Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3142024-01-01truefalsetruefalse5The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12348697 2024-01-01 2024-12-31 12348697 2023-01-01 2023-12-31 12348697 2024-12-31 12348697 2023-12-31 12348697 c:Director4 2024-01-01 2024-12-31 12348697 d:CurrentFinancialInstruments 2024-12-31 12348697 d:CurrentFinancialInstruments 2023-12-31 12348697 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12348697 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12348697 d:ShareCapital 2024-12-31 12348697 d:ShareCapital 2023-12-31 12348697 d:RetainedEarningsAccumulatedLosses 2024-12-31 12348697 d:RetainedEarningsAccumulatedLosses 2023-12-31 12348697 c:FRS102 2024-01-01 2024-12-31 12348697 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12348697 c:FullAccounts 2024-01-01 2024-12-31 12348697 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12348697 2 2024-01-01 2024-12-31 12348697 6 2024-01-01 2024-12-31 12348697 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 12348697










PORTAL HOLDCO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PORTAL HOLDCO LIMITED
 

CONTENTS



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


 
PORTAL HOLDCO LIMITED
REGISTERED NUMBER: 12348697

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
939,444
1,128,100

Current assets
  

Debtors: amounts falling due within one year
 5 
652,499
518,631

Cash at bank and in hand
  
35,948
3,461

  
688,447
522,092

Creditors: amounts falling due within one year
 6 
(1,175,697)
(1,282,170)

Net current liabilities
  
 
 
(487,250)
 
 
(760,078)

Total assets less current liabilities
  
452,194
368,022

  

Net assets
  
452,194
368,022


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
452,094
367,922

  
452,194
368,022


Page 1

 
PORTAL HOLDCO LIMITED
REGISTERED NUMBER: 12348697
    
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 HOLDCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Portal Holdco Limited is a private company limited by shares and incorporated in England and Wales. Registered number 12348697. Its registered head office is located at Chantry House, High Street, Coleshill, Birmingham, England, 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

Interest income

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

 
2.4

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.

 
2.5

Taxation

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.


 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4

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

2.Accounting policies (continued)

 
2.10

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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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 valuie 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.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.



3.


Employees




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

Page 5

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

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2024
1,539,427



At 31 December 2024

1,539,427



Impairment


At 1 January 2024
411,327


Charge for the period
188,656



At 31 December 2024

599,983



Net book value



At 31 December 2024
939,444



At 31 December 2023
1,128,100

Page 6

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

5.


Debtors

2024
2023
£
£


Amounts owed by related parties
652,499
518,631


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


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related parties
1,121,063
1,259,196

Corporation tax
54,634
22,974

1,175,697
1,282,170


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


7.


Related party transactions

At 31 December 2024, the Company was owed £22,614 (2023: £22,614) by Portal Topco Limited. The directors of Portal Holdco Limited are also the directors and joint owners of Portal Topco Limited.
At 31 December 2024, the Company was owed £629,885 (2023: £496,017) by Portal Chatham LLP. The directors of Portal Holdco Limited are also the directors of Portal Topco Limited who, with Portal Holdco Limited, are the designated members of Portal Chatham LLP.
At 31 December 2024, the Company owed £1,352,341 to the directors or their associates (2023: £1,133,425).


8.


Controlling party

The Company's ultimate parent company is Portal Trustee Limited, a company incorporated and registered in England and Wales. Portal Trustee Limited is jointly controlled by D Clogg and J Henniker-Gotley.

 
Page 7