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Company Registration No. 10533762 (England and Wales)
Portnall House Ltd Unaudited accounts for the period from 1 January 2023 to 31 January 2024
Portnall House Ltd Unaudited accounts Contents
Page
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Portnall House Ltd Company Information for the period from 1 January 2023 to 31 January 2024
Director
Mr N D Taee
Company Number
10533762 (England and Wales)
Registered Office
Albany House Claremont Lane Esher Surrey KT10 9FQ United Kingdom
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Portnall House Ltd Statement of financial position as at 31 January 2024
2024 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,833 
31,111 
Investments
209,661 
209,662 
215,494 
240,773 
Current assets
Debtors
41,011,054 
39,601,379 
Investments
25,811,852 
25,904,160 
Cash at bank and in hand
2,783,856 
2,700,266 
69,606,762 
68,205,805 
Creditors: amounts falling due within one year
(36,066,859)
(33,604,076)
Net current assets
33,539,903 
34,601,729 
Net assets
33,755,397 
34,842,502 
Capital and reserves
Called up share capital
7 
7 
Profit and loss account
33,755,390 
34,842,495 
Shareholders' funds
33,755,397 
34,842,502 
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 April 2025 and were signed on its behalf by
Mr N D Taee Director Company Registration No. 10533762
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Portnall House Ltd Notes to the Accounts for the period from 1 January 2023 to 31 January 2024
1
Statutory information
Portnall House Ltd is a private company, limited by shares, registered in England and Wales, registration number 10533762. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
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:
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Tax is recognised in the statement of income and retained earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Portnall House Ltd Notes to the Accounts for the period from 1 January 2023 to 31 January 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
3 years
Investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings,
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Portnall House Ltd Notes to the Accounts for the period from 1 January 2023 to 31 January 2024
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 January 2023
70,000 
At 31 January 2024
70,000 
Depreciation
At 1 January 2023
38,889 
Charge for the period
25,278 
At 31 January 2024
64,167 
Net book value
At 31 January 2024
5,833 
At 31 December 2022
31,111 
5
Investments
Other investments 
£ 
Valuation at 1 January 2023
209,662 
Disposals
(1)
Valuation at 31 January 2024
209,661 
6
Debtors
2024 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
1,116,667 
Other debtors
41,011,054 
38,484,712 
41,011,054 
39,601,379 
7
Investments held as current assets
2024 
2022 
£ 
£ 
Listed investments
25,811,852 
25,904,160 
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Portnall House Ltd Notes to the Accounts for the period from 1 January 2023 to 31 January 2024
8
Creditors: amounts falling due within one year
2024 
2022 
£ 
£ 
Bank loans and overdrafts
3,812,916 
14,553,054 
VAT
248 
- 
Trade creditors
20,525 
132 
Taxes and social security
165,146 
345,031 
Other creditors
5,279,348 
5,910,327 
Loans from directors
26,788,676 
12,795,532 
36,066,859 
33,604,076 
Bank loans and overdrafts are secured by a charge over the Company's current and non-current listed investments, present and future.
9
Share capital
2024 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 A shares of £1 each
2 
2 
1 B shares of £1 each
1 
1 
1 C Shares of £1 each
1 
1 
1 D Shares of £1 each
1 
1 
1 E Shares of £1 each
1 
1 
1 F Shares of £1 each
7 
7 
10
Transactions with related parties
Included within other debtors in the current and prior years are loans to companies with common directorships. Included within other creditors in the current and prior year is a loan with the Directors wife. All balances with related parties are unsecured, interest-free and repayable on demand.
11
Average number of employees
During the period the average number of employees was 2 (2022: 0).
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