Registration number: 11096675

Portland Private Office Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Portland Private Office Limited

(Registration number: 11096675)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	15,702	766
Current assets
Debtors	5	642,869	264,894
Cash at bank and in hand		361,903	532,219
		1,004,772	797,113
Creditors: Amounts falling due within one year	6	(318,902)	(213,878)
Net current assets		685,870	583,235
Total assets less current liabilities		701,572	584,001
Provisions for liabilities		(3,964)	(192)
Net assets		697,608	583,809
Capital and reserves
Called up share capital	7	10	10
Retained earnings		697,598	583,799
Shareholders' funds		697,608	583,809

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2025 and signed on its behalf by:
 

Portland Private Office Limited

(Registration number: 11096675)
Balance Sheet as at 31 December 2024

......................................... J W M Blakiston Director

......................................... TM Budgett Director

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria House
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH
England

These financial statements were authorised for issue by the Board on 22 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 7).

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	26,883	26,883
Additions	17,450	17,450
Disposals	(4,633)	(4,633)
At 31 December 2024	39,700	39,700
Depreciation
At 1 January 2024	26,117	26,117
Charge for the year	2,514	2,514
Eliminated on disposal	(4,633)	(4,633)
At 31 December 2024	23,998	23,998
Carrying amount
At 31 December 2024	15,702	15,702
At 31 December 2023	766	766

5

Debtors

	2024 £	2023 £
Trade debtors	625,327	227,443
Prepayments	10,526	33,685
Other debtors	7,016	3,766
	642,869	264,894

6

Creditors

Creditors: amounts falling due within one year

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Due within one year
Trade creditors		90,843	38,835
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	1,558	1,369
Taxation and social security		187,561	140,581
Accruals and deferred income		37,305	32,235
Other creditors		1,635	858
		318,902	213,878

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £0.001 each	10,000	10	10,000	10

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	17,500	-
Later than one year and not later than five years	63,000	-
	80,500	-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,500 (2023 - £Nil).

9	Related party transactions

Summary of transactions with parent

During the year the company paid dividends of £240,000 (2023: £110,500) to Portland Private Office Holdings Limited.

Portland Private Office Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10	Parent and ultimate parent undertaking

The company's immediate parent is Portland Private Office Holdings Limited, incorporated in England and Wales.

  These financial statements are available upon request from Victoria House, 10 Broad Street, Abingdon, Oxfordshire. OX14 3LH