Registration number: 06896866

The Portal Co (NE) Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

The Portal Co (NE) Limited

(Registration number: 06896866)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	288	324
Current assets
Debtors	5	57,034	223,321
Cash at bank and in hand		10,195	720
		67,229	224,041
Creditors: Amounts falling due within one year	6	(81,692)	(229,619)
Net current liabilities		(14,463)	(5,578)
Total assets less current liabilities		(14,175)	(5,254)
Creditors: Amounts falling due after more than one year	6	-	(3,000)
Provisions for liabilities		-	(999)
Net liabilities		(14,175)	(9,253)
Capital and reserves
Called up share capital	7	200	200
Retained earnings		(14,375)	(9,453)
Shareholders' deficit		(14,175)	(9,253)

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 May 2026 and signed on its behalf by:
 

......................................... Mr P Bate Director

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Borough Hall
Wellway
Morpeth
Northumberland
NE61 1BN

The principal place of business is:
33c Moorland Way
Nelson Park
Cramington
Northumberland
NE23 1WE

These financial statements were authorised for issue by the Board on 26 May 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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
Land and buildings	5% Straight line

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.

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.

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 June 2024	720	720
At 31 May 2025	720	720
Depreciation
At 1 June 2024	396	396
Charge for the year	36	36
At 31 May 2025	432	432
Carrying amount
At 31 May 2025	288	288
At 31 May 2024	324	324

Included within the net book value of land and buildings above is £288 (2024 - £324) in respect of freehold land and buildings.
 

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	4,387	8,050
Other debtors	52,647	215,271
	57,034	223,321

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	3,000	3,000
Trade creditors		24,184	22,263
Taxation and social security		4,747	18,595
Accruals and deferred income		7,037	3,517
Other creditors		42,724	182,244
		81,692	229,619

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	-	3,000

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A Ordinary Shares of £1 each	150	150	150	150
B Ordinary Shares of £1 each	50	50	50	50
	200	200	200	200

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	-	3,000

Current loans and borrowings

	2025 £	2024 £
Other borrowings	3,000	3,000

The Portal Co (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Other borrowings

Bounce Back Loan is denominated in with a nominal interest rate of 2.5%. The carrying amount at year end is £3,000 (2024 - £6,000).

9	Related party transactions

Transactions with directors

2025	At 1 June 2024 £	Repayments by director £	At 31 May 2025 £
Mr P Bate
Amounts advanced and repaid	162,626	(165,566)	(2,940)

2024	At 1 June 2023 £	Advances to director £	At 31 May 2024 £
Mr P Bate
Amounts advanced and repaid	162,626	-	162,626

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	7,200	7,200

Summary of transactions with other related parties

Portalway LLP
Mr P Bate, Mrs S Bate and Mr S Bate are designated members of Portalway LLP.
This arose due to expenses paid for on behalf of Portalway LLP, which were recharged at no profit or loss. At the balance sheet date, the amount due to Portalway LLP was £14,979 (2024 - (£14,979).

Nortech Garage Doors Limited
Mr P Bate and Mr S Bate are directors of Nortech Garage Doors Limited.
This arose due to expenses paid for by Nortech Garage Doors Limited, which were recharged at no profit or loss. At the balance sheet date, the amount due to Nortech Garage Doors Limited was £24,805 (2024 - £167,265).