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REGISTERED NUMBER: 11080058 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Portchester Homes Limited

Portchester Homes Limited (Registered number: 11080058)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Portchester Homes Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: P D A Schiavo





REGISTERED OFFICE: White Lyon House
Perry Hill
Worplesdon
Surrey
GU3 3RE





REGISTERED NUMBER: 11080058 (England and Wales)

Portchester Homes Limited (Registered number: 11080058)

Abridged Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,437,842 -

CURRENT ASSETS
Debtors 50,001 50,001
Cash at bank 99 99
50,100 50,100
CREDITORS
Amounts falling due within one year 1,510,196 2,452
NET CURRENT (LIABILITIES)/ASSETS (1,460,096 ) 47,648
TOTAL ASSETS LESS CURRENT LIABILITIES (22,254 ) 47,648

CREDITORS
Amounts falling due after more than one
year

46,231

47,648
NET LIABILITIES (68,485 ) -

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (68,486 ) (1 )
(68,485 ) -

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Portchester Homes Limited (Registered number: 11080058)

Abridged Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 September 2022 and were signed by:





P D A Schiavo - Director


Portchester Homes Limited (Registered number: 11080058)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Portchester Homes 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.

At the balance sheet date the company had net liabilities of £68,485. The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the continuing support of the company creditors to provide adequate financial support and by not seeking repayment of amounts owed to them. The directors have no reason to believe this support is not forthcoming and accordingly believe it appropriate to prepare the financial statements on the going concern basis.

Government grants
Grants which relate to revenue are recognised in income in the period the related costs are incurred by the company for which the grant is intended to compensate.

Investment property
Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable property, adjusted if necessary for any difference in the nature, location or condition of the specific investment property asset. No depreciation is provided, and any surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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.

Other income
Other Income comprises revenue recognised by the company in respect of rental income, exclusive of Value Added Tax. Rental income is received one month in advance and is recognised over the period accrued.

Portchester Homes Limited (Registered number: 11080058)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
COST
Additions 1,437,842
At 31 December 2021 1,437,842
NET BOOK VALUE
At 31 December 2021 1,437,842

The 2021 valuations were made by the director on an open market value for existing use basis.

5. RELATED PARTY DISCLOSURES

Entities under common control

At the year end £50,000 (2020: £50,000) was owed to the company and £239,760 (2020: £100) was owed by the company to entities under common control.