2024-04-012025-03-312025-03-31false14770601PORTKEY EQ 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PORTKEY EQ LIMITED

(formerly PORTKEY EQUINE LIMITED)

Registered Number
14770601
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

PORTKEY EQ LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

E L Heaton
J M Heaton
J K Heaton
K D Heaton

Registered Address

C/O Heaton Vences Limited, No.159, Field Maple Barns,
Weston Green Road, Weston Longville
Norwich
NR9 5LA

Registered Number

14770601 (England and Wales)
PORTKEY EQ LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets349,79283,011
49,79283,011
Current assets
Stocks410,7503,614
Debtors54,2203,397
Cash at bank and on hand1,266636
16,2367,647
Creditors amounts falling due within one year6(41,954)(71,985)
Net current assets (liabilities)(25,718)(64,338)
Total assets less current liabilities24,07418,673
Creditors amounts falling due after one year7(34,815)(28,512)
Net assets(10,741)(9,839)
Capital and reserves
Called up share capital100-
Profit and loss account(10,841)(9,839)
Shareholders' funds(10,741)(9,839)
The financial statements were approved and authorised for issue by the Board of Directors on 4 June 2025, and are signed on its behalf by:
E L Heaton
Director
Registered Company No. 14770601
PORTKEY EQ LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2487,428
Additions1,581
Disposals(27,411)
At 31 March 2561,598
Depreciation and impairment
At 01 April 244,417
Charge for year10,130
On disposals(2,741)
At 31 March 2511,806
Net book value
At 31 March 2549,792
At 31 March 2483,011
4.Stocks

2025

2024

££
Other stocks10,7503,614
Total10,7503,614
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables3,7752,400
Other debtors22-
Prepayments and accrued income423997
Total4,2203,397
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables222,548
Bank borrowings and overdrafts41,68769,437
Accrued liabilities and deferred income245-
Total41,95471,985
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts34,81528,512
Total34,81528,512