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REGISTERED NUMBER: 06969320 (England and Wales)













Financial Statements

for the Year Ended 31 July 2024

for

Portland Partners Limited

Portland Partners Limited (Registered number: 06969320)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Portland Partners Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: J D Francis





REGISTERED OFFICE: Wren House
68 London Road
St Albans
Hertfordshire
AL1 1NG





REGISTERED NUMBER: 06969320 (England and Wales)





ACCOUNTANTS: Roy Pinnock & Co LLP
Chartered Certified Accountants
Wren House
68 London Road
St Albans
Hertfordshire
AL1 1NG

Portland Partners Limited (Registered number: 06969320)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,365 18,721
Investments 6 51,034 74,312
64,399 93,033

CURRENT ASSETS
Debtors 7 - 9,544
Cash at bank 166,306 147,333
166,306 156,877
CREDITORS
Amounts falling due within one year 8 30,948 38,217
NET CURRENT ASSETS 135,358 118,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,757

211,693

CREDITORS
Amounts falling due after more than one
year

9

(6,421

)

(13,289

)

PROVISIONS FOR LIABILITIES (919 ) (1,488 )
NET ASSETS 192,417 196,916

Portland Partners Limited (Registered number: 06969320)

Balance Sheet - continued
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 3,332 4,792
Retained earnings 189,084 192,123
SHAREHOLDERS' FUNDS 192,417 196,916

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 March 2025 and were signed by:





J D Francis - Director


Portland Partners Limited (Registered number: 06969320)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Portland Partners 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Computer equipment - 33% on cost

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.

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.

Portland Partners Limited (Registered number: 06969320)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Fixed asset investments
These are comprised of foreign bank account balances that are no longer trading accounts and are being held as an investment. These are revalued using the exchange rate as at the balance sheet date at the end of each year with the difference going to the Fair Value Reserve. Deferred tax is also provided for.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 25,000
AMORTISATION
At 1 August 2023
and 31 July 2024 25,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Portland Partners Limited (Registered number: 06969320)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 1,035 1,149 22,411 2,572 27,167
Additions - - 1,917 - 1,917
At 31 July 2024 1,035 1,149 24,328 2,572 29,084
DEPRECIATION
At 1 August 2023 207 287 5,603 2,349 8,446
Charge for year 207 288 6,561 217 7,273
At 31 July 2024 414 575 12,164 2,566 15,719
NET BOOK VALUE
At 31 July 2024 621 574 12,164 6 13,365
At 31 July 2023 828 862 16,808 223 18,721

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 August 2023 22,411
Additions 1,917
At 31 July 2024 24,328
DEPRECIATION
At 1 August 2023 5,603
Charge for year 6,561
At 31 July 2024 12,164
NET BOOK VALUE
At 31 July 2024 12,164
At 31 July 2023 16,808

Portland Partners Limited (Registered number: 06969320)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2023 74,312
Disposals (21,476 )
Revaluations (1,802 )
At 31 July 2024 51,034
NET BOOK VALUE
At 31 July 2024 51,034
At 31 July 2023 74,312

Cost or valuation at 31 July 2024 is represented by:

Other
investments
£   
Valuation in 2022 6,905
Valuation in 2023 (2,846 )
Valuation in 2024 55
Cost 46,920
51,034

If the fixed asset investments had not been revalued they would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 46,920 68,397

Fixed asset investments were valued on an open market basis on 31 July 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors - 9,544

Portland Partners Limited (Registered number: 06969320)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Finance leases 8,197 7,030
Taxation and social security 20,614 26,834
Other creditors 2,137 4,353
30,948 38,217

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Finance leases 6,421 13,289

10. RESERVES
Fair
value
reserve
£   
At 1 August 2023 4,792
Fixed Asset Investment (1,460 )

At 31 July 2024 3,332

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Francis.