PORTLAND LIMITED 03308182 false 2024-03-30 2025-03-29 2025-03-29 The principal activity of the company is as a property development company. Digita Accounts Production Advanced 6.30.9574.0 true 03308182 2024-03-30 2025-03-29 03308182 2025-03-29 03308182 core:CurrentFinancialInstruments 2025-03-29 03308182 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-29 03308182 core:FurnitureFittingsToolsEquipment 2025-03-29 03308182 bus:SmallEntities 2024-03-30 2025-03-29 03308182 bus:AuditExemptWithAccountantsReport 2024-03-30 2025-03-29 03308182 bus:FilletedAccounts 2024-03-30 2025-03-29 03308182 bus:SmallCompaniesRegimeForAccounts 2024-03-30 2025-03-29 03308182 bus:RegisteredOffice 2024-03-30 2025-03-29 03308182 bus:Director2 2024-03-30 2025-03-29 03308182 bus:PrivateLimitedCompanyLtd 2024-03-30 2025-03-29 03308182 bus:Agent1 2024-03-30 2025-03-29 03308182 core:Associate1 2024-03-30 2025-03-29 03308182 core:Associate1 countries:AllCountries 2024-03-30 2025-03-29 03308182 core:Associate2 2024-03-30 2025-03-29 03308182 core:Associate2 countries:AllCountries 2024-03-30 2025-03-29 03308182 core:FurnitureFittings 2024-03-30 2025-03-29 03308182 core:FurnitureFittingsToolsEquipment 2024-03-30 2025-03-29 03308182 countries:EnglandWales 2024-03-30 2025-03-29 03308182 2024-03-29 03308182 core:CostValuation 2024-03-29 03308182 core:FurnitureFittingsToolsEquipment 2024-03-29 03308182 2023-03-30 2024-03-29 03308182 2024-03-29 03308182 core:CurrentFinancialInstruments 2024-03-29 03308182 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-29 03308182 core:FurnitureFittingsToolsEquipment 2024-03-29 03308182 core:Associate1 2023-03-30 2024-03-29 03308182 core:Associate2 2023-03-30 2024-03-29 iso4217:GBP xbrli:pure

Registration number: 03308182

PORTLAND LIMITED
Unaudited Filleted Financial Statements
for the Year Ended 29 March 2025

PORTLAND LIMITED

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

PORTLAND LIMITED

Company Information

Director | Mr Jack FRANKEL

Registered office | 8 Rodborough Road London London NW11 8RY

Accountants | Gilbert, Allan & Co 8 Rodborough Road London London NW11 8RY

PORTLAND LIMITED

(Registration number: 03308182)
Balance Sheet as at 29 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,251 | 965
Investment property | 5 | 193,387 | 193,387
Investments | 6 | 741 | 741
|  | 195,379 | 195,093
Current assets |  |  |
Debtors | 7 | 1,432,449 | 739,267
Cash at bank and in hand |  | 2,483 | 48,358
|  | 1,434,932 | 787,625
Creditors: Amounts falling due within one year | 8 | (1,666,839) | (1,036,439)
Net current liabilities |  | (231,907) | (248,814)
Net liabilities |  | (36,528) | (53,721)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (36,628) | (53,821)
Shareholders' deficit |  | (36,528) | (53,721)

For the financial year ending 29 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 February 2026

......................................... Mr Jack FRANKEL Director

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Rodborough Road
London
London
NW11 8RY
England

The principal place of business is:
166a Granville Road
London
NW2 2LD
United Kingdom

These financial statements were authorised for issue by the director on 11 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 20% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 30 March 2024 | 50,645 | 50,645
Additions | 599 | 599
At 29 March 2025 | 51,244 | 51,244
Depreciation
At 30 March 2024 | 49,680 | 49,680
Charge for the year | 313 | 313
At 29 March 2025 | 49,993 | 49,993
Carrying amount
At 29 March 2025 | 1,251 | 1,251
At 29 March 2024 | 965 | 965

5 | Investment properties

| 2025 £
At 30 March | 193,387
At 29 March | 193,387

There has been no valuation of investment property by an independent valuer.

6 | Investments

| 2025 £ | 2024 £
Investments in associates | 741 | 741

Associates | £
Cost
At 30 March 2024 | 741
Provision
Carrying amount
At 29 March 2025 | 741
At 29 March 2024 | 741

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

Aggregate financial information of associates

| 2025 £ | 2024 £

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Associates
Federal Property Investments Ltd |  | Holding | 36% | 36%
| UK |  |  |
Federal Property W&G Ltd |  | Ordinary | 32.5% | 32.5%
| UK |  |  |

Associates
Federal Property Investments Ltd The principal activity of Federal Property Investments Ltd is Property development.
Federal Property W&G Ltd The principal activity of Federal Property W&G Ltd is Property development.

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | - | 4,705
Other debtors | 1,432,449 | 734,562
| 1,432,449 | 739,267

PORTLAND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 100,000 | 100,000
Taxation and social security |  | 1,350 | 529
Accruals and deferred income |  | 4,920 | 5,475
Other creditors |  | 1,560,569 | 930,435
|  | 1,666,839 | 1,036,439

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 100,000 | 100,000