Cathedral & Quay Portfolio Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 12016484

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		59,244		34,597

			59,244		34,597
CURRENT ASSETS
Debtors		205,797		308,841
Cash at bank and in hand		98,082		127,931

		303,879		436,772
Creditors: Amounts Falling Due Within One Year		(85,685 )		(56,962 )

NET CURRENT ASSETS (LIABILITIES)			218,194		379,810

TOTAL ASSETS LESS CURRENT LIABILITIES			277,438		414,407

Creditors: Amounts Falling Due After More Than One Year			(3,794 )		(14,049 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(12,825 )		(6,227 )

NET ASSETS			260,819		394,131

CAPITAL AND RESERVES
Called up share capital	6		100		100
Profit and Loss Account			260,719		394,031

SHAREHOLDERS' FUNDS			260,819		394,131

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Cathedral & Quay Portfolio Ltd

Abridged Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit 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 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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Philip Stapleton Director	Ms Amanda Mott Director
12/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Cathedral & Quay Portfolio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12016484 . The registered office is Unit 3 Ulysses House, Heron Road, Exeter, EX2 7PH.

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 includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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

20% on cost

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Cathedral & Quay Portfolio Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Total
	£
Cost
As at 1 April 2024	119,018
Additions	47,025

As at 31 March 2025	166,043

Depreciation
As at 1 April 2024	84,421
Provided during the period	22,378

As at 31 March 2025	106,799

Net Book Value
As at 31 March 2025	59,244

As at 1 April 2024	34,597

5. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	6,227	6,227
Additions	6,598	6,598

Balance at 31 March 2025	12,825	12,825

6. Share Capital

	2025	2024
	£	£
Called Up Share Capital not Paid	100	100

Amount of Allotted, Called Up Share Capital	100	100

7. Related Party Transactions

130 Taunton Road

Mrs J Stapleton and Ms A Mott are directors and have a material interest.

During the year the company was involved in trading transactions with 130 Taunton Road Ltd. At the balance sheet date the amount due to 130 Taunton Road Ltd was £501 (2024: £2,070 owed by 130 Taunton Raod Ltd). No interest is currently charged in respect of this loan.

Situ Living Ltd

Mr P and Mrs J Stapleton and Ms A Mott are directors and have a material interest.

During the year the company was involved in trading transactions with Situ Living Ltd. At the balance sheet date the amount due from Situ Living Ltd was £117,077 (2024: £292,862). No interest is currently charged in respect of this loan.

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Cathedral & Quay Portfolio Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

8. Controlling Party

The company's controlling party is Mr P and Mrs J Stapleton by virtue of their beneficial ownership of 95% of the issued share capital in the company.

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