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REGISTERED NUMBER: 01407671 (England and Wales)






Portland House Investment Group Limited

Financial Statements

for the Year Ended 30 March 2024






Portland House Investment Group Limited (Registered number: 01407671)

Contents of the Financial Statements
for the year ended 30 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Portland House Investment Group Limited

Company Information
for the year ended 30 March 2024







DIRECTORS: Mr C B Appleyard
Mr R G Appleyard





SECRETARY: Mr C B Appleyard





REGISTERED OFFICE: Matrix House
Goodman Street
Leeds
West Yorkshire
LS10 1NY





REGISTERED NUMBER: 01407671 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Portland House Investment Group Limited (Registered number: 01407671)

Balance Sheet
30 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 922 1,572
Investments 5 2 3
Investment property 6 350,000 350,000
350,924 351,575

CURRENT ASSETS
Debtors 7 6,272 10,785
Cash at bank 89,010 87,179
95,282 97,964
CREDITORS
Amounts falling due within one year 8 35,072 78,348
NET CURRENT ASSETS 60,210 19,616
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,134

371,191

PROVISIONS FOR LIABILITIES 175 299
NET ASSETS 410,959 370,892

Portland House Investment Group Limited (Registered number: 01407671)

Balance Sheet - continued
30 March 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 410,859 370,792
SHAREHOLDERS' FUNDS 410,959 370,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 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.

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 9 October 2024 and were signed on its behalf by:





Mr C B Appleyard - Director


Portland House Investment Group Limited (Registered number: 01407671)

Notes to the Financial Statements
for the year ended 30 March 2024


1. STATUTORY INFORMATION

Portland House Investment Group 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.

The functional and presentation currency for the company is pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Turnover
Turnover represents net invoiced sales of rental services, excluding value added tax, relating to the company's investment property.

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 - 10% on cost
Fixtures and fittings - 20% on cost

Fixed assets are initially recorded at cost.

Investments in subsidiaries
Fixed asset investments are stated at costs less provision for permanent diminution in value.

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.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

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.


Portland House Investment Group Limited (Registered number: 01407671)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 31 March 2023
and 30 March 2024 30,256 10,135 40,391
DEPRECIATION
At 31 March 2023 30,019 8,800 38,819
Charge for year 237 413 650
At 30 March 2024 30,256 9,213 39,469
NET BOOK VALUE
At 30 March 2024 - 922 922
At 30 March 2023 237 1,335 1,572

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 31 March 2023 3
Disposals (1 )
At 30 March 2024 2
NET BOOK VALUE
At 30 March 2024 2
At 30 March 2023 3

Portland House Investment Group Limited (Registered number: 01407671)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


5. FIXED ASSET INVESTMENTS - continued

At 30 March 2024, the company held shareholdings in the following subsidiaries, all of which are incorporated in England and Wales.



Company


Principal activity
Percentage of
issued share
capital
Forestdale Homes Limited Property development 75%
UK Secure Homes Limited Home security systems 99%


Both of the above named companies share their registered office at Matrix House, Goodman Street, Leeds, LS10 1NY.

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 31 March 2023
and 30 March 2024 350,000
NET BOOK VALUE
At 30 March 2024 350,000
At 30 March 2023 350,000

The investment property has been stated at its fair value as determined by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 3,192 5,033
VAT - 4,299
Prepayments 3,080 1,453
6,272 10,785

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 229 8,778
Amounts owed to subsidiary undertakings 159 159
Tax 9,641 10,788
VAT 4,080 -
Other creditors 10,372 6,368
Directors' current accounts 8,166 49,550
Accrued expenses 2,425 2,705
35,072 78,348

Portland House Investment Group Limited (Registered number: 01407671)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. RESERVES

Included in retained earnings at 30 March 2024 is an amount of £82,362 (2023: £82,362) which is not distributable. This relates to an accumulated increase in the fair value of investment property, net of any deferred tax provisions required.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 March 2024 and 30 March 2023:

2024 2023
£ £
Mr R G Appleyard
Balance outstanding at start of year - 8,197
Amounts repaid - (8,197 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr C B Appleyard
Balance outstanding at start of year - 7,831
Amounts repaid - (7,831 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -