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REGISTERED NUMBER: 09760631 (England and Wales)














PORTET PROPERTIES LIMITED

Unaudited Financial Statements

for the Year Ended 31 August 2024






PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PORTET PROPERTIES LIMITED

Company Information
for the Year Ended 31 August 2024







Directors: Mr J C Fowler
Mr E R Fowler
Mrs A E Guest
Mr D W Smith





Registered office: The Old Barn
Home Farm
42 High Street
Ravensthorpe
Northamptonshire
NN6 8EH





Registered number: 09760631 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 10,790,731 10,526,432

CURRENT ASSETS
Debtors 5 43,350 26,850
Investments 6 - 400,000
Cash at bank 837,458 660,927
880,808 1,087,777
CREDITORS
Amounts falling due within one year 7 270,547 263,109
NET CURRENT ASSETS 610,261 824,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,400,992

11,351,100

CREDITORS
Amounts falling due after more than
one year

8

(5,445,741

)

(5,452,992

)

PROVISIONS FOR LIABILITIES (235,599 ) (238,238 )
NET ASSETS 5,719,652 5,659,870

PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

Balance Sheet - continued
31 August 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 9 5,823,218 5,820,578
Retained earnings 9 (103,666 ) (160,808 )
SHAREHOLDERS' FUNDS 5,719,652 5,659,870

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:





Mr J C Fowler - Director


PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

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


1. STATUTORY INFORMATION

Portet Properties 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

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


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2023 10,526,432
Additions 264,299
At 31 August 2024 10,790,731
Net book value
At 31 August 2024 10,790,731
At 31 August 2023 10,526,432

PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 1,036,491
Valuation in 2020 25,000
Valuation in 2018 839,002
Valuation in 2016 4,232,616
Cost 4,657,622
10,790,731

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,350 26,850

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other - 400,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,800 6,000
Taxation and social security 17,262 6,142
Other creditors 245,485 250,967
270,547 263,109

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,445,741 5,452,992

PORTET PROPERTIES LIMITED (REGISTERED NUMBER: 09760631)

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


9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 September 2023 (160,808 ) 5,820,578 5,659,770
Profit for the year 59,782 59,782
Property revaluation (2,640 ) 2,640 -
At 31 August 2024 (103,666 ) 5,823,218 5,719,552

10. ULTIMATE CONTROLLING PARTY

The controlling party is Fowler Family Holdings Limited.