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REGISTERED NUMBER: 09568952 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PORTBRIDGE ESTATES LTD

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PORTBRIDGE ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C E Josefovitz
M Rothbart





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 09568952 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,667 1,961
Investment property 6 1,760,653 1,760,653
1,762,320 1,762,614

CURRENT ASSETS
Debtors 7 316,997 314,950
Cash at bank 22,052 39,853
339,049 354,803
CREDITORS
Amounts falling due within one year 8 (956,842 ) (964,171 )
NET CURRENT LIABILITIES (617,793 ) (609,368 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,144,527

1,153,246

CREDITORS
Amounts falling due after more than one
year

9

(827,472

)

(854,896

)
NET ASSETS 317,055 298,350

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 13 317,053 298,348
SHAREHOLDERS' FUNDS 317,055 298,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





M Rothbart - Director


PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

PORTBRIDGE ESTATES LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2022
and 30 April 2023 5,199
DEPRECIATION
At 1 May 2022 3,238
Charge for year 294
At 30 April 2023 3,532
NET BOOK VALUE
At 30 April 2023 1,667
At 30 April 2022 1,961

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 1,760,653
NET BOOK VALUE
At 30 April 2023 1,760,653
At 30 April 2022 1,760,653

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 316,997 314,950

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 270 -
Taxation and social security 11,030 18,103
Other creditors 945,542 946,068
956,842 964,171

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans (see note 10) 798,180 821,467
Other creditors 29,292 33,429
827,472 854,896

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.4.23 30.4.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 374,873 374,873

Repayable by instalments
Bank loans more 5 yr by instal 423,307 446,594

Other creditors includes Bounceback loan of £33,429. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

30.4.23 30.4.22
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 29,292 33,429

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 374,873 374,873

Repayable by instalments
Bank loans more 5 yr by instal 423,307 446,594

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 798,180 821,467

Bank loan is secured by a first charge over company's investment properties and bear interest at variable rates.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
2 ORDINARY 1 2 2

PORTBRIDGE ESTATES LTD (REGISTERED NUMBER: 09568952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

13. RESERVES
Retained
earnings
£   

At 1 May 2022 298,348
Profit for the year 18,705
At 30 April 2023 317,053