PORTMAIN INVESTMENTS LTD

Company Registration Number:
04144600 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

PORTMAIN INVESTMENTS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

PORTMAIN INVESTMENTS LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 3,380,000 1,745,000
Investments: 4 169,152 433,152
Total fixed assets: 3,549,152 2,178,152
Current assets
Debtors: 5 424,431 49,497
Cash at bank and in hand: 404,130 85,497
Total current assets: 828,561 134,994
Creditors: amounts falling due within one year: 6 (95,648) (145,642)
Net current assets (liabilities): 732,913 (10,648)
Total assets less current liabilities: 4,282,065 2,167,504
Creditors: amounts falling due after more than one year: 7 (923,275) (572,877)
Provision for liabilities: (517,719) (108,969)
Total net assets (liabilities): 2,841,071 1,485,658
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,840,971 1,485,558
Shareholders funds: 2,841,071 1,485,658

The notes form part of these financial statements

PORTMAIN INVESTMENTS LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 April 2024
and signed on behalf of the board by:

Name: Mr R J Davies
Status: Director

The notes form part of these financial statements

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoiced value of management services and property investment services provided, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Investment properties - nil straight line Plant and machinery - 20% straight line Motor vehicles - 20% reducing balance Fixtures and fittings - 20% straight line

Valuation and information policy

Investment properties are included in the balance sheet at their fair value at the balance sheet date. The resulting aggregate surplus or deficit is recognised in the income statement. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Other accounting policies

Deferred Tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Hire Purchase and leasing commitments Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 1,842,601
Additions 1,635,000
At 31 December 2023 3,477,601
Depreciation
At 01 January 2023 97,601
At 31 December 2023 97,601
Net book value
At 31 December 2023 3,380,000
At 31 December 2022 1,745,000

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed investments

Shares in group and participating interests: Cost brought forward £433,152 Disposals/repayments £264,000 Cost carried forward £169,152 Net book value 31 December 2023 £169,152 Net book value 1 January 2023 £433,152

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

Amounts owed by group undertakings and participating interests £315,000 (2022: £28,000) .Other Debtors £109,431 (2022: £21,497)

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

Bank loans and overdrafts (secured) £16,848 (2022: £32,581) Bank loans and overdrafts £nil (2022: £10,648) Trade creditors £1,468 (2022: £1,501) Other creditors £10,167 (£9,103)

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts (secured) £423,275 (2022: £548,746) Bank loans and overdrafts £nil (2022: £24,131) Other creditors £500,000 (2022: £nil)

PORTMAIN INVESTMENTS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Loans to directors

Name of director receiving advance or credit: Mr R J Davies
Description of the loan: Advance
£
Balance at 01 January 2023 0
Advances or credits made: 122,560
Advances or credits repaid: 19,089
Balance at 31 December 2023 103,471