Accounts filed on 31-08-2022


Registered number: 08128572






Porter & Daughter Limited


ACCOUNTS

FOR THE YEAR ENDED 31/08/2022
























Prepared By:
Montague Kaye
Accountants and Registered Auditors
82 Reddish Road
Reddish
Stockport
Cheshire
SK5 7QU


ACCOUNTS
FOR THE YEAR ENDED 31/08/2022





DIRECTORS
Mr N Porter


REGISTERED OFFICE
82 Reddish Road
Reddish
Stockport
SK5 7QU


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 08128572



ACCOUNTANTS
Montague Kaye
Accountants and Registered Auditors
82 Reddish Road
Reddish
Stockport
Cheshire
SK5 7QU


BALANCE SHEET AT 31/08/2022

			2022		2021
	Notes		£		£

FIXED ASSETS
Tangible assets	3		3,205,208		3,202,570

CURRENT ASSETS
Stock		1,963,001		1,412,522
Debtors	6	271,577		203,799
Cash at bank and in hand		25,223		18,739
		2,259,801		1,635,060
CREDITORS: Amounts falling due within one year	7	1,877,077		1,702,553
NET CURRENT ASSETS / (LIABILITIES)			382,724		(67,493)
TOTAL ASSETS LESS CURRENT LIABILITIES			3,587,932		3,135,077


CREDITORS: Amounts falling due after more than one year	8		3,193,643		2,845,296


PROVISIONS FOR LIABILITIES AND CHARGES	9		252,082		70,550

NET ASSETS			142,207		219,231

CAPITAL AND RESERVES

Called up share capital	10		100		100
Profit and loss account			142,107		219,131
SHAREHOLDERS' FUNDS			142,207		219,231

For the year ending 31/08/2022 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 17/08/2023 and signed on their behalf by



.............................
Mr N Porter
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Investment Properties

Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

3. TANGIBLE FIXED ASSETS

Cost

At 31/08/2022

Depreciation

At 31/08/2022

Net Book Amounts

At 31/08/2022




4. INVESTMENT PROPERTIES

	Investment
	Properties	Total
	£	£
Fair value
At 01/09/2021	3,202,570	3,202,570
Revaluation	2,638	2,638
At 31/08/2022	3,205,208	3,205,208
The investment properties were revalued at the balance sheet date.
Profit and Loss reserve includes a non-distributable amount of £1,324,102, relating to fair value gains on Investment Property.




6. DEBTORS	2022	2021
	£	£
Amounts falling due within one year
Trade debtors	165,000	165,000
VAT	51,897	-
PAYE control	1,784	-
Salaries and wages control	1,824	2,806
Other debtors	20,114	8,163
Amounts due from related companies	30,958	27,830
	271,577	203,799




7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2022	2021
	£	£
VAT	-	10,353
PAYE control	-	5,501
Directors current account	1,598,436	1,464,401
Bank loans and overdrafts	-	20,931
Bank Loan	10,000	10,000
Loans	-	24,854
Trade creditors	142,997	163,325
Other creditors	122,656	-
Accruals	2,988	3,188
	1,877,077	1,702,553




8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2022	2021
	£	£
Bank loans	33,333	38,333
Loans	3,160,310	2,806,963
	3,193,643	2,845,296

Loans include amounts secured by fixed and floating charges over the property owned by the company, it also includes a negative pledge.




10. SHARE CAPITAL	2022	2021
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100

11. RELATED PARTY TRANSACTIONS

During the current and previous year, the company was under the control of its director and shareholder, Mr N Porter.
As at the balance sheet date the company was owed £30,752 (2021- £27,637) from MYHQ Hub Limited, and £193 from Porter & Daughter Building Company Limited, companies incorporated in the UK, in which Mr Porter also has a controlling interest.