Portland Court Management Limited - Limited company accounts 25.1

REGISTERED NUMBER: 01421604 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2025

FOR

PORTLAND COURT MANAGEMENT LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

S J Wrigley

F W Brennan

J P Dalton

M A Hunter

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

01421604 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st October 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st November 2024 to the date of this report.

S J Wrigley

F W Brennan

J P Dalton

M A Hunter

Other changes in directors holding office are as follows:

D J Imrie - resigned 14th May 2025

J C Walters Baguley - appointed 13th October 2025

J C Walters Baguley and S A Hill ceased to be directors after 31st October 2025 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S J Wrigley - Director

22nd October 2026

INCOME

296,484

279,927

Service Charge expenditure

326,081

360,095

(29,597

)

(80,168

)

Other operating income

5,090

4,990

OPERATING LOSS

(24,507

)

(75,178

)

Interest receivable and similar income

731

420

LOSS BEFORE TAXATION

(23,776

)

(74,758

)

Tax on loss

4

-

LOSS FOR THE FINANCIAL YEAR

(23,776

)

(74,758

)

CURRENT ASSETS

Debtors

5

193,813

177,496

CREDITORS

Amounts falling due within one year

6

163,657

177,340

NET CURRENT ASSETS

30,156

156

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,156

156

CREDITORS

Amounts falling due after more than one year

7

30,000

-

NET ASSETS

156

CAPITAL AND RESERVES

Called up share capital

8

156

SHAREHOLDERS' FUNDS

156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd October 2026 and were signed on its behalf by:

S J Wrigley - Director

1.	STATUTORY INFORMATION

Portland Court Management 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.

Income

Income represents service charge contributions receivable from the lessees in specified proportions based on the budget prepared by the managing agent at the beginning of each year, and in accordance with the provisions of each lease. The company receives these amounts as agent, which are then held on trust and, and therefore do not constitute turnover.

Presentation of the income statement

The presentation of the Income Statement on page 3 has been modified from the prescribed format for company accounts in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the management of the property.

3.	EMPLOYEES AND DIRECTORS

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

31/10/25

31/10/24

£

Directors' remuneration

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31st October 2025 nor for the year ended 31st October 2024.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Trade debtors

48,585

23,897

Service charge deficit

23,776

69,549

Reserve fund deficit

43,355

-

Other debtors

27,184

2,385

Bank and cash balances held by managing agent

31,134

78,033

Prepayments

19,779

3,632

193,813

177,496

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

Other loan

30,000

-

Trade creditors

46,242

23,074

Reserve Fund

-

142,611

Social security and other taxes

98

944

Accrued expenses

87,317

10,711

163,657

177,340

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/25

31/10/24

£

Other loan

30,000

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/25

31/10/24

value:

£

78

"A" Ordinary

£1

78

"B" Ordinary

£1

78

156

The "A" shares carry voting rights and are held by the freeholder, Scafell Securities Ltd. The lessee of a flat is entitled to hold one "B" share which does not carry voting rights. At 31st October 2025 the freeholder had an interest in no (2024 - no) "B" shares by virtue of the fact that no (2024 - no) long leases remained unsold at that date.

9.

RESERVES

Retained

earnings

£

Deficit for the year

(23,776

)

Transfer to Service Charge Account
Deficit

23,776

At 31st October 2025

-

10.	RELATED PARTY DISCLOSURES

S A Hill is a director and controlling shareholder in the ultimate controlling company, Gates Investments Ltd. The freeholder, Scafell Securities Ltd, is a subsidiary company of Gates Investments Ltd.

Included within creditors is a loan due to the freeholder, Scafell Securities Ltd. The loan was provided to assist with the financing of the cost of major works. Interest on this loan is being charged at NatWest bank base rate plus 1% per annum, subject to a minimum of 4% per annum, and is being compounded quarterly. The intention is that the loan will be fully repaid by 31st December 2027.

During the year a salary of £31,403 (2024 - £31,403) was paid to J P Dalton for his services as a caretaker of the property. Employer pension contributions of £2,292 (2024 - £2,269) were also paid in relation to this salary.

The company is a mutual trading company and as such received income in the form of service charges from lessees, some of whom are directors of the company. Service charges receivable from the directors are on the same basis as for all of the other lessees.