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REGISTERED NUMBER: 04543616 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PORTFOLIO ESTATES LIMITED

PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Investment property 4 3,380,000 4,026,790

CURRENT ASSETS
Debtors 5 357,863 392,473
Cash at bank 881,943 634,450
1,239,806 1,026,923
CREDITORS
Amounts falling due within one year 6 (213,457 ) (1,657,300 )
NET CURRENT ASSETS/(LIABILITIES) 1,026,349 (630,377 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,406,349

3,396,413

CREDITORS
Amounts falling due after more than one
year

7

(749,000

)

-

PROVISIONS FOR LIABILITIES (291,092 ) (277,245 )
NET ASSETS 3,366,257 3,119,168

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 1,174,903 1,078,362
Retained earnings 2,191,254 2,040,706
3,366,257 3,119,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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 24 June 2025 and were signed by:





A C Wheeldon - Director


PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o DPC, Stone House, Stone Road Business Park, Stoke on Trent, Staffordshire, ST4 6SR.

The principal activity of the company during the year was that of a property investment company.

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.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Valuation of Investments

As described in the notes to the financial statements, the investment property is stated at fair value as determined by the directors as at 30 September 2024.

REVENUE RECOGNITION
The company is primarily a property investment company and also trades in the sale of properties. Rental income is recognised in the relevant rental period. Properties sales are recognised at sale price on exchange of contracts.

INVESTMENT PROPERTY
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 4,026,790
Disposals (900,000 )
Revaluations 253,210
At 30 September 2024 3,380,000
NET BOOK VALUE
At 30 September 2024 3,380,000
At 30 September 2023 4,026,790

The director has reviewed the valuations and amended them in line with his opinion of fair value at September 2024.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 253,210
Valuation in 2018 506,845
Valuation in 2017 195,360
Valuation in 2016 58,573
Valuation in 2014 452,008
Cost 1,914,004
3,380,000

PORTFOLIO ESTATES LIMITED (REGISTERED NUMBER: 04543616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed by connected companies 22 285,605
Other debtors 117,074 90,276
Deferred tax asset 15,054 16,592
Prepayments and accrued income 225,713 -
357,863 392,473

Amounts owed by connected companies are unsecured, interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 1,449,000
Trade creditors 11,306 7,746
Amounts owed by connected companies 3,901 10,061
Tax 75,312 35,962
VAT 4,859 5,223
Other creditors 76 76
Directors' loan accounts 65,552 80,052
Accruals and deferred income 52,451 69,180
213,457 1,657,300

Amounts owed to connected companies are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 749,000 -

The loans are interest only and mature in June 2029. The interest rate on the loans are a 2.82% margin over LIBOR.

8. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company is a guarantor of the bank loans outstanding in two connected companies; Earlsmead Estates Limited and Novodex Limited. The total amount guaranteed at the year end is £1,540,000 (2023: £1,200,000).

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.