IRIS Accounts Production
v25.1.3.33
01421604
Board of Directors
1.11.23
31.10.24
31.10.24
the management of the property known as Portland Court, Wellington Road, Wallasey, Wirral.
false
true
false
false
true
false
"A" Ordinary
1.00000
"B" Ordinary
1.00000
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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 |
| PORTLAND COURT MANAGEMENT LIMITED |
| Report of the Directors |
2 |
|
| Notes to the Financial Statements |
5 |
|
|
REGISTERED OFFICE: |
Ossington Chambers |
|
REGISTERED NUMBER: |
01421604 (England and Wales) |
|
ACCOUNTANTS: |
Stephenson Nuttall & Co |
| The directors present their report with the financial statements of the company for the year ended 31st October 2024. |
| The directors shown below have held office during the whole of the period from 1st November 2023 to the date of this report. |
| 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. |
| Service Charge expenditure |
360,095 |
|
321,657 |
|
|
| 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 |
) |
|
| LOSS FOR THE FINANCIAL YEAR |
(74,758 |
) |
(23,454 |
) |
|
| Debtors |
5 |
177,496 |
|
149,608 |
|
|
| Amounts falling due within one year |
6 |
177,340 |
|
149,452 |
|
|
| NET CURRENT ASSETS |
156 |
|
156 |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
156 |
|
156 |
|
|
| 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: |
|
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. |
|
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 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 ) . |
|
Directors' remuneration |
- |
|
- |
|
|
|
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 |
|
|
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 |
|
|
| 6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
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 |
|
|
| 7. |
CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
|
Number: |
Class: |
Nominal |
31/10/24 |
|
31/10/23 |
| 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. |
|
Deficit for the year |
(74,758 |
) |
|
|
Transfer to Service Charge Account Deficit |
74,758 |
|
|
| 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. |