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Company No: 06570409 (England and Wales)

PORTH BEACH HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PORTH BEACH HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PORTH BEACH HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
PORTH BEACH HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,663,585 1,540,654
Investments 4 1,000 1,000
1,664,585 1,541,654
Current assets
Debtors 5 4,889 203,296
Cash at bank and in hand 49,223 23,486
54,112 226,782
Creditors: amounts falling due within one year 6 ( 74,371) ( 210,286)
Net current (liabilities)/assets (20,259) 16,496
Total assets less current liabilities 1,644,326 1,558,150
Provision for liabilities ( 4,339) ( 3,298)
Net assets 1,639,987 1,554,852
Capital and reserves
Called-up share capital 1,251,000 1,251,000
Undistributable reserve 93,517 93,517
Profit and loss account 295,470 210,335
Total shareholder's funds 1,639,987 1,554,852

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Porth Beach Holdings Limited (registered number: 06570409) were approved and authorised for issue by the Board of Directors on 21 November 2024. They were signed on its behalf by:

J E T Cooper
Director
PORTH BEACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PORTH BEACH HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Porth Beach Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Stevens & Bolton LLP, Wey House, Farnham Road, Guildford, Surrey, GU1 4YD.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current 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.

Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, over their estimated useful lives, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director, based on external factors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Fixed asset 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.

Financial instruments

The company holds the following financial instruments:

Short term trade and other debtors and creditors;
Bank loans; and
Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 April 2023 1,540,654 1,540,654
Additions 122,931 122,931
At 31 March 2024 1,663,585 1,663,585
Accumulated depreciation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 1,663,585 1,663,585
At 31 March 2023 1,540,654 1,540,654

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 1,000
At 31 March 2024 1,000
Carrying value at 31 March 2024 1,000
Carrying value at 31 March 2023 1,000

5. Debtors

2024 2023
£ £
Other debtors 4,889 203,296

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 34,755
Trade creditors 7,835 3,050
Corporation tax 28,551 41,836
Other creditors 37,985 130,645
74,371 210,286