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Registered Number: 05098686
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 April 2024

for

PORTLAND ESTATES LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 337    647 
Investment property 4 2,100,000    1,995,000 
2,100,337    1,995,647 
Current assets      
Cash at bank and in hand 216,202    215,888 
Creditors: amount falling due within one year (135,038)   (121,601)
Net current assets 81,164    94,287 
 
Total assets less current liabilities 2,181,501    2,089,934 
Provisions for liabilities (258,400)   (238,450)
Net assets 1,923,101    1,851,484 
 

Capital and reserves
     
Called up share capital 5 2    2 
Revaluation Reserves 6 1,101,600    1,016,550 
Profit and loss account 821,499    834,932 
Shareholders' funds 1,923,101    1,851,484 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The director of the company has elected not to include the Income Statement within the financial statements. 
The financial statements were approved by the director on 29 January 2025 and were signed by:


-------------------------------
S Debbasch
Director
1
General Information
Portland Estates Limited is a company limited by shares and is incorporated in England and Wales. The address of the registered office is C/O Bluewater, Quadrant Court, 49 Calthorpe Road, Birmingham, B15 1TH. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 30 April each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 25% Straight Line
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 May 2023 400    983    1,383 
Additions    
Disposals    
At 30 April 2024 400    983    1,383 
Depreciation
At 01 May 2023 80    656    736 
Charge for year 64    246    310 
On disposals    
At 30 April 2024 144    902    1,046 
Net book values
Closing balance as at 30 April 2024 256    81    337 
Opening balance as at 01 May 2023 320    327    647 


4.

Investment property

Cost Other investments other than loans   Total
  £   £
At 01 May 2023 1,995,000    1,995,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 105,000    105,000 
At 30 April 2024 2,100,000    2,100,000 
Other investments comprise the investment property held by the company. The investment property was revalued as at the balance sheet date by the Director based on his knowledge and experience of the nature and class of asset.

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Ordinary shares of £1.00 each  
 

2