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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 |
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A & L PORTER LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 |
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FOR |
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A & L PORTER LIMITED |
A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A & L PORTER LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1st Floor, 5 Abercrombie Crt |
Prospect Road, |
Westhill |
Aberdeenshire |
Grampian |
AB32 6FE |
A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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BALANCE SHEET |
31 AUGUST 2021 |
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31.8.21 | 31.8.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Share premium | 13 |
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Retained earnings | 13 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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BALANCE SHEET - continued |
31 AUGUST 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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1. | STATUTORY INFORMATION |
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A & L Porter Limited is a
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2. | ACCOUNTING POLICIES |
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Going concern |
Although the company is technically insolvent it is being supported by the Directors. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of businesses in 2006, 2010, 2012, 2014 and 2016. Amortisation is over 20 years straight line. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2020 |
and 31 August 2021 |
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AMORTISATION |
At 1 September 2020 |
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Amortisation for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 September 2020 |
and 31 August 2021 |
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DEPRECIATION |
At 1 September 2020 |
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Charge for year |
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At 31 August 2021 |
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NET BOOK VALUE |
At 31 August 2021 |
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At 31 August 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Tax |
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VAT |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Other loans (see note 9) |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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HMRC EBT Account | 154,729 | 268,831 |
Social security and other taxes |
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Other creditors |
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Directors' loan accounts | 1,531,195 | 2,192,753 |
Accruals and deferred income |
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A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.8.21 | 31.8.20 |
£ | £ |
Bank loans (see note 9) |
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Hire purchase contracts |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.8.21 | 31.8.20 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Bank Loan | 600,000 | - |
Other loans |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.8.21 | 31.8.20 |
£ | £ |
Bank loans |
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On the 28th April 2016 a floating charge was created in favour of Bank of Scotland Plc over all property and sums due or to become due. |
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11. | PROVISIONS FOR LIABILITIES |
31.8.21 | 31.8.20 |
£ | £ |
Deferred tax | 71,611 | 45,332 |
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Deferred |
tax |
£ |
Balance at 1 September 2020 |
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Accelerated capital allowances | 26,279 |
Balance at 31 August 2021 |
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A & L PORTER LIMITED (REGISTERED NUMBER: SC299895) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.21 | 31.8.20 |
value: | £ | £ |
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Ordinary | 1 | 100 | 100 |
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13. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 September 2020 | ( |
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(2,430,721 | ) |
Profit for the year |
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At 31 August 2021 | ( |
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(1,680,785 | ) |