Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true5true2024-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.4 11422456 2024-01-01 2024-12-31 11422456 2023-01-01 2023-12-31 11422456 2024-12-31 11422456 2023-12-31 11422456 c:Director4 2024-01-01 2024-12-31 11422456 d:CurrentFinancialInstruments 2024-12-31 11422456 d:CurrentFinancialInstruments 2023-12-31 11422456 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11422456 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11422456 d:ShareCapital 2024-12-31 11422456 d:ShareCapital 2023-12-31 11422456 d:RetainedEarningsAccumulatedLosses 2024-12-31 11422456 d:RetainedEarningsAccumulatedLosses 2023-12-31 11422456 c:FRS102 2024-01-01 2024-12-31 11422456 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11422456 c:FullAccounts 2024-01-01 2024-12-31 11422456 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11422456 6 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 11422456










PORTAL TOPCO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PORTAL TOPCO LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
PORTAL TOPCO LIMITED
REGISTERED NUMBER: 11422456

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
4,304,413
4,304,413

Current assets
  

Debtors: amounts falling due within one year
 5 
190,713
-

Cash at bank and in hand
  
670
670

  
191,383
670

Creditors: amounts falling due within one year
 6 
(310,606)
(401,288)

Net current liabilities
  
 
 
(119,223)
 
 
(400,618)

Total assets less current liabilities
  
4,185,190
3,903,795

  

Net assets
  
4,185,190
3,903,795


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,185,090
3,903,695

  
4,185,190
3,903,795


Page 1

 
PORTAL TOPCO LIMITED
REGISTERED NUMBER: 11422456
    
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 by: 




D Patten
Director

Date: 28 August 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PORTAL TOPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Portal Topco Limited is a private company limited by shares & incorporated in England and Wales, Registered number 11422456. Its registered head office is located at Chantry House, High Street, Coleshill, Birmingham, B46 3BP, United Kingdom.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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.

Page 3

 
PORTAL TOPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in the Statement of Comprehensive Income 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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
PORTAL TOPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
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.


3.


Employees

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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2024
4,304,413



At 31 December 2024
4,304,413






Net book value



At 31 December 2024
4,304,413



At 31 December 2023
4,304,413

Page 5

 
PORTAL TOPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
190,713
-


Amounts owed by group undertakings are interest free, unsecured, and repayable on demand.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
255,856
352,362

Corporation tax
53,250
47,426

Accruals and deferred income
1,500
1,500

310,606
401,288


Amounts owed to group undertakings are interest free, unsecured, and repayable on demand.


7.


Related party transactions

Transactions and balances with companies under common control occurred during the period as follows:


Amounts owed to/(by) related parties at 31 December 2024
Amounts owed to/(by) related parties at 31 December 2023
£
£

Port@l Limited
100,338
100,338
Portal Chatham LLP
(190,713)
96,506
Portal Leicester Limited
132,904
132,904
Portal Holdco Limited
22,614
22,614

The Company received £432,028 in profit share from Portal Chatham LLP, a Company in which it is a designated member, during the year (2023: £587,632).
The Company holds a controlling interest in Port@l Limited, Portal Leicester Limited and Portal Chatham LLP. Portal Holdco Limited is the immediate parent undertaking of the company.

Page 6

 
PORTAL TOPCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Controlling party

The ultimate controlling party is Portal Group Employee Ownership Trust, by virtue of its 100% shareholding in Portal Holdco Limited. Portal Holdco Limited owns 100% of Portal Topco Limited.

 
Page 7