Company Registration No. 09532653 (England and Wales)
PORTERS MANAGEMENT CO LIMITED
Unaudited accounts
for the year ended 30 April 2021
PORTERS MANAGEMENT CO LIMITED
Unaudited accounts
Contents
PORTERS MANAGEMENT CO LIMITED
Company Information
for the year ended 30 April 2021
Director
Mr. Joseph David Collis
Company Number
09532653 (England and Wales)
Registered Office
12E MANOR ROAD
LONDON
N16 5SA
ENGLAND
Accountants
Brian G. Lonis & Co Ltd
Accountants & Business Consultants
12E Manor Road
London
N16 5SA
PORTERS MANAGEMENT CO LIMITED
Statement of financial position
as at 30 April 2021
Tangible assets
3,553
1,900
Cash at bank and in hand
55,323
41,657
Creditors: amounts falling due within one year
(89,552)
(114,670)
Net current assets
48,629
15,165
Total assets less current liabilities
52,182
17,065
Creditors: amounts falling due after more than one year
(50,000)
-
Called up share capital
100
100
Profit and loss account
2,082
16,965
Shareholders' funds
2,182
17,065
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2022 and were signed on its behalf by
Mr. Joseph David Collis
Director
Company Registration No. 09532653
PORTERS MANAGEMENT CO LIMITED
Notes to the Accounts
for the year ended 30 April 2021
PORTERS MANAGEMENT CO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09532653. The registered office is 12E MANOR ROAD, LONDON, N16 5SA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Bal Method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PORTERS MANAGEMENT CO LIMITED
Notes to the Accounts
for the year ended 30 April 2021
4
Tangible fixed assets
Fixtures & fittings
5
Debtors: amounts falling due within one year
2021
2020
Other debtors
78,538
78,538
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
15,467
14,262
Amounts owed to group undertakings and other participating interests
12,360
12,360
Taxes and social security
24,195
19,948
Loans from directors
8,683
43,652
7
Creditors: amounts falling due after more than one year
2021
2020
8
Transactions with related parties
At the balance sheet date, where the director held controlling interest, the company owed the director £8,682 and owed to Honest Politician Ltd £12,360.
The company's ultimate controlling party is Mr. Michael Rickard Anthony Hughes by virtue of his ownership of the majority of the issued share capital in the company.
10
Average number of employees
During the year the average number of employees was 23 (2020: 21).
