| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| PORT REAL LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| PORT REAL LIMITED |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4 |
| PORT REAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor |
| Templeton House |
| 62 Templeton Street |
| Glasgow |
| G40 1DA |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| 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 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| The financial statements were approved by the director and authorised for issue on |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Called up | Fair |
| share | Retained | value | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2023 | ( |
) |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 March 2024 | ( |
) |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 March 2025 | ( |
) |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Port Real Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received. |
| Rental income is recognised when the company is entitled to receive income based on the contractual agreement in force. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Investment property is measured at fair value. The surplus or deficit arising from changes in fair value are recognised in the income statement for the year. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Financial instruments |
| Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement. |
| Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
| An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument. |
| Debtors and creditors that fall due within one year |
| Debtors and creditors that fall due within one year are recorded in the financial statements at undiscounted transaction (invoice) price. Debtors are reviewed for impairment at each reporting date and any impairments are recorded within the profit and loss and shown within administrative expenses. |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2006 | 221,795 |
| Valuation in 2008 | (583,058 | ) |
| Cost | 1,951,263 |
| 1,590,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 1,951,263 | 1,951,263 |
| Investment properties were valued on fair value basis on 31 March 2025 by the director . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| VAT |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 8) |
| Trade creditors |
| Corporation Tax |
| Other creditors |
| Accruals and deferred income |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 8) |
| Amounts owed to related parties | 208,147 | 208,147 |
| Directors' loan accounts | 227,217 | 211,217 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 31,469 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 31,469 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Bank loans are secured by Standard Securities and a bond and floating charge over all Company assets. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 356,002 | 356,002 |
| PORT REAL LIMITED (REGISTERED NUMBER: SC235966) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2024 |
| and 31 March 2025 | ( |
) |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 13. | RELATED PARTY DISCLOSURES |
| Gildeas Limited |
| A company controlled by Mrs N Bali's Spouse |
| During the year, the company leased premises to Gildeas Limited. Rent charged during the year was £82,800 (2024 - £82,800). The amounts due to Gildeas Limited at the balance sheet date is £208,147 (2024 - £207,147) and was repaid subsequent to the year end.. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mrs N Bali. |