Portrait Communications Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 06803729

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		13,129		10,211

			13,129		10,211
CURRENT ASSETS
Debtors	5	31,717		58,200
Cash at bank and in hand		55,422		119,098

		87,139		177,298
Creditors: Amounts Falling Due Within One Year	6	(52,053 )		(68,416 )

NET CURRENT ASSETS (LIABILITIES)			35,086		108,882

TOTAL ASSETS LESS CURRENT LIABILITIES			48,215		119,093

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,200 )		(1,940 )

NET ASSETS			45,015		117,153

CAPITAL AND RESERVES
Called up share capital	7		65		100
Capital redemption reserve			35		-
Profit and Loss Account			44,915		117,053

SHAREHOLDERS' FUNDS			45,015		117,153

Page 1

Page 2

Portrait Communications Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms Joanna Israelsohn

Director

08/10/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Portrait Communications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06803729 . The registered office is 3.05 Grand Union Studios, 332 Ladbroke Grove, London, W10 5AD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the rendering of services inclusive of direct expenses incurred on client deliverables.

Where the outcome of a project can be estimated reliably and the revenue associated with the project can be estimated reliably, the project revenue is recognised in the profit and loss account by reference to the stage of completion at the balance sheet date, if the right to the consideration has been obtained through performance.

Factors taken into account in assessing the percentage completion of a project include, hours worked against expected hours, project phases, milestones or deliverables completed.

Consideration accrues as project activity progresses by reference to the value of work performed. Where the value of consideration exceeds the amount invoiced, this is recognised as accrued income within debtors. Where the amount invoiced exceeds the value of project work performed the excess is recognised as deferred income within creditors. If the right to consideration is conditional or contingent on a specified future event or outcome, the occurrence of which is outside the Company's control, turnover is not recognised until that critical event occurs.

When services are performed by an indeterminate number of acts over a specified period of time, revenue is recognised on a straight-line basis over the specified period unless there is evidence that some other method better represents the stage of completion

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Reducing balance method
Computer Equipment	25% Reducing balance method

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

Page 3

Page 4

Portrait Communications Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 7)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 February 2024	13,892	30,121	44,013
Additions	4,486	2,779	7,265

As at 31 January 2025	18,378	32,900	51,278

Depreciation
As at 1 February 2024	11,461	22,341	33,802
Provided during the period	1,672	2,675	4,347

As at 31 January 2025	13,133	25,016	38,149

Net Book Value
As at 31 January 2025	5,245	7,884	13,129

As at 1 February 2024	2,431	7,780	10,211

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	19,470	31,832
Other debtors	12,247	26,368

	31,717	58,200

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	8,393	4,946
Other creditors	26,534	30,906
Taxation and social security	17,126	32,564

	52,053	68,416

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	65	100

Page 4