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REGISTERED NUMBER: 10492986 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED

ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED (REGISTERED NUMBER: 10492986)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: N A Alassaf
M A Alassaf





REGISTERED OFFICE: 6 Chesterfield Gardens
London
W1J 5BQ





REGISTERED NUMBER: 10492986 (England and Wales)





ACCOUNTANTS: George Hay & Company
Chartered Accountants
83 Cambridge Street
London
SW1V 4PS

ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED (REGISTERED NUMBER: 10492986)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 139,698 161,766

CURRENT ASSETS
Debtors 5 115,890 111,362
Cash at bank 1,067,032 1,264,743
1,182,922 1,376,105
CREDITORS
Amounts falling due within one year 6 2,438,602 2,441,233
NET CURRENT LIABILITIES (1,255,680 ) (1,065,128 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,115,982

)

(903,362

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,116,082 ) (903,462 )
(1,115,982 ) (903,362 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:





N A Alassaf - Director


ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED (REGISTERED NUMBER: 10492986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Alassaf Brothers Portfolio 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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on a going concern basis. The company has obtained undertakings from its directors that they will continue to support the company for at least 12 months from the date of approval of the Financial Statements and meet all third party liabilities as they become due. Given this understanding, the directors consider it appropriate to adopt the going concern basis in preparing the financial statements.

Financial instruments
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED (REGISTERED NUMBER: 10492986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments are carried at fair value. Revaluation gains/losses and realised gains/losses are recognised in the Profit and Loss Account. Deferred tax is provided on the gains or losses at the rate expected to apply when the investments are sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st December 2022 161,766
Additions 199,547
Disposals (199,547 )
Revaluations (22,068 )
At 30th November 2023 139,698
NET BOOK VALUE
At 30th November 2023 139,698
At 30th November 2022 161,766

Cost or valuation at 30th November 2023 is represented by:

Other
investments
£   
Valuation in 2022 (403,267 )
Valuation in 2023 (22,068 )
Cost 565,033
139,698

The investments are traded on a recognised stock exchange and are stated at market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,143 10,272
Deferred tax asset 106,454 100,817
Prepayments 293 273
115,890 111,362

ALASSAF BROTHERS PORTFOLIO MANAGEMENT
LIMITED (REGISTERED NUMBER: 10492986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes - 781
Pension - 157
Directors' current accounts 2,425,861 2,425,916
Accrued expenses 12,741 14,379
2,438,602 2,441,233

7. RELATED PARTY DISCLOSURES

Included in other creditors is £1,212,578 (2022 - £1,212,633) due to Nasser Alassaf and £1,213,283 (2022 - £1,213,283) due to Mohammed Alassaf in respect of their directors' current account balances as at 30 November 2023

The loans are interest free and repayable on demand.