Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 09735869 Mrs Tracey Fenton Mr Maz Fenton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09735869 2023-08-31 09735869 2024-08-31 09735869 2023-09-01 2024-08-31 09735869 frs-core:PlantMachinery 2023-09-01 2024-08-31 09735869 frs-core:ShareCapital 2024-08-31 09735869 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 09735869 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09735869 frs-bus:AbridgedAccounts 2023-09-01 2024-08-31 09735869 frs-bus:SmallEntities 2023-09-01 2024-08-31 09735869 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09735869 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09735869 frs-bus:Director1 2023-09-01 2024-08-31 09735869 frs-bus:Director2 2023-09-01 2024-08-31 09735869 frs-countries:EnglandWales 2023-09-01 2024-08-31 09735869 2022-08-31 09735869 2023-08-31 09735869 2022-09-01 2023-08-31 09735869 frs-core:ShareCapital 2023-08-31 09735869 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 09735869
Portland Developments North Ltd
ABRIDGED Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 09735869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,614 12,470
Investment Properties 5 1,217,300 1,217,300
1,238,914 1,229,770
CURRENT ASSETS
Stocks 171,759 -
Debtors 25,179 22,727
Cash at bank and in hand 19,723 28,097
216,661 50,824
Creditors: Amounts Falling Due Within One Year (988,081 ) (840,235 )
NET CURRENT ASSETS (LIABILITIES) (771,420 ) (789,411 )
TOTAL ASSETS LESS CURRENT LIABILITIES 467,494 440,359
PROVISIONS FOR LIABILITIES
Deferred Taxation (78,417 ) (79,511 )
NET ASSETS 389,077 360,848
CAPITAL AND RESERVES
Called up share capital 6 175 175
Profit and Loss Account 388,902 360,673
SHAREHOLDERS' FUNDS 389,077 360,848
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For the year ending 31 August 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Tracey Fenton
Director
Mr Maz Fenton
Director
28 April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Portland Developments North Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09735869 . The registered office is 16A Portland Street, Huddersfield, West Yorkshire, HD1 5PB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 September 2023 17,583
Additions 16,350
As at 31 August 2024 33,933
Depreciation
As at 1 September 2023 5,113
Provided during the period 7,206
As at 31 August 2024 12,319
Net Book Value
As at 31 August 2024 21,614
As at 1 September 2023 12,470
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Cost or valuation as at 31 August 2024 represented by:
Plant & Machinery
£
At cost 33,933
33,933
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Investment Properties
£
Cost 903,630
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 1,217,300
Additions 4,374
Fair value adjustments (4,374 )
As at 31 August 2024 1,217,300
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 903,630 899,255
The valuation of investment property as at the year end has been made informally by the directors, based on market values and historical valuations by a RICS valuer. 
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 175 175
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7. Related Party Transactions
Birkbees Group LimitedAssociateDuring the year, Portland Developments North Ltd was loaned £117,000 (PY £8,000) from Birkbees Group Limited, a company which is also under the control of Maz & Tracey Fenton. At the year end, Portland Developments North Limited owed £593,000 (PY £476,000) to Birkbees Group Limited.

Birkbees Group Limited

Associate

During the year, Portland Developments North Ltd was loaned £117,000 (PY £8,000) from Birkbees Group Limited, a company which is also under the control of Maz & Tracey Fenton. At the year end, Portland Developments North Limited owed £593,000 (PY £476,000) to Birkbees Group Limited.

Darkel Construction LtdAssociateDuring the year, the company entered into various transactions with Darkel Construction Ltd, a company which Tracey & Maz Fenton also control. During the year, Portland Developments North Limited collected deposits and rents amounting to £400 (PY £22,117) on behalf of Darkel Construction Ltd and Darkel Construction Ltd collected repair deductions amounting to £1,245 (PY £526) on behalf of Portland Developments North Ltd. Darkel Construction Ltd paid the lease payment of £49,860 (PY £49,860) and repaid £35,000 (PY £19,471) to Portland Developments North Ltd. Portland Developments North Ltd repaid £nil (PY £30,152) to Darkel Construction Ltd during the year and the balance owing to Darkel Construction Ltd at the year end is £78,295 (PY £44,140).

Darkel Construction Ltd

Associate

During the year, the company entered into various transactions with Darkel Construction Ltd, a company which Tracey & Maz Fenton also control. During the year, Portland Developments North Limited collected deposits and rents amounting to £400 (PY £22,117) on behalf of Darkel Construction Ltd and Darkel Construction Ltd collected repair deductions amounting to £1,245 (PY £526) on behalf of Portland Developments North Ltd. Darkel Construction Ltd paid the lease payment of £49,860 (PY £49,860) and repaid £35,000 (PY £19,471) to Portland Developments North Ltd. Portland Developments North Ltd repaid £nil (PY £30,152) to Darkel Construction Ltd during the year and the balance owing to Darkel Construction Ltd at the year end is £78,295 (PY £44,140).

The loans are interest free with no fixed plans for repayment.
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