Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-3102024-04-01falseNo description of principal activity1824truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08401614 2024-04-01 2025-03-31 08401614 2023-04-01 2024-03-31 08401614 2025-03-31 08401614 2024-03-31 08401614 c:Director1 2024-04-01 2025-03-31 08401614 c:Director2 2024-04-01 2025-03-31 08401614 c:RegisteredOffice 2024-04-01 2025-03-31 08401614 d:Buildings 2024-04-01 2025-03-31 08401614 d:Buildings 2025-03-31 08401614 d:Buildings 2024-03-31 08401614 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:PlantMachinery 2024-04-01 2025-03-31 08401614 d:PlantMachinery 2025-03-31 08401614 d:PlantMachinery 2024-03-31 08401614 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:MotorVehicles 2024-04-01 2025-03-31 08401614 d:MotorVehicles 2025-03-31 08401614 d:MotorVehicles 2024-03-31 08401614 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:FurnitureFittings 2024-04-01 2025-03-31 08401614 d:FurnitureFittings 2025-03-31 08401614 d:FurnitureFittings 2024-03-31 08401614 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:OfficeEquipment 2024-04-01 2025-03-31 08401614 d:OfficeEquipment 2025-03-31 08401614 d:OfficeEquipment 2024-03-31 08401614 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 08401614 d:Goodwill 2024-04-01 2025-03-31 08401614 d:Goodwill 2025-03-31 08401614 d:Goodwill 2024-03-31 08401614 d:FreeholdInvestmentProperty 2024-04-01 2025-03-31 08401614 d:FreeholdInvestmentProperty 2025-03-31 08401614 d:CurrentFinancialInstruments 2025-03-31 08401614 d:CurrentFinancialInstruments 2024-03-31 08401614 d:Non-currentFinancialInstruments 2025-03-31 08401614 d:Non-currentFinancialInstruments 2024-03-31 08401614 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 08401614 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08401614 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 08401614 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08401614 d:ShareCapital 2025-03-31 08401614 d:ShareCapital 2024-03-31 08401614 d:RetainedEarningsAccumulatedLosses 2025-03-31 08401614 d:RetainedEarningsAccumulatedLosses 2024-03-31 08401614 c:FRS102 2024-04-01 2025-03-31 08401614 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 08401614 c:FullAccounts 2024-04-01 2025-03-31 08401614 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08401614 2 2024-04-01 2025-03-31 08401614 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure
Company registration number: 08401614







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025


PORTSMOUTH FIBREGLASS LIMITED






































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PORTSMOUTH FIBREGLASS LIMITED
 


 
COMPANY INFORMATION


Directors
N R Williams 
M K Williams 




Registered number
08401614



Registered office
Unit 3
Marshlands Road

Farlington

Portsmouth

Hampshire

PO6 1ST




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


PORTSMOUTH FIBREGLASS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


PORTSMOUTH FIBREGLASS LIMITED
REGISTERED NUMBER:08401614



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
237,322
232,683

Investment property
 6 
346,503
-

  
583,825
232,683

Current assets
  

Stocks
  
13,500
13,500

Debtors: amounts falling due within one year
 7 
193,519
195,258

Cash at bank and in hand
  
56,657
412,149

  
263,676
620,907

Creditors: amounts falling due within one year
 8 
(160,525)
(149,110)

Net current assets
  
 
 
103,151
 
 
471,797

Total assets less current liabilities
  
686,976
704,480

Creditors: amounts falling due after more than one year
 9 
(3,078)
(13,260)

  

Net assets
  
683,898
691,220

Page 1

 


PORTSMOUTH FIBREGLASS LIMITED
REGISTERED NUMBER:08401614


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

2025
2024
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
683,798
691,120

  
683,898
691,220


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



N R Williams
Director

Date: 4 August 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Portsmouth Fibreglass 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
straight line over 10 years

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or reducing balance method..

Depreciation is provided on the following basis:

Freehold property
-
4%
straight line
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.15

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2024 - 24).

Page 5

 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2024
110,000



At 31 March 2025

110,000



Amortisation


At 1 April 2024
110,000



At 31 March 2025

110,000



Net book value



At 31 March 2025
-



At 31 March 2024
-



Page 6

PORTSMOUTH FIBREGLASS LIMITED
  
 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025



5.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2024
336,190
20,620
19,990
17,780
1,661
396,241


Additions
-
-
28,585
-
241
28,826



At 31 March 2025

336,190
20,620
48,575
17,780
1,902
425,067



Depreciation


At 1 April 2024
120,033
17,001
11,557
13,818
1,149
163,558


Charge for the year on owned assets
13,447
544
9,254
792
150
24,187



At 31 March 2025

133,480
17,545
20,811
14,610
1,299
187,745



Net book value



At 31 March 2025
202,710
3,075
27,764
3,170
603
237,322



At 31 March 2024
216,157
3,619
8,433
3,962
512
232,683

Page 7
 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Investment property


Freehold investment property

£



Valuation


Additions at cost
346,503



At 31 March 2025
346,503

The 2025 valuations were made by the director, on an open market value for existing use basis.




Page 8

 


PORTSMOUTH FIBREGLASS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Debtors

2025
2024
£
£


Trade debtors
71,547
42,866

Other debtors
121,972
152,392

193,519
195,258



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
10,000
11,375

Trade creditors
76,396
56,774

Corporation tax
44,837
69,261

Other taxation and social security
23,122
15,880

Other creditors
1,070
1,670

Accruals and deferred income
5,100
(5,850)

160,525
149,110



9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
3,078
13,260

3,078
13,260


 
Page 9