REGISTERED NUMBER: 08083950 (England and Wales)

Portland CSO Trading Limited

Unaudited Financial Statements for the Year Ended 31 August 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J K Smith

J N L Spencer

N S Donald

C J Brennan

P Smith

SECRETARY:

J M Spencer

REGISTERED OFFICE:

1 Toft Green

York

North Yorkshire

Y01 6JT

REGISTERED NUMBER:

08083950 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

814,954

855,136

CURRENT ASSETS

Debtors

5

1,759,862

967,551

Cash at bank

905,188

578,487

2,665,050

1,546,038

CREDITORS

Amounts falling due within one year

6

(1,498,578

)

(989,736

)

NET CURRENT ASSETS

1,166,472

556,302

TOTAL ASSETS LESS CURRENT LIABILITIES

1,981,426

1,411,438

CREDITORS

Amounts falling due after more than one year

7

(280,247

)

(302,947

)

PROVISIONS FOR LIABILITIES

(3,835

)

(2,523

)

NET ASSETS

1,697,344

1,105,968

CAPITAL AND RESERVES

Called up share capital

10

500

500

Retained earnings

1,696,844

1,105,468

SHAREHOLDERS' FUNDS

1,697,344

1,105,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

J N L Spencer - Director

1.	STATUTORY INFORMATION

Portland CSO Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102: The Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) Section 1A and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

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

Going concern

The financial statements have been prepared on a going concern basis. The directors have taken note of the guidance issued by the Financial Reporting Council on Going Concern Assessments in determining that this is the appropriate basis of preparation of the financial statements. This has included reviewing banking and loan facilities in place and detailed forecasting. As a result, the directors believe that the company is well placed to manage business risks successfully despite the uncertainties surrounding the current general economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of the sale of stock tickets in the oil industry. Revenue from the sale of stock tickets is recognised on a monthly basis for each month of cover.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property

- 2% straight line

Office equipment

- 20 - 33% straight line

Motor vehicles

- 20 - 25% straight line

Financial instruments

The Company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans from related parties.

Debt instruments with no stated interest rate that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Debt instruments such as loans, borrowings and other accounts receivable and payable over more than one year are initially measured at the transaction price including transaction cost. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Where material to the financial statements, derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Assets acquired under finance leases and hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2024

890,995

68,808

959,803

Disposals

-

(50,939

)

(50,939

)

At 31 August 2025

890,995

17,869

908,864

DEPRECIATION

At 1 September 2024

68,724

35,943

104,667

Charge for year

12,601

3,574

16,175

Eliminated on disposal

-

(26,932

)

(26,932

)

At 31 August 2025

81,325

12,585

93,910

NET BOOK VALUE

At 31 August 2025

809,670

5,284

814,954

At 31 August 2024

822,271

32,865

855,136

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,759,862

967,551

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

22,700

21,788

Hire purchase contracts (see note 8)

-

27,604

Trade creditors

230,216

311

Taxation and social security

330,360

390,779

Other creditors

915,302

549,254

1,498,578

989,736

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

280,247

302,947

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

178,452

205,590

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

-

27,604

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

27,604

Bank loans

302,947

324,735

302,947

352,339

Bank loans are secured by way of a legal mortgage containing fixed and floating charges over all property or undertaking of the company.

Assets held under hire purchase arrangements are secured by the related assets held under hire purchase contracts. The hire purchase agreements generally include fixed lease payments and a purchase option fee at the end of the lease term.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

22,501

Ordinary

1p

225

225

27,499

A Ordinary

1p

275

275

500

500

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The amount outstanding at the year end was £514 (2024: £514).

12.	RELATED PARTY DISCLOSURES

Entities under common control

During the year the company entered into transactions, in the ordinary course of business, with other related entities under common control. The balances outstanding at 31 August 2025 are as follows:

2025

2024

£

£

Amounts due from

1,137,371

631,590

Amounts due to

(161,460

)

-

Amounts due from and to entities under common control are included within other debtors and other creditors respectively. Outstanding balances are unsecured and interest free.

Other related parties

2025

2024

£

£

Amounts due from

41,354

41,354

Amounts owed are repayable on demand. Interest is charged at 3% per annum.