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REGISTERED NUMBER: 09324612 (England and Wales)

















Financial Statements for the Year Ended 31 October 2023

for

Portland Clinical Limited

Portland Clinical Limited (Registered number: 09324612)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Portland Clinical Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr K D Heppenstall
Mr I A Yuill



REGISTERED OFFICE: 28 Bailey Street
Sheffield
South Yorkshire
S1 4EH



REGISTERED NUMBER: 09324612 (England and Wales)



SENIOR STATUTORY AUDITOR: Jonathon Dickens FCA



AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Portland Clinical Limited (Registered number: 09324612)

Balance Sheet
31 October 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 17,770 11,413

CURRENT ASSETS
Debtors 5 3,700,876 2,793,107
Cash at bank 32,597 131,940
3,733,473 2,925,047
CREDITORS
Amounts falling due within one year 6 2,450,458 2,008,063
NET CURRENT ASSETS 1,283,015 916,984
TOTAL ASSETS LESS CURRENT LIABILITIES 1,300,785 928,397

PROVISIONS FOR LIABILITIES 4,443 2,801
NET ASSETS 1,296,342 925,596

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,296,242 925,496
SHAREHOLDERS' FUNDS 1,296,342 925,596

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 25 July 2024 and were signed on its behalf by:





Mr K D Heppenstall - Director


Portland Clinical Limited (Registered number: 09324612)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Portland Clinical Limited 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.

2. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current 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 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 balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Portland Clinical Limited (Registered number: 09324612)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 14,612
Additions 11,502
At 31 October 2023 26,114
DEPRECIATION
At 1 November 2022 3,199
Charge for year 5,145
At 31 October 2023 8,344
NET BOOK VALUE
At 31 October 2023 17,770
At 31 October 2022 11,413

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 2,741,999 2,015,553
Amounts owed by group undertakings - 734,652
Other debtors 958,877 42,902
3,700,876 2,793,107

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 26,733 14,528
Amounts owed to group undertakings 45,967 1,014,869
Taxation and social security 712,294 428,050
Other creditors 1,665,464 550,616
2,450,458 2,008,063

Included within other creditors is an amount of £1,286,178 (2022: £410,991) relating to invoice discounting advances, these advances are secured by way of first fixed and floating charges over the present and future assets of the company.

Portland Clinical Limited (Registered number: 09324612)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
88 Ordinary A £1 88 76
12 Ordinary B £1 12 24
100 100


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathon Dickens FCA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley

9. RELATED PARTY DISCLOSURES

At the year end, £1,304,261 (2022: £280,217 owed to) was owed from companies under the common control of the director.

10. POST BALANCE SHEET EVENTS

After the year end, Portland Clinical Limited was demerged from Portland Investment Group by capital reduction. The ultimate controlling party remains as Mr M Davison.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M J Davison.

At 31 October 2023 the company's parent company was Portland Clinical Holdings Limited, a company which is incorporated in the UK, which is the parent of both the smallest and largest group in which the results of the company are published. The consolidated accounts of this company are available to the public and may be obtained from Companies House, Cardiff. No other group accounts include the results of the company.