Portward Homes Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05740192

Portward Homes Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Portward Homes Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		705,836		370,714

Current assets

Stocks		3,706,525	3,513,460
Debtors	7	134,310	29,618
Cash at bank and in hand		438,761	100,275
		-------------	-------------
		4,279,596	3,643,353

Creditors: amounts falling due within one year	8	( 2,888,640)		( 2,377,899)
		-------------		-------------
Net current assets			1,390,956		1,265,454
			-------------		-------------
Total assets less current liabilities			2,096,792		1,636,168

Creditors: amounts falling due after more than one year	9		( 354,298)		( 321,192)

Provisions

Taxation including deferred tax	( 100,712)	( 42,979)
	-------------	-------------
Net assets	1,641,782	1,271,997
	-------------	-------------

Portward Homes Ltd

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,641,682	1,271,897
	-------------	-------------
Shareholders funds	1,641,782	1,271,997
	-------------	-------------

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 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 June 2026 , and are signed on behalf of the board by:

Mr R A Lunn
Director

Company registration number: 05740192

Portward Homes Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Priory Farm, Leys Lane, Hampole, Doncaster, DN6 7ES.

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) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

(c) Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

(d) Current tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance

(g) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(h) Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

(i) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

(j) Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to entity.

(k) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Secured creditors

Obligations under finance leases are secured on the associated assets.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 9 ).

6. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	93,000	627,113	72,000	792,113
Additions	–	404,000	–	404,000
	--------	-------------	--------	-------------
At 31 March 2025	93,000	1,031,113	72,000	1,196,113
	--------	-------------	--------	-------------
Depreciation
At 1 April 2024	–	361,203	60,196	421,399
Charge for the year	–	65,927	2,951	68,878
	--------	-------------	--------	-------------
At 31 March 2025	–	427,130	63,147	490,277
	--------	-------------	--------	-------------
Carrying amount
At 31 March 2025	93,000	603,983	8,853	705,836
	--------	-------------	--------	-------------
At 31 March 2024	93,000	265,910	11,804	370,714
	--------	-------------	--------	-------------

7. Debtors

	2025	2024
	£	£
Other debtors	134,310	29,618
	----------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	32,500	23,500
Trade creditors	1,525	26,907
Accruals and deferred income	11,754	11,419
Corporation tax	200,164	266,024
Social security and other taxes	31,732	20,197
Obligations under finance leases and hire purchase contracts	47,334	9,412
Director loan accounts	819,375	727,284
Other creditors	1,744,256	1,293,156
	-------------	-------------
	2,888,640	2,377,899
	-------------	-------------

Hire purchase and finance lease liabilities totalling £47,334 (2024: £9,412) are secured against the related assets. Bank loans totalling £32,500 (2024: £23,500) are secured against the associated property.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	270,394	308,790
Obligations under finance leases and hire purchase contracts	83,904	12,402
	----------	----------
	354,298	321,192
	----------	----------

Hire purchase and finance lease liabilities totalling £83,904 (2024: £12,402) are secured against the related assets. Bank loans totalling £270,394 (2024: £308,790) are secured against the associated property.

Included within creditors: amounts falling due after more than one year is an amount of £140,394 (2024: £210,790) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Related party transactions

During the year the directors made available loans to the company. The loans are interest free and repayable on demand. At the year end date the balance due to the directors totalled £ 839,575 (2024 - £ 727,284 ).