Porthilly Properties Limited


Directors	Mr A K Roads
	Mrs N J Roads


Company Secretary	Mrs N J Roads


Registered Address	1a Eddystone Road
	Wadebridge
	PL27 7AL


Registered Number	08929726 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,222,096		1,620,281
			2,222,096		1,620,281
Current assets
Debtors		9,555		17,731
Cash at bank and on hand		22,671		21,316
		32,226		39,047
Creditors amounts falling due within one year	4	(1,567,284)		(1,158,441)
Net current assets (liabilities)			(1,535,058)		(1,119,394)
Total assets less current liabilities			687,038		500,887
Provisions for liabilities	5		(84,000)		(50,831)
Net assets			603,038		450,056
Capital and reserves
Called up share capital			400		400
Profit and loss account			602,638		449,656
Shareholders' funds	6		603,038		450,056

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 2 September 2025, and are signed on its behalf by:

Mrs N J Roads
Director
Registered Company No. 08929726

Porthilly Properties Limited

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Office Equipment	25

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
At 01 April 24	1,617,485	11,012	1,628,497
Additions	469,838	-	469,838
Revaluations	132,676	-	132,676
At 31 March 25	2,219,999	11,012	2,231,011
Depreciation and impairment
At 01 April 24	-	8,216	8,216
Charge for year	-	699	699
At 31 March 25	-	8,915	8,915
Net book value
At 31 March 25	2,219,999	2,097	2,222,096
At 31 March 24	1,617,485	2,796	1,620,281

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	14,430	8,293
Other creditors	1,551,276	1,148,702
Accrued liabilities and deferred income	1,578	1,446
Total	1,567,284	1,158,441


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	84,000	50,831
Total	84,000	50,831

6.	Revaluation reserve
	Balance sheet reserves include unrealised reserves of £278,403 (2024: £178,896) in relation to investment property fair value adjustments, which have been provided for under FRS102.