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REGISTERED NUMBER: OC419580 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 30 October 2024

for

Portland Capital RE LLP

Portland Capital RE LLP (Registered number: OC419580)






Contents of the Financial Statements
for the Year Ended 30 October 2024




Page

General Information 1

Report of the Members 2

Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Portland Capital RE LLP

General Information
for the Year Ended 30 October 2024







DESIGNATED MEMBERS: B Cassels
L Martin





REGISTERED OFFICE: 30 Berwick street
London
W1F 8RH





REGISTERED NUMBER: OC419580 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

Portland Capital RE LLP (Registered number: OC419580)

Report of the Members
for the Year Ended 30 October 2024

The members present their report with the financial statements of the LLP for the year ended 30 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property investment

DESIGNATED MEMBERS
The designated members during the year under review were:

B Cassels
L Martin

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £14,624 (2023 - £NIL profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

ON BEHALF OF THE MEMBERS:





B Cassels - Designated member


17 July 2025

Accountants' Report to the Members
on the Unaudited Financial Statements of
Portland Capital RE LLP


In accordance with the engagement letter, we have prepared for your approval the financial information of Portland Capital RE LLP for the year 30 October 2024 from the entity's accounting records and from information and explanations you have given us.

You have approved the financial information for the year 30 October 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information.

The financial information is provided exclusively to Portland Capital RE LLP for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX


17 July 2025

Portland Capital RE LLP (Registered number: OC419580)

Income Statement
for the Year Ended 30 October 2024

30.10.24 30.10.23
£    £   

TURNOVER - -

Other operating income (14,624 ) -
OPERATING LOSS and
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(14,624




)




-

Portland Capital RE LLP (Registered number: OC419580)

Balance Sheet
30 October 2024

30.10.24 30.10.23
Notes £    £   
CURRENT ASSETS
Debtors 4 - 3,713
Investments 5 262,695 214,784
Cash at bank 81 81
262,776 218,578
CREDITORS
Amounts falling due within one year 6 (12,112 ) (1,200 )
NET CURRENT ASSETS 250,664 217,378
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

250,664

217,378

LOANS AND OTHER DEBTS DUE TO
MEMBERS

251,922

218,636

MEMBERS' OTHER INTERESTS
Capital accounts 2 2
Other reserves (1,260 ) (1,260 )
250,664 217,378

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 251,922 218,636
Members' other interests (1,258 ) (1,258 )
250,664 217,378

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 October 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Portland Capital RE LLP (Registered number: OC419580)

Balance Sheet - continued
30 October 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 17 July 2025 and were signed by:




B Cassels - Designated member




L Martin - Designated member


Portland Capital RE LLP (Registered number: OC419580)

Notes to the Financial Statements
for the Year Ended 30 October 2024

1. STATUTORY INFORMATION

Portland Capital RE LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Portland Capital RE LLP (Registered number: OC419580)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments are stated at cost less impairment. At the year-end, the members reviewed the carrying value of the investments and concluded no impairment was necessary.

Income
Income comprises the LLP’s share of profit/loss from its investments in other LLPs in which it is a member.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.24 30.10.23
£    £   
Other debtors - 3,713

5. CURRENT ASSET INVESTMENTS
30.10.24 30.10.23
£    £   
Other Investments 262,695 214,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.24 30.10.23
£    £   
Other creditors 12,112 1,200