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REGISTERED NUMBER: 01752043 (England and Wales)















PORTMAN FURNITURES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 8

PORTMAN FURNITURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S T Mosley-Dignan
A J Dignan
J A Dignan





REGISTERED OFFICE: 191 Wakefield Road
Scissett
HUDDERSFIELD
HD8 9JL





REGISTERED NUMBER: 01752043 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 474,389 454,178

CURRENT ASSETS
Inventories 5 154,990 240,445
Debtors 6 32,056 23,096
Cash at bank and in hand 217,241 260,257
404,287 523,798
CREDITORS
Amounts falling due within one year 7 190,440 243,676
NET CURRENT ASSETS 213,847 280,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,236

734,300

CREDITORS
Amounts falling due after more than one
year

8

18,283

22,093
NET ASSETS 669,953 712,207

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 669,853 712,107
SHAREHOLDERS' FUNDS 669,953 712,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 11 May 2025 and were signed on its behalf by:




S T Mosley-Dignan - Director A J Dignan - Director




J A Dignan - Director


PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Portman Furnitures 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.

2. 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.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Motor Vehicles - 25% on cost
Computer & Office Equipmt - 33% on cost

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

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 statement of financial position date.

Deferred tax
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 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.

PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property Machinery
£    £    £   
COST
At 1 October 2023 585,116 72,044 51,886
Additions - - -
Disposals - (72,044 ) (51,886 )
At 30 September 2024 585,116 - -
DEPRECIATION
At 1 October 2023 144,482 72,044 51,886
Charge for year 11,703 - -
Eliminated on disposal - (72,044 ) (51,886 )
At 30 September 2024 156,185 - -
NET BOOK VALUE
At 30 September 2024 428,931 - -
At 30 September 2023 440,634 - -

PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures Computer
and Motor & Office
Fittings Vehicles Equipmt Totals
£    £    £    £   
COST
At 1 October 2023 57,845 107,468 - 874,359
Additions - 35,390 482 35,872
Disposals (57,845 ) (80,380 ) - (262,155 )
At 30 September 2024 - 62,478 482 648,076
DEPRECIATION
At 1 October 2023 57,845 93,924 - 420,181
Charge for year - 3,859 99 15,661
Eliminated on disposal (57,845 ) (80,380 ) - (262,155 )
At 30 September 2024 - 17,403 99 173,687
NET BOOK VALUE
At 30 September 2024 - 45,075 383 474,389
At 30 September 2023 - 13,544 - 454,178

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Vehicles
£   
COST
Additions 35,390
Transfer to ownership 27,088
At 30 September 2024 62,478
DEPRECIATION
Charge for year 3,859
Transfer to ownership 13,544
At 30 September 2024 17,403
NET BOOK VALUE
At 30 September 2024 45,075

5. INVENTORIES
2024 2023
£    £   
Stocks 154,990 240,445

PORTMAN FURNITURES LIMITED (REGISTERED NUMBER: 01752043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - (326 )
Other debtors 32,056 23,422
32,056 23,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,851 17,776
Hire purchase contracts 22,105 9,631
Trade creditors 104,646 147,223
Taxation and social security 41,996 46,998
Other creditors 9,842 22,048
190,440 243,676

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 12,665
Hire purchase contracts 18,283 9,428
18,283 22,093

9. CALLED UP SHARE CAPITAL

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

PORTMAN FURNITURES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
PORTMAN FURNITURES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


11 May 2025