Registered number
06227091
PORTSMOUTH & CAPITAL LIMITED
Unaudited Filleted Accounts
30 April 2023
PORTSMOUTH & CAPITAL LIMITED
Registered number: 06227091
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 618,063 609,669
Current assets
Debtors 4 4,403 2,709
Cash at bank and in hand 1,827 2,165
6,230 4,874
Creditors: amounts falling due within one year 5 (8,676) (1,150)
Net current (liabilities)/assets (2,446) 3,724
Total assets less current liabilities 615,617 613,393
Creditors: amounts falling due after more than one year 6 (406,738) (370,478)
Net assets 208,879 242,915
Capital and reserves
Called up share capital 3 3
Revaluation reserve 7 162,575 162,575
Profit and loss account 46,301 80,337
Shareholders' funds 208,879 242,915
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T M Doran
Director
Approved by the board on 19 January 2024
PORTSMOUTH & CAPITAL LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable. Rental is prepaid quarterly and any prepaid rental income is shown as deferred income in other creditors at the year end.
Tangible fixed assets
No depreciation is provided in respect of freehold investment properties
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2022 609,669
Additions 8,394
At 30 April 2023 618,063
Depreciation
At 30 April 2023 -
Net book value
At 30 April 2023 618,063
At 30 April 2022 609,669
In the opinion of the directors the market value of the investment property was equivalent to the net book value at 30 April 2023
.
Freehold land and buildings: 2023 2022
£ £
Historical cost 447,094 447,094
Cumulative depreciation based on historical cost - -
447,094 447,094
4 Debtors 2023 2022
£ £
Other debtors 4,403 2,709
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,527 -
Other creditors 1,149 1,150
8,676 1,150
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 406,738 370,478
7 Revaluation reserve 2023 2022
£ £
At 1 May 2022 162,575 162,575
At 30 April 2023 162,575 162,575
8 Other information
PORTSMOUTH & CAPITAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Harts Farm Way
Havant
PO9 1FA
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