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Registered number: 09425629










PORTAL LEICESTER LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PORTAL LEICESTER LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
PORTAL LEICESTER LIMITED
REGISTERED NUMBER: 09425629

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Tangible assets
 4 
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
2,658,372
2,830,813

Cash at bank and in hand
  
1,293,207
1,897,654

  
3,951,579
4,728,467

Creditors: amounts falling due within one year
 6 
(985,501)
(1,963,463)

Net current assets
  
 
 
2,966,078
 
 
2,765,004

Total assets less current liabilities
  
2,966,078
2,765,004

Creditors: amounts falling due after more than one year
 7 
(1,244,746)
(1,247,451)

  

Net assets
  
1,721,332
1,517,553


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,721,232
1,517,453

  
1,721,332
1,517,553


Page 1

 
PORTAL LEICESTER LIMITED
REGISTERED NUMBER: 09425629
    
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 8 form part of these financial statements.

Page 2

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

1.


General information

Portal Leicester Limited is a private company limited by shares and registered in England and Wales registered number 09425629. Its registered 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 company had net assets of £1,721,332 at the year end (2023: £1,517,553). After reviewing the company's forecasts and projections, and taking into consideration the company's cash and current net asset position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
For this reason, the directors consider that the adoption of the going concern basis in preparing the financial statements is appropriate.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Turnover is recognised as the call centre space is utilised by customers, and as the company earns the right to income.

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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

2.Accounting policies (continued)

 
2.7

Pensions

Defined Contribution pension plan:
The company operates a defined contribution plan for its employees. A defined contribution plan 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 separately from the company in independently administered funds.

 
2.8

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.

 
2.9

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.

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:

Long-term leasehold property
-
Straight-line over 7 years
Fixtures and fittings
-
Straight-line over 7 years

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.

 
2.10

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.

Page 4

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

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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).

Page 5

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

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2024
7,973,054
1,547,113
9,520,167



At 31 December 2024

7,973,054
1,547,113
9,520,167



Depreciation


At 1 January 2024
7,973,054
1,547,113
9,520,167



At 31 December 2024

7,973,054
1,547,113
9,520,167



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-

Page 6

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

5.


Debtors

2024
2023
£
£


Trade debtors
33,014
58,484

Amounts owed by related parties
2,274,243
2,478,161

Other debtors
50,209
10,689

Prepayments and accrued income
300,906
283,479

2,658,372
2,830,813


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


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
93,889
66,892

Corporation tax
77,743
100,678

Other taxation and social security
39,874
56,204

Obligations under finance lease and hire purchase contracts
-
987,680

Accruals and deferred income
773,995
752,009

985,501
1,963,463



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
1,244,746
1,247,451



8.Financial Commitments

The company has total future commitments in respect of operating leases on land and building of £1,927,776 (2023: £2,891,664).

Page 7

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

9.


Related party transactions

At 31 December 2024 the company was owed £2,141,339 (2023: £2,145,257) by Port@l Limited. The directors of Portal Leicester Limited are also the directors and joint owners of Port@l Limited.
At 31 December 2024 the company was owed £132,904 (2023: £332,904) by Portal Topco Limited. The directors of Portal Leicester Limited are also the directors of Portal Topco Limited.


10.


Controlling party

The immediate parent undertaking is Portal Topco Limited. 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 8