1 August 2022 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP114536862022-08-012023-07-31114536862023-07-31114536862022-07-3111453686core:WithinOneYear2023-07-3111453686core:WithinOneYear2022-07-3111453686core:AfterOneYear2023-07-3111453686core:AfterOneYear2022-07-3111453686core:ShareCapital2023-07-3111453686core:ShareCapital2022-07-3111453686core:OtherReservesSubtotal2023-07-3111453686core:OtherReservesSubtotal2022-07-3111453686core:RetainedEarningsAccumulatedLosses2023-07-3111453686core:RetainedEarningsAccumulatedLosses2022-07-3111453686bus:Director12022-08-012023-07-3111453686bus:RegisteredOffice2022-08-012023-07-31114536862021-08-012022-07-3111453686core:CostValuation2022-08-0111453686core:AdditionsToInvestments2023-07-3111453686core:DisposalsRepaymentsInvestments2023-07-3111453686core:RevaluationsIncreaseDecreaseInInvestments2023-07-3111453686core:CostValuation2023-07-311145368612022-08-012023-07-3111453686countries:EnglandWales2022-08-012023-07-3111453686bus:AuditExemptWithAccountantsReport2022-08-012023-07-3111453686bus:PrivateLimitedCompanyLtd2022-08-012023-07-3111453686bus:SmallEntities2022-08-012023-07-3111453686bus:FullAccounts2022-08-012023-07-31
Company registration number:
11453686
Portbella Limited
Unaudited Filleted Financial Statements for the year ended
31 July 2023
Portbella Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Portbella Limited
Year ended
31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Portbella Limited
for the year ended
31 July 2023
which comprise the income statement, statement of total comprehensive income, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Portbella Limited
, as a body, in accordance with the terms of my engagement letter dated 1 October 2019. My work has been undertaken solely to prepare for your approval the
financial statements
of
Portbella Limited
and state those matters that I have agreed to state to the Board of Directors of
Portbella Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Portbella Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Portbella Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Portbella Limited
. You consider that
Portbella Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Portbella Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Gordon & Co
Chartered Accountants and Business Advisors
37A Anchor Road
Aldridge
Walsall
West Midlands
WS9 8PT
United Kingdom
Date:
30 July 2024
Portbella Limited
Statement of Financial Position
31 July 2023
20232022
Note££
Fixed assets    
Investments 5
3,585,000
 
3,610,000
 
Current assets    
Cash at bank and in hand
282,679
 
258,168
 
Creditors: amounts falling due within one year 6
(253,249
)
(280,752
)
Net current assets/(liabilities)
29,430
 
(22,584
)
Total assets less current liabilities 3,614,430   3,587,416  
Creditors: amounts falling due after more than one year 7
(2,310,247
)
(2,310,247
)
Net assets
1,304,183
 
1,277,169
 
Capital and reserves    
Called up share capital
1
 
1
 
Other reserves
1,168,512
 
1,120,392
 
Profit and loss account
135,670
 
156,776
 
Shareholders funds
1,304,183
 
1,277,169
 
For the year ending
31 July 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • 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;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
Golam Kader
Director
Company registration number:
11453686
Portbella Limited
Notes to the Financial Statements
Year ended
31 July 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1160 Coventry Road
,
Yardley
,
Birmingham
,
West Midlands
,
B25 8DA
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022:
1.00
).

5 Investments

Other investments other than loans
£
Cost or valuation  
At
1 August 2022
3,610,000
 
Additions
205,140
 
Disposals
(278,260
)
Revaluations
48,120
 
At
31 July 2023
3,585,000
 
Impairment  
At
1 August 2022
and
31 July 2023
-  
Carrying amount  
At
31 July 2023
3,585,000
 
At 31 July 2022
3,610,000
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20232022
Other investments other than loansOther investments other than loans
££
Aggregate historical cost 2,489,608   2,489,608  
Carrying amount 2,489,608   2,489,608  

6 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
19,665
 
12,155
 
Other creditors
233,584
 
268,597
 
253,249
 
280,752
 

7 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
2,310,247
 
2,310,247