Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-242024-03-24Service company44true2023-03-25falsetrue 2001950 2023-03-25 2024-03-24 2001950 2022-03-25 2023-03-24 2001950 2024-03-24 2001950 2023-03-24 2001950 c:Director6 2023-03-25 2024-03-24 2001950 d:CurrentFinancialInstruments 2024-03-24 2001950 d:CurrentFinancialInstruments 2023-03-24 2001950 d:ShareCapital 2024-03-24 2001950 d:ShareCapital 2023-03-24 2001950 c:OrdinaryShareClass1 2023-03-25 2024-03-24 2001950 c:OrdinaryShareClass1 2024-03-24 2001950 c:OrdinaryShareClass1 2023-03-24 2001950 c:FRS102 2023-03-25 2024-03-24 2001950 c:Audited 2023-03-25 2024-03-24 2001950 c:FullAccounts 2023-03-25 2024-03-24 2001950 c:PrivateLimitedCompanyLtd 2023-03-25 2024-03-24 2001950 c:SmallCompaniesRegimeForAccounts 2023-03-25 2024-03-24 2001950 e:PoundSterling 2023-03-25 2024-03-24 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 2001950









PORTMAN GATE MANAGEMENT COMPANY LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 24 MARCH 2024

 
PORTMAN GATE MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 2001950

STATEMENT OF FINANCIAL POSITION
AS AT 24 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,130
1,130

  
1,130
1,130

Total assets less current liabilities
  
 
 
1,130
 
 
1,130

  

Net assets
  
1,130
1,130


Capital and reserves
  

Called up share capital 
 5 
1,130
1,130

  
1,130
1,130


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 








A K Gupta
Director

Date: 31 March 2025


The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PORTMAN GATE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2024

1.


General information

Portman Gate Management Company Limited (''the Company'') is a company that manages and administers services in trust for the leaseholders and freeholders of the houses, flats and maisonettes of the property Portman Gate, Lisson Grove, London NW1. To achieve it's principal activity most effectively the company has appointed agents to manage the property on it's behalf. In consequence the company has not traded during the year. Service Charge Accounts dealing with the service costs of Portman Gate have been separately prepared and can be obtained from the managing agents.
The company is a private company limited by shares and is incorporated in England and Wales with registration number 2001950. The address of the Registered Office is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.3

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors.
(i) Financial assets
Basic financial assets, including other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

 
Page 2

 
PORTMAN GATE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2024

2.Accounting policies (continued)


2.3
Financial instruments (continued)


(ii) Financial liabilities
Basic financial liabilities, including other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Debtors

2024
2023
£
£


Other debtors
1,130
1,130


Page 3

 
PORTMAN GATE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2024

5.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



113 (2023 - 113) Ordinary shares of £10.00 each
1,130
1,130



6.


Auditors' information

The auditors' report on the financial statements for the year ended 24 March 2024 was unqualified.

The audit report was signed on 31 March 2025 by Michael Wedge FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

Page 4