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REGISTERED NUMBER: 09356152 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

PORTLAND FREEHOUSE COMPANY LTD

PORTLAND FREEHOUSE COMPANY LTD (REGISTERED NUMBER: 09356152)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORTLAND FREEHOUSE COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: Ms M Gearing
D Gearing
T J Taylor
M J Taylor





REGISTERED OFFICE: 80 High Street
Worthing
West Sussex
BN11 1DJ





REGISTERED NUMBER: 09356152 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

PORTLAND FREEHOUSE COMPANY LTD (REGISTERED NUMBER: 09356152)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 29,594 28,816

CURRENT ASSETS
Stocks 4 10,500 9,000
Debtors 5 41,346 24,846
Cash at bank and in hand 62,837 160,054
114,683 193,900
CREDITORS
Amounts falling due within one year 6 103,521 109,766
NET CURRENT ASSETS 11,162 84,134
TOTAL ASSETS LESS CURRENT LIABILITIES 40,756 112,950

CREDITORS
Amounts falling due after more than one year 7 (2,601 ) (12,854 )

PROVISIONS FOR LIABILITIES (2,938 ) (1,693 )
NET ASSETS 35,217 98,403

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 34,217 97,403
35,217 98,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 4 July 2025 and were signed on its behalf by:




D Gearing - Director M J Taylor - Director




T J Taylor - Director Ms M Gearing - Director


PORTLAND FREEHOUSE COMPANY LTD (REGISTERED NUMBER: 09356152)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 50% on cost
Improvements to property - 7% on cost
Plant and machinery - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 22 ) .

3. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery Totals
£    £    £    £   
COST
At 1 March 2024 111,500 60,000 169,191 340,691
Additions - - 9,208 9,208
At 28 February 2025 111,500 60,000 178,399 349,899
DEPRECIATION
At 1 March 2024 111,500 37,957 162,418 311,875
Charge for year - 4,200 4,230 8,430
At 28 February 2025 111,500 42,157 166,648 320,305
NET BOOK VALUE
At 28 February 2025 - 17,843 11,751 29,594
At 29 February 2024 - 22,043 6,773 28,816

PORTLAND FREEHOUSE COMPANY LTD (REGISTERED NUMBER: 09356152)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


4. STOCKS
2025 2024
£    £   
Stocks 10,500 9,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 10,334 12,437
Amounts owed by associates 27,394 7,394
Accruals 1,047 1,359
Prepayments 2,571 3,656
41,346 24,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,404 10,283
Trade creditors 34,940 41,292
Amounts owed to associates 10,254 17,960
Tax 15,239 10,669
Social security and other taxes 4,712 6,162
VAT 16,309 16,571
Other creditors 660 742
Accrued expenses 11,003 6,087
103,521 109,766

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 1-2 years 2,601 10,283
Bank loans - 2-5 years - 2,571
2,601 12,854

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 45,154 41,785
Between one and five years 180,617 143,344
In more than five years 33,866 36,592
259,637 221,721

9. RELATED PARTY DISCLOSURES

As at 28 February 2025, the company owed Our Eating House Company Limited £5,527 (2024: £20,071). The loan is interest free and repayable on demand.

As at 28 February 2025, The Beach House Company Limited owed the company £31,493 (2024: £10,234).
Of this balance, £7,492 is included within trade debtors and £3,393 within trade creditors. The loan is interest free and repayable on demand.

As at 28 February 2025, the company owed Tap House Company Limited £2,987 (2024: £1,386). Of this balance, £2,812 is included within trade debtors and £1,073 within trade creditors. The loan is interest free and repayable on demand.

During the year Portland Freehouse Company Limited recharged the following wages to:

The Beach House Company Limited - £8,384
Tap House Company Limited - £23,116

PORTLAND FREEHOUSE COMPANY LTD (REGISTERED NUMBER: 09356152)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


10. ULTIMATE CONTROLLING PARTY

This was by virtue of Mr D Gearing and Ms M Gearing's 51% holding of the issued share capital.