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COMPANY REGISTRATION NUMBER: 4367259
Portico Construction Limited
Filleted Unaudited Financial Statements
31 December 2023
Portico Construction Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
Fixed assets
Investments
3
6,024
6,024
Current assets
Debtors
4
656,425
656,425
---------
---------
Net current assets
656,425
656,425
---------
---------
Total assets less current liabilities
662,449
662,449
Creditors: amounts falling due after more than one year
5
841,584
800,073
---------
---------
Net liabilities
( 179,135)
( 137,624)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 179,235)
( 137,724)
---------
---------
Shareholders deficit
( 179,135)
( 137,624)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Portico Construction Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Visdirect Services Ltd
Viscorp Services Ltd
Director
Director
Mr.P H Gaskell
Director
Company registration number: 4367259
Portico Construction Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Wolsey Mansions, Main Avenue, Northwood, Middlesex, HA6 2HL.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in euros, which is the functional currency of the entity.
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Investments
Fixed asset investments are initially recorded at cost.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
3. Investments
Other investments other than loans
Cost
At 1 January 2023 and 31 December 2023
6,024
-------
Impairment
At 1 January 2023 and 31 December 2023
-------
Carrying amount
At 31 December 2023
6,024
-------
At 31 December 2022
6,024
-------
Holding of more than 20%
The company owns more than 20% of the share capital of the following companies:
Company Country of registration Shares held
Subsidiary undertaking or incorporation Class %
Pinsapo Inversiones,SL Spain Ordinary 100.00
Ortiga Inversiones,SL Spain Ordinary 100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
December December
2023 2022
Pinsapo Inversiones,SL
(536,015)
(536,015)
Ortiga Inversiones,SL
(222,553)
(222,553)
Profit and (loss) for the year
2023 2022
Pinsapo Inversiones,SL
147,250
Ortiga Inversiones,SL
57,339
The investments have been valued at market value by the director.
4. Debtors
2023
2022
Amounts owed by group undertakings and undertakings in which the company has a participating interest
656,425
656,425
---------
---------
Debtors include an amount of € 656,425(2022:€ 656,425)) which is due after more than one year.
5. Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and undertakings in which the company has a participating interest
841,584
800,073
---------
---------
6. Related party transactions
The ultimate controlling party are the following since January 2017,namely Maureen Investment Company Ltd, Lisa Investment Company Ltd and Cragsten Jersey Ltd. At31December2023 the company was owed the following by its two subsidiary companies: €536,015(2022:€536,015)by Pinsapo Inversiones,SL; and €222,553(2022:€222,553)by Ortiga Inversiones,SL. The company also owed the three shareholders ,Lisa Investment Company Ltd,Cragsten Jersey Ltd, and Maureen Investment Company Ltd.a total of €841,584