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Registration number: 01402016

Portman Square Holdings Ltd

Unaudited Filleted Abridged Financial Statements

for the Period from 24 June 2022 to 30 June 2023

image-name
 

Portman Square Holdings Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Portman Square Holdings Ltd

Company Information

Directors

Mr Yaser Hachem Martini

Mr Michael Alan Brian Harrison

Mr Geoffrey Randall

Company secretary

Mrs Claire Laura Gray

Registered office

9 The Clares
Caterham
Surrey
CR3 6RW

Solicitors

Star Legal Ltd
40 High Street
Thornbury
Bristol
BS35 2AJ

Accountants

Integer
Chartered Accountants
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

 

Portman Square Holdings Ltd

(Registration number: 01402016)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2

2

Current assets

 

Debtors

80,159

274,727

Creditors: Amounts falling due within one year

-

(441)

Net current assets

 

80,159

274,286

Total assets less current liabilities

 

80,161

274,288

Accruals and deferred income

 

(3,700)

(5,550)

Net assets

 

76,461

268,738

Capital and reserves

 

Called up share capital

5

76,121

76,121

Retained earnings

340

192,617

Shareholders' funds

 

76,461

268,738

For the financial period ending 30 June 2023 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 period 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been 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 29 February 2024 and signed on its behalf by:
 

.........................................
Mr Geoffrey Randall
Director

 

Portman Square Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

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 abridged 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 abridged 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.

Going concern

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

Tax

The tax expense for the period comprises 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 current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax liabilities are provided in full. Deferred tax assets are recognised to the extent that it is probable that the underlying timing differences will be able to be offset against future taxable income.

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

Office Equipment

33% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

 

Portman Square Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 4).

 

Portman Square Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 24 June 2022

3,831

3,831

Disposals

(3,831)

(3,831)

At 30 June 2023

-

-

Depreciation

At 24 June 2022

3,831

3,831

Eliminated on disposal

(3,831)

(3,831)

At 30 June 2023

-

-

Carrying amount

At 30 June 2023

-

-

4

Investments

Total
£

Cost or valuation

At 24 June 2022

2

Provision

Carrying amount

At 30 June 2023

2

At 23 June 2022

2

2023
£

2022
£

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Portman Square Holdings Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

PSH (Croydon) Ltd

Englnad

Ordinary shares

100%

100%

PSH Commercial Ltd

England

Ordinary shares

100%

100%

Portman Square Estates Ltd

England

Ordinary shares

100%

100%

Portman Square Estates Ltd

England

Ordinary shares

100%

100%

Subsidiary undertakings

PSH (Croydon) Ltd

The principal activity of PSH (Croydon) Ltd is Property trading.

PSH Commercial Ltd

The principal activity of PSH Commercial Ltd is Dormant.

Portman Square Estates Ltd

The principal activity of Portman Square Estates Ltd is Dormant.

Portman Square Estates Ltd

The principal activity of Portman Square Estates Ltd is Dormant.

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.01 each

7,612,100

76,121

7,612,100

76,121

         

6

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £0.0635 (2022 - £Nil) per ordinary share

 

483,369

 

-