Lets Portal Limited - Filleted accounts

Registered number

SC321819

Lets Portal Limited

Unaudited Filleted Accounts

31 March 2025

Lets Portal Limited
Registered number:		SC321819
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		933			1,098

Current assets
Debtors	4	5,572			6,612
Cash at bank and in hand		2,076			5,764
		7,648			12,376

Creditors: amounts falling due within one year	5	(160,055)			(24,042)

Net current liabilities			(152,407)			(11,666)

Total assets less current liabilities			(151,474)			(10,568)

Creditors: amounts falling due after more than one year	6		-			(133,871)



Net liabilities			(151,474)			(144,439)

Capital and reserves
Called up share capital			75			75
Revaluation reserve	7		26			26
Profit and loss account			(151,575)			(144,540)

Shareholders' funds			(151,474)			(144,439)

The director is 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 director acknowledges his 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.




Gavin Mitchell
Director
Approved by the board on 23 December 2025

Lets Portal Limited
Notes to the Accounts
for the year ended 31 March 2025


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). The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

	Going Concern
	The accounts have been prepared on the going concern basis. This basis is considered appropriate in light of the commitment by the director to continue to support the working capital requirements of the company with personal funds. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

	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			15% reducing balance
	Website			33% straight line

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.

	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.

	Financial Instruments
	Financial instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial. Financial assets comprise cash, trade debtors, other debtors and accrued income. Financial liabilities comprise bank overdraft, trade creditors, other creditors and accruals.

	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.

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


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					0		1


3	Tangible fixed assets
				Plant and machinery etc		Website		Total
£					£		£
	Cost
	At 1 April 2024			10,554		216,198		226,752
	At 31 March 2025			10,554		216,198		226,752

	Depreciation
	At 1 April 2024			9,456		216,198		225,654
	Charge for the year			165		-		165
	At 31 March 2025			9,621		216,198		225,819

	Net book value
	At 31 March 2025			933		-		933
	At 31 March 2024			1,098		-		1,098


4	Debtors					2025		2024
£							£

	Trade debtors					72		275
	Other debtors					5,500		6,337
						5,572		6,612


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					151		744
	Trade creditors					-		1,192
	Taxation and social security costs					93		-
	Other creditors					159,811		22,106
						160,055		24,042


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Other creditors					-		133,871

	A director has given a personal guarantee in respect of a loan balance of £64,716 (2024: £63,436).

7	Capital redemption reserve					2025		2024
£							£

	At 1 April 2024					26		26

	At 31 March 2025					26		26


8	Events after the reporting date

	Following the year end, the Director decided to cease operations.


9	Loans from directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Interest free loans from directors	15,967		1,936		-		17,903

		15,967		1,936		-		17,903
	An interest free loan of £17,903 repayable on demand is owed to the Directors at the year end.

10	Other information

	Lets Portal Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
	5 South Charlotte Street
	Edinburgh
	EH2 4AN