Porter Property Limited Filleted accounts for Companies House (small and micro)
Porter Property Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
NI027107
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Financial Statements |
Year ended 31 March 2021
Contents |
Pages |
Officers and professional advisers |
1 |
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
Statement of financial position |
3 to 4 |
Notes to the financial statements |
5 to 10 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Accountants |
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Chartered Accountants |
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Aisling House |
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50 Stranmillis Embankment |
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Belfast |
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BT9 5FL |
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Bankers |
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62-66 Bow Street |
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Lisburn |
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Co. Antrim |
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BT28 7YS |
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Solicitors |
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2-14 East Bridge Street |
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Belfast |
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BT1 3NQ |
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Murray House |
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Murray Street |
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Belfast |
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BT1 6DN |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 March 2021
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
– |
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Investments |
6 |
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Current assets
Stocks |
– |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Provisions |
(
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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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
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
NI027107
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Notes to the Financial Statements |
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 30 Lady Wallace Lane, Lisburn, BT28 3WT.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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Ground rent |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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 & Machinery |
- |
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Motor Vehicles |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
Stocks
Provisions
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 equity.
4.
Intangible assets
Goodwill |
Ground rents |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2020 |
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Additions |
– |
– |
– |
Disposals |
(
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(
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(
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------- |
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-------- |
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At 31 March 2021 |
– |
– |
– |
------- |
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-------- |
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Amortisation |
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At 1 April 2020 |
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Charge for the year |
– |
– |
– |
Disposals |
(
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(
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(
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------- |
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-------- |
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At 31 March 2021 |
– |
– |
– |
------- |
------- |
-------- |
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Carrying amount |
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At 31 March 2021 |
– |
– |
– |
------- |
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At 31 March 2020 |
– |
– |
– |
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5.
Tangible assets
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2020 |
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Disposals |
(
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(
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(
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At 31 March 2021 |
– |
– |
– |
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Depreciation |
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At 1 April 2020 |
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Disposals |
(
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(
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(
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At 31 March 2021 |
– |
– |
– |
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Carrying amount |
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At 31 March 2021 |
– |
– |
– |
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At 31 March 2020 |
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Tangible assets held at valuation
6.
Investments
Shares in participating interests |
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£ |
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Cost |
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At 1 April 2020 and 31 March 2021 |
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Impairment |
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At 1 April 2020 and 31 March 2021 |
– |
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Carrying amount |
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At 31 March 2021 |
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---- |
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At 31 March 2020 |
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7.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
– |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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The bank overdrafts and loans are secured by fixed and floating charges over the property and lands held by the company.
9.
Related party transactions