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REGISTERED NUMBER: 09158239 (England and Wales)

















Financial Statements for the Year Ended 31 October 2023

for

The Portland Training Company Limited

The Portland Training Company Limited (Registered number: 09158239)






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


The Portland Training Company Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Miss H A Warren
Mr K D Heppenstall



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



REGISTERED NUMBER: 09158239 (England and Wales)



SENIOR STATUTORY AUDITOR: Jonathon Dickens FCA



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

The Portland Training Company Limited (Registered number: 09158239)

Balance Sheet
31 October 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 39,573 31,085

CURRENT ASSETS
Debtors 5 1,275,169 970,677
Cash at bank 55,034 249,029
1,330,203 1,219,706
CREDITORS
Amounts falling due within one year 6 705,504 428,144
NET CURRENT ASSETS 624,699 791,562
TOTAL ASSETS LESS CURRENT LIABILITIES 664,272 822,647

PROVISIONS FOR LIABILITIES 8 9,893 7,577
NET ASSETS 654,379 815,070

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 654,279 814,970
SHAREHOLDERS' FUNDS 654,379 815,070

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 26 July 2024 and were signed on its behalf by:





Miss H A Warren - Director


The Portland Training Company Limited (Registered number: 09158239)

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

1. STATUTORY INFORMATION

The Portland Training Company 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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion, where this can be estimated reliably. The stage of completion is calculated by comparing related costs incurred as a proportion of total related costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

The Portland Training Company Limited (Registered number: 09158239)

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

2. ACCOUNTING POLICIES - continued

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.

Going concern
Management have prepared financial forecasts on a consolidated basis for a period covering at least 12 months from the date of signature of these financial statements.

Accordingly, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have concluded that it is appropriate to prepare these financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 40 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 121,424
Additions 25,089
At 31 October 2023 146,513
DEPRECIATION
At 1 November 2022 90,339
Charge for year 16,601
At 31 October 2023 106,940
NET BOOK VALUE
At 31 October 2023 39,573
At 31 October 2022 31,085

The Portland Training Company Limited (Registered number: 09158239)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 711,447 851,658
Other debtors 563,722 119,019
1,275,169 970,677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 134,399 110,685
Amounts owed to group undertakings - 68
Taxation and social security 216,764 136,609
Other creditors 354,341 180,782
705,504 428,144

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 53,809 53,419
Between one and five years 40,388 71,059
94,197 124,478

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 9,893 7,577

Deferred tax
£
Balance at 1 November 2022 7,577
Provided during year 2,316
Balance at 31 October 2023 9,893

The Portland Training Company Limited (Registered number: 09158239)

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

9. CALLED UP SHARE CAPITAL

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

10. 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

11. OTHER FINANCIAL COMMITMENTS

There is a floating charge over all assets of the company, and also an intercompany guarantee over all companies in the group.

12. RELATED PARTY DISCLOSURES

At the year end £422,624 (2022: £85) was owed by companies under the common control of Mr M Davison.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Davison.

At 31 October 2023 the company's parent company was The Portland Training Company 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.