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REGISTERED NUMBER: 03259481 (England and Wales)
















Portland Resourcing Limited

Unaudited Financial Statements

for the Year Ended 31st October 2024






Portland Resourcing Limited (Registered number: 03259481)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Portland Resourcing Limited

Company Information
for the Year Ended 31st October 2024







Director: Mr P D Birch





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 03259481 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Portland Resourcing Limited (Registered number: 03259481)

Statement of Financial Position
31st October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 7,831 10,933
Investments 5 67,829 188,161
75,660 199,094

Current assets
Debtors 6 539,673 465,786
Cash at bank and in hand 123,117 261,505
662,790 727,291
Creditors
Amounts falling due within one year 7 95,692 181,379
Net current assets 567,098 545,912
Total assets less current liabilities 642,758 745,006

Capital and reserves
Called up share capital 2 2
Retained earnings 642,756 745,004
642,758 745,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7th March 2025 and were signed by:




Mr P D Birch - Director


Portland Resourcing Limited (Registered number: 03259481)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. Statutory information

Portland Resourcing 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Portland Resourcing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Portland Resourcing Limited (Registered number: 03259481)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

3. Employees and directors

The average number of employees during the year was 4 (2023 - 5 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1st November 2023
and 31st October 2024 202,221
Depreciation
At 1st November 2023 191,288
Charge for year 3,102
At 31st October 2024 194,390
Net book value
At 31st October 2024 7,831
At 31st October 2023 10,933

5. Fixed asset investments
Shares in
group Other
undertakings investments Totals
£    £    £   
Cost or valuation
At 1st November 2023 1 188,160 188,161
Additions - 99,700 99,700
Disposals - (223,160 ) (223,160 )
Revaluations - 3,128 3,128
At 31st October 2024 1 67,828 67,829
Net book value
At 31st October 2024 1 67,828 67,829
At 31st October 2023 1 188,160 188,161

Cost or valuation at 31st October 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - 3,128 3,128
Cost 1 64,700 64,701
1 67,828 67,829

Portland Resourcing Limited (Registered number: 03259481)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 224,709 345,636
Other debtors 314,964 120,150
539,673 465,786

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 63,736 173,257
Amounts owed to group undertakings 1 1
Taxation and social security 7,239 1,535
Other creditors 24,716 6,586
95,692 181,379

8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
Mr P D Birch
Balance outstanding at start of year 100,785 -
Amounts advanced 304,921 100,785
Amounts repaid (100,785 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 304,921 100,785