Portalway LLP OC329863 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the supply of blinds. Digita Accounts Production Advanced 6.30.9574.0 true true OC329863 2024-04-01 2025-03-31 OC329863 2025-03-31 OC329863 core:OtherReservesSubtotal 2025-03-31 OC329863 core:CurrentFinancialInstruments 2025-03-31 OC329863 core:Non-currentFinancialInstruments 2025-03-31 OC329863 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 OC329863 core:WithinOneYear 2025-03-31 OC329863 bus:SmallEntities 2024-04-01 2025-03-31 OC329863 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC329863 bus:FilletedAccounts 2024-04-01 2025-03-31 OC329863 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC329863 bus:PartnerLLP1 2024-04-01 2025-03-31 OC329863 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC329863 countries:AllCountries 2024-04-01 2025-03-31 OC329863 2023-05-01 2024-03-31 OC329863 2024-03-31 OC329863 core:OtherReservesSubtotal 2024-03-31 OC329863 core:CurrentFinancialInstruments 2024-03-31 OC329863 core:Non-currentFinancialInstruments 2024-03-31 OC329863 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC329863 core:WithinOneYear 2024-03-31 iso4217:GBP xbrli:pure

Registration number: OC329863

Portalway LLP
trading as Portal Powered Blinds
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Portalway LLP
trading as Portal Powered Blinds

Contents

Financial Statements | 1 to 6
Balance Sheet | 1
Statement of Changes in Members’ Interests | 3
Notes to the Financial Statements | 4

Portalway LLP
trading as Portal Powered Blinds

(Registration number: OC329863)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Debtors | 3 | - | 2,516
Cash and short-term deposits |  | 101 | 14
|  | 101 | 2,530
Creditors: Amounts falling due within one year | 4 | (28,296) | (27,438)
Total assets less current liabilities |  | (28,195) | (24,908)
Creditors: Amounts falling due after more than one year | 5 | (253) | (1,250)
Net liabilities attributable to members |  | (28,448) | (26,158)
Represented by: |  |  |
Members’ other interests |  |  |
Members' capital classified as equity |  | (26,158) | (24,103)
Other reserves |  | (2,290) | (2,055)
|  | (28,448) | (26,158)
|  | (28,448) | (26,158)
Total members' interests |  |  |
Equity |  | (28,448) | (26,158)
|  | (28,448) | (26,158)

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

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

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Portalway LLP (registered number OC329863) were approved by the Board and authorised for issue on 23 June 2026. They were signed on behalf of the limited liability partnership by:

Portalway LLP
trading as Portal Powered Blinds

(Registration number: OC329863)
Balance Sheet as at 31 March 2025

......................................... Mr P Bate Designated member

Portalway LLP
trading as Portal Powered Blinds

Statement of Changes in Members’ Interests
At 31 March 2025

| Equity |  |
| Members' capital £ | Total equity £ | Total 2025 £
Members' interest at 1 April 2024 | (26,158) | (26,158) | (26,158)
Loss for the financial year available for discretionary division among members | (2,290) | (2,290) | (2,290)
At 31 March 2025 | (28,448) | (28,448) | (28,448)

| Equity |  |
| Members' capital £ | Total equity £ | Total 2024 £
Members' interest at 1 May 2023 | (61,735) | (61,735) | (61,735)
Loss for the financial year available for discretionary division among members | (2,055) | (2,055) | (2,055)
Members' interests after total comprehensive income | (63,790) | (63,790) | (63,790)
Members’ capital introduced | 37,632 | 37,632 | 37,632
At 31 March 2024 | (26,158) | (26,158) | (26,158)

Portalway LLP
trading as Portal Powered Blinds

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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.
The functional currency of Portalway LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Going concern

The financial statements have been prepared on a going concern basis.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Portalway LLP
trading as Portal Powered Blinds

Notes to the Financial Statements for the Year Ended 31 March 2025

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 limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

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 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 limited liability partnership 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.

2 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 2 (2024 - 3).

Portalway LLP
trading as Portal Powered Blinds

Notes to the Financial Statements for the Year Ended 31 March 2025

3 | Debtors

| 2025 £ | 2024 £
Trade debtors | - | 2,516
Total current trade and other debtors | - | 2,516

4 | Creditors: Amounts falling due within one year

| 2025 £ | 2024 £
Bank loans and overdrafts | 1,000 | 917
Trade creditors | 6,985 | 6,627
Other creditors | 16,859 | 18,174
Accruals and deferred income | 3,452 | 1,720
| 28,296 | 27,438

5 | Creditors: Amounts falling due after more than one year

| 2025 £ | 2024 £
Bank loans and overdrafts | 253 | 1,250

6 | Related party transactions

Summary of transactions with other related parties

At the year end there was a balance of £14,979 (2024 - £14,979) owed from The Portal Co (NE) Limited, a company in which Mr P Bate and Mrs S Bate are shareholders. This arose due to expenses paid, which were recharged at no profit or loss.
At the year end there was a balance of £31,838 (2024 - £33,154) owed to Nortech Garage Doors Limited, a company in which Mr P Bate, Mrs S Bate and Mr S Bate are shareholders. This arose due to expenses paid, which were recharged at no profit or loss.