At 31 August 2023
39,068
1,106
40,174
-------
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
5,192
17,750
Other debtors
9,390
5,484
--------
--------
14,582
23,234
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
23,148
19,502
Social security and other taxes
10,867
15,212
Director’s current account ( L A Port)
47,513
45,395
Other creditors
16,289
11,358
--------
--------
97,817
91,467
--------
--------
9. Called up share capital
2024
2023
£
£
Authorised: 100 ordinary shares of £1 each
100
100
Allotted, called up and fully paid: 100 ordinary shares of £1 each
100
100
10. Reserves
2024 2023
£ £
Accumulated profits brought forward 43,483 19,762
Profit for the financial year 69,997 103,721
Dividends paid in the year (70,000) (80,000)
-------- ---------
Accumulated profits carried forward 43,480 43,483
-------- ---------