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REGISTERED NUMBER: 04763224 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

PORTOBELLO TRADING UK LIMITED

PORTOBELLO TRADING UK LIMITED (REGISTERED NUMBER: 04763224)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORTOBELLO TRADING UK LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S N Gover
Ms H E Calder





SECRETARY: Ms H E Calder





REGISTERED OFFICE: 369-371 London Road
St Leonards-on-Sea
East Sussex
TN37 6PA





REGISTERED NUMBER: 04763224 (England and Wales)





ACCOUNTANTS: MDJ Services Limited
Unit A6
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH

PORTOBELLO TRADING UK LIMITED (REGISTERED NUMBER: 04763224)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,419 23,061

CURRENT ASSETS
Stocks 79,800 78,786
Cash at bank and in hand 169,679 179,999
249,479 258,785
CREDITORS
Amounts falling due within one year 5 20,432 25,040
NET CURRENT ASSETS 229,047 233,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,466

256,806

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 246,464 256,804
SHAREHOLDERS' FUNDS 246,466 256,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





Ms H E Calder - Director


PORTOBELLO TRADING UK LIMITED (REGISTERED NUMBER: 04763224)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Portobello Trading UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

PORTOBELLO TRADING UK LIMITED (REGISTERED NUMBER: 04763224)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023
and 31 August 2024 7,550 101,577 3,183 112,310
DEPRECIATION
At 1 September 2023 5,961 80,558 2,730 89,249
Charge for year 238 5,255 149 5,642
At 31 August 2024 6,199 85,813 2,879 94,891
NET BOOK VALUE
At 31 August 2024 1,351 15,764 304 17,419
At 31 August 2023 1,589 21,019 453 23,061

PORTOBELLO TRADING UK LIMITED (REGISTERED NUMBER: 04763224)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 30,900
DEPRECIATION
At 1 September 2023 17,864
Charge for year 3,259
At 31 August 2024 21,123
NET BOOK VALUE
At 31 August 2024 9,777
At 31 August 2023 13,036

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Finance leases - 2,400
Tax 7,889 10,600
Social security and other taxes 372 352
VAT 8,414 8,278
Other creditors 319 165
Directors' current accounts 738 625
Accrued expenses 2,700 2,620
20,432 25,040

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
2 Ordinary £1 2 2