Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2024-01-01falseOther telecommunications activities45truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03513549 2024-01-01 2024-12-31 03513549 2023-01-01 2023-12-31 03513549 2024-12-31 03513549 2023-12-31 03513549 c:Director4 2024-01-01 2024-12-31 03513549 d:Buildings 2024-01-01 2024-12-31 03513549 d:Buildings 2024-12-31 03513549 d:Buildings 2023-12-31 03513549 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03513549 d:FurnitureFittings 2024-01-01 2024-12-31 03513549 d:FurnitureFittings 2024-12-31 03513549 d:FurnitureFittings 2023-12-31 03513549 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03513549 d:OfficeEquipment 2024-01-01 2024-12-31 03513549 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03513549 d:CurrentFinancialInstruments 2024-12-31 03513549 d:CurrentFinancialInstruments 2023-12-31 03513549 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03513549 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03513549 d:ShareCapital 2024-12-31 03513549 d:ShareCapital 2023-12-31 03513549 d:RetainedEarningsAccumulatedLosses 2024-12-31 03513549 d:RetainedEarningsAccumulatedLosses 2023-12-31 03513549 c:FRS102 2024-01-01 2024-12-31 03513549 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03513549 c:FullAccounts 2024-01-01 2024-12-31 03513549 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03513549 2 2024-01-01 2024-12-31 03513549 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 03513549










PORT@L LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PORT@L LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
PORT@L LIMITED
REGISTERED NUMBER: 03513549

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,319,583
2,362,242

Current assets
  

Debtors: amounts falling due within one year
 5 
345,392
437,097

Cash at bank and in hand
  
1,045,647
917,191

  
1,391,039
1,354,288

Creditors: amounts falling due within one year
 6 
(3,072,644)
(3,170,143)

Net current liabilities
  
 
 
(1,681,605)
 
 
(1,815,855)

Total assets less current liabilities
  
637,978
546,387

Provisions for liabilities
  

Deferred tax
  
(35)
(78)

Net assets
  
637,943
546,309


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
637,843
546,209

  
637,943
546,309


Page 1

 
PORT@L LIMITED
REGISTERED NUMBER: 03513549
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2025.




D Patten
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Port@l Limited is a private company limited by shares and incorporated in England and Wales. Its registered number is 03513549. Its registered head office is located at Chantry House, High Street, Coleshill, Birmingham, B46 3BP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the forecasted performance and cashflows of the company and have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future, and not less than twelve months from the date of approval of these financial statements.
Accordingly, the company continues to adopt the going concern basis in preparing the financial statements. 

  
2.3

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

  
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Valued Added Tax and trade discounts.

Turnover is recognised as call centre space utilised by customers, and as the company earns the right to income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.12

Pensions

The company operates a defined contribution plan for its employees. A defined contribution is a pension plan under which the Company pays fixed contributions into a seperate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held seperately from the Company in independently administered funds. 

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 5).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2024
2,850,000
4,416,228
7,266,228



At 31 December 2024

2,850,000
4,416,228
7,266,228



Depreciation


At 1 January 2024
488,169
4,415,817
4,903,986


Charge for the year on owned assets
42,389
270
42,659



At 31 December 2024

530,558
4,416,087
4,946,645



Net book value



At 31 December 2024
2,319,442
141
2,319,583



At 31 December 2023
2,361,831
411
2,362,242

Included in the net book value of freehold property is land with a cost of £900,000 (2023: £900,000) which is not depreciated.


5.


Debtors

2024
2023
£
£


Trade debtors
20,601
8,623

Amounts owed by related parties
111,800
121,032

Other debtors
635
3,309

Prepayments and accrued income
212,356
304,133

345,392
437,097


Amounts owed by related parties are unsecured, interest free and repayable on demand.

Page 6

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
62,121
71,031

Amounts owed to related parties
2,641,340
2,655,058

Corporation tax
134,290
80,990

Other taxation and social security
70,347
92,885

Other creditors
164,546
270,179

3,072,644
3,170,143


Amounts owed to related parties are unsecured, interest free and repayable on demand.

Page 7

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Related party transactions

During the year, the company has traded with companies under common control. Trading balances outstanding and the transactions that occured during the years to 31 December 2024 and 31 December 2023 are as follows:


Amounts owed from related parties
Amounts owed to related parties
£
£

Portal Topco Limited
31 December 2024
100,338
-
31 December 2023
100,338
-
Cannock Developments Limited
31 December 2024
-
500,000
31 December 2023
-
500,000
Portal Chatham LLP
31 December 2024
10,526
-
31 December 2023
9,957
-
Portal Trustee Limited
31 December 2024
936
-
31 December 2023
936
-
Portal Leicester Limited
31 December 2024
-
2,141,340
31 December 2023
9,800
2,155,057

M J Tracey and J D Henniker-Gotley were shareholders and directors of Port@l Limited and were also directors of the following companies during the year:
Portal Topco Limited
Portal Trustee Limited
Portal Chatham LLP
Portal Leicester Limited
M J Tracey is a shareholder and director of Port@l Limited and is also director of the following companies during the year:
Cannock Developments Limited
Included within other debtors is an amount of £Nil (2023: £2,786) due from a director. The amount is unsecured, interest free and repayable on demand.

Page 8

 
PORT@L LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Controlling party

The ultimate controlling party is the Portal Group Employee Ownership Trust by virtue of its 100% shareholding in Portal Holdco Limited. Portal Holdco Limited owns 100% of Portal Topco Limited, which owns 100% of Port@l Limited.
 
Page 9