Portico Business Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02567891 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Portico Business Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S R Harrison

SECRETARY:

Mrs B J Harrison

REGISTERED OFFICE:

7-9 North Parade Buildings

Bath

BA1 1NS

REGISTERED NUMBER:

02567891 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

Investments

5

52,085

Investment property

6

2,645,000

2,697,085

CURRENT ASSETS

Debtors

7

37,437

68,517

Cash at bank

2,618

14,909

40,055

83,426

CREDITORS

Amounts falling due within one year

8

966,103

501,121

NET CURRENT LIABILITIES

(926,048

)

(417,695

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,771,037

2,279,390

CREDITORS

Amounts falling due after more than one
year

9

1,851,000

1,945,003

NET (LIABILITIES)/ASSETS

(79,963

)

334,387

CAPITAL AND RESERVES

Called up share capital

11

40,500

Revaluation reserve

12

347,500

Capital redemption reserve

10,962

Retained earnings

(478,925

)

(64,575

)

SHAREHOLDERS' FUNDS

(79,963

)

334,387

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

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

The director acknowledges his 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 director and authorised for issue on 20 May 2026 and were signed by:

S R Harrison - Director

1.	STATUTORY INFORMATION

Portico Business Services 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on straight line basis

Computer equipment

-

33% on straight line basis

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1 January 2025

and 31 December 2025

3,897

16,775

20,672

DEPRECIATION

At 1 January 2025

and 31 December 2025

3,897

16,775

20,672

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

52,085

NET BOOK VALUE

At 31 December 2025

52,085

At 31 December 2024

52,085

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

2,645,000

NET BOOK VALUE

At 31 December 2025

2,645,000

At 31 December 2024

2,645,000

The freehold property of 7-9 North Parade Buildings was valued at an open market value of £2,645,000.

The company has elected under the provisions of FRS102 to recognise this valuation as the deemed cost of the property. In the opinion of the directors, this valuation accurately reflects the value of the property at 31 December 2024.

Fair value at 31 December 2025 is represented by:

£

Valuation in 2014

2,440,000

Valuation in 2024

205,000

2,645,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

17,390

Other debtors

12,459

-

VAT

24,745

16,709

Prepayments and accrued income

233

34,418

37,437

68,517

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

6,667

139,000

Trade creditors

3,964

7,981

Amounts owed to group undertakings

948,571

336,381

Social security and other taxes

1,054

2,579

Other creditors

-

1,200

Accruals and deferred income

5,847

13,980

966,103

501,121

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

1,851,000

1,945,003

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

1,857,667

2,084,003

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

40,500

Ordinary

£1

40,500

12.

RESERVES

Revaluation

reserve

£

At 1 January 2025

and 31 December 2025

347,500

13.	RELATED PARTY DISCLOSURES

Portico Designs Limited

Portico Designs Ltd is the wholly owned subsidiary of Portico Business Services Ltd.

During the year, the company made sales of £7,290 (2024 - £107,480) to Portico Designs Ltd.

At the year end there is an intercompany loan balance of £948,571 (2024 - £336,381) owed to Portico Designs Ltd.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is S R Harrison.

S R Harrison holds a controlling interest in the issued share capital of the company.