REGISTERED NUMBER: 06655392 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Portico Designs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S R Harrison

Ms C Czul

REGISTERED OFFICE:

7-9 North Parade Buildings

Bath

Bath & NE Somerset

BA1 1NS

REGISTERED NUMBER:

06655392 (England and Wales)

FIXED ASSETS

Tangible assets

4

52,914

63,315

CURRENT ASSETS

Stocks

459,476

500,508

Debtors

5

1,393,957

1,157,123

Cash at bank

153,873

623,023

2,007,306

2,280,654

CREDITORS

Amounts falling due within one year

6

1,631,427

1,895,737

NET CURRENT ASSETS

375,879

384,917

TOTAL ASSETS LESS CURRENT LIABILITIES

428,793

448,232

CREDITORS

Amounts falling due after more than one year

7

24,204

44,701

NET ASSETS

404,589

403,531

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

404,489

403,431

SHAREHOLDERS' FUNDS

404,589

403,531

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 29 September 2025 and were signed on its behalf by:

S R Harrison - Director

1.	STATUTORY INFORMATION

Portico Designs 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.

Turnover

Turnover 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.

Motor vehicles

-

10% on cost

Computer equipment

-

33% on straight line basis

Stocks

Stocks 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 balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

3,090

51,990

13,710

68,790

Additions

-

-

967

967

At 31 December 2024

3,090

51,990

14,677

69,757

DEPRECIATION

At 1 January 2024

3,090

1,623

762

5,475

Charge for year

-

6,492

4,876

11,368

At 31 December 2024

3,090

8,115

5,638

16,843

NET BOOK VALUE

At 31 December 2024

-

43,875

9,039

52,914

At 31 December 2023

-

50,367

12,948

63,315

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

672,867

782,663

Amounts owed by group undertakings

336,381

-

Other debtors

341,916

341,916

Tax

12,834

12,834

Prepayments and accrued income

29,959

19,710

1,393,957

1,157,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

323,895

Hire purchase contracts

10,497

10,497

Trade creditors

102,623

8,635

Amounts owed to group undertakings

-

15,863

Social security and other taxes

18,666

18,526

VAT

6,850

8,920

Other creditors

811,018

805,879

Directors' current accounts

320

68,021

Accruals and deferred income

671,453

635,501

1,631,427

1,895,737

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,833

15,833

Hire purchase contracts

18,371

28,868

24,204

44,701

8.	RELATED PARTY DISCLOSURES

Portico Business Services Limited

Portico Business Services Ltd is the parent company of Portico Designs Ltd

During the year, the company made purchases of £107,480 (2023 - £87,480) from Portico Business Services Ltd.

At the year end there is an intercompany loan balance of £336,381 (2023 - £15,863 Creditor) owed by Portico Business Services Ltd.

Included in other creditors is a balance of £320 (2023 - £68,021) that is owed to Mr S R Harrison, a director of the company. This loan is unsecured, interest free and has no set terms for repayment.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S R Harrison.

S R Harrison holds a controlling interest in the issued share capital of the parent company, Portico Business Services Limited.