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REGISTERED NUMBER: 01421604 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

PORTLAND COURT MANAGEMENT LIMITED

PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st October 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


PORTLAND COURT MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31st October 2024







DIRECTORS: S A Hill
S J Wrigley
F W Brennan
J P Dalton
M A Hunter





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 01421604 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)

REPORT OF THE DIRECTORS
for the Year Ended 31st October 2024

The directors present their report with the financial statements of the company for the year ended 31st October 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st November 2023 to the date of this report.

S A Hill
S J Wrigley
F W Brennan

Other changes in directors holding office are as follows:

J H Cox - resigned 14th December 2023
L D Roche - resigned 30th June 2024
J P Dalton - appointed 1st August 2024
M A Hunter - appointed 1st August 2024

D J Imrie ceased to be a director after 31st October 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S A Hill - Director


14th July 2025

PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)

INCOME STATEMENT
for the Year Ended 31st October 2024

31/10/24 31/10/23
Notes £    £   

INCOME 279,927 292,912

Service Charge expenditure 360,095 321,657
(80,168 ) (28,745 )

Other operating income 4,990 4,740
OPERATING LOSS (75,178 ) (24,005 )

Interest receivable and similar income 420 551
LOSS BEFORE TAXATION (74,758 ) (23,454 )

Tax on loss 4 - -
LOSS FOR THE FINANCIAL YEAR (74,758 ) (23,454 )

PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)

BALANCE SHEET
31st October 2024

31/10/24 31/10/23
Notes £    £   
CURRENT ASSETS
Debtors 5 177,496 149,608

CREDITORS
Amounts falling due within one year 6 177,340 149,452
NET CURRENT ASSETS 156 156
TOTAL ASSETS LESS CURRENT
LIABILITIES

156

156

CAPITAL AND RESERVES
Called up share capital 7 156 156
SHAREHOLDERS' FUNDS 156 156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 14th July 2025 and were signed on its behalf by:





S A Hill - Director


PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Portland Court Management 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.

Income
Income represents service charge contributions receivable from the lessees in specified proportions based on the budget prepared by the managing agent at the beginning of each year, and in accordance with the provisions of each lease. The company receives these amounts as agent, which are then held on trust and, and therefore do not constitute turnover.

Presentation of the income statement
The presentation of the Income Statement on page 3 has been modified from the prescribed format for company accounts in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the management of the property.

3. EMPLOYEES AND DIRECTORS

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

31/10/24 31/10/23
£    £   
Directors' remuneration - -

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31st October 2024 nor for the year ended 31st October 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade debtors 23,897 28,860
Service charge deficit 69,549 32,339
Other debtors 2,385 32,657
Bank and cash balances held by managing agent 78,033 51,130
Prepayments 3,632 4,622
177,496 149,608

PORTLAND COURT MANAGEMENT LIMITED (REGISTERED NUMBER: 01421604)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade creditors 23,074 50,606
Reserve Fund 142,611 82,905
Social security and other taxes 944 569
Accrued expenses 10,711 15,372
177,340 149,452

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/24 31/10/23
value: £    £   
78 "A" Ordinary £1 78 78
78 "B" Ordinary £1 78 78
156 156

The "A" shares carry voting rights and are held by the freeholder, Scafell Securities Ltd. The lessee of a flat is entitled to hold one "B" share which does not carry voting rights. At 31st October 2024 the freeholder had an interest in no (2023 - 1) "B" shares by virtue of the fact that no (2023 - 1) long leases remained unsold at that date.

8. RESERVES
Retained
earnings
£   

Deficit for the year (74,758 )
Transfer to Service Charge Account
Deficit

74,758

At 31st October 2024 -

9. RELATED PARTY DISCLOSURES

S A Hill is a director and controlling shareholder in the ultimate controlling company, Gates Investments Ltd. The freeholder, Scafell Securities Ltd, is a subsidiary company of Gates Investments Ltd.

The company is a mutual trading company and as such received income in the form of service charges from lessees, some of whom are directors of the company. Service charges receivable from the directors are on the same basis as for all of the other lessees.