Portland Villas Limited - Filleted accounts

Registered number

11567590

Portland Villas Limited

Unaudited Filleted Accounts

30 September 2024

Portland Villas Limited
Registered number:		11567590
Balance Sheet
as at 30 September 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		462,318			497,343

Current assets
Debtors	4	106,536			76,006
Cash at bank and in hand		82,564			72,772
		189,100			148,778

Creditors: amounts falling due within one year	5	(259,139)			(204,733)

Net current liabilities			(70,039)			(55,955)

Total assets less current liabilities			392,279			441,388

Creditors: amounts falling due after more than one year	6		(283,357)			(291,543)



Net assets			108,922			149,845

Capital and reserves
Called up share capital			100			100
Profit and loss account			108,822			149,745

Shareholders' funds			108,922			149,845

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mustafa Emre
Director
Approved by the board on 23 September 2025

Portland Villas Limited
Notes to the Accounts
for the year ended 30 September 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			3		1


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 October 2023	427,278		173,740		601,018
	At 30 September 2024	427,278		173,740		601,018

	Depreciation
	At 1 October 2023	-		103,675		103,675
	Charge for the year	-		35,025		35,025
	At 30 September 2024	-		138,700		138,700

	Net book value
	At 30 September 2024	427,278		35,040		462,318
	At 30 September 2023	427,278		70,065		497,343


4	Debtors			2024		2023
£					£

	Trade debtors			101,478		71,464
	Other debtors			5,058		4,542
				106,536		76,006


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			1,282		1,282
	Trade creditors			132,465		121,055
	Taxation and social security costs			2,241		16,071
	Other creditors			123,151		66,325
				259,139		204,733


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			110,973		110,973
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			(433)		(433)
	Other creditors			172,817		181,003
				283,357		291,543


7	Other information

	Portland Villas Limited is a private company limited by shares and incorporated in England. Its registered office is:
	14 Portland Villas
	Hove
	BN3 5SA