| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| Portgate Developments Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| Portgate Developments Limited |
| Portgate Developments Limited (Registered number: 04518446) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Portgate Developments Limited |
| Company Information |
| for the Year Ended 30 April 2025 |
| DIRECTORS: |
| SECRETARIES: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Oriel House |
| 2-8 Oriel Road |
| Bootle |
| Liverpool |
| Merseyside |
| L20 7EP |
| Portgate Developments Limited (Registered number: 04518446) |
| Balance Sheet |
| 30 April 2025 |
| 30.4.25 | 30.4.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Portgate Developments Limited (Registered number: 04518446) |
| Balance Sheet - continued |
| 30 April 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Portgate Developments Limited (Registered number: 04518446) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | STATUTORY INFORMATION |
| Portgate Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents monies received on the rental of investment properties. Income is recognised when rents are received. |
| Investment property |
| Investment properties are shown at the latest market value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Going concern |
| The financial statements have been prepared on a going concern basis which assumes that the organisation will continue in operational existence for the foreseeable future. This assumption has been made made on the basis that the company will continue to enjoy the support of its directors and a company under common control. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| Portgate Developments Limited (Registered number: 04518446) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to |
| property |
| £ |
| COST |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2024 |
| Revaluations | 60,000 |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| Fair value at 30 April 2025 is represented by: |
| £ |
| Valuation in 2016 | 385,333 |
| Valuation in 2020 | (10,000 | ) |
| Valuation in 2025 | 60,000 |
| Cost | 184,667 |
| 620,000 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Runehall Properties Ltd. |
| Directors' current accounts | 142,993 | 13,703 |
| Accrued expenses |
| Portgate Developments Limited (Registered number: 04518446) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Other loans - 1-2 years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Mortgage | 337,047 | 337,047 |
| The mortgage is secured against the investment properties. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 May 2024 |
| Property revaluation | 60,000 |
| At 30 April 2025 |