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REGISTERED NUMBER: SC412714 (Scotland)




















Mr So Portobello Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Mr So Portobello Limited (Registered number: SC412714)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mr So Portobello Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr I I Pun



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC412714 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
Edinburgh West End Office
142-144 Princes Street
Edinburgh
EH2 4EQ

Mr So Portobello Limited (Registered number: SC412714)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 7,000 8,400
Tangible assets 5 2,943 5,257
9,943 13,657

CURRENT ASSETS
Stocks 4,000 4,500
Debtors 6 81,417 126,023
Cash at bank and in hand 55,891 114,634
141,308 245,157
CREDITORS
Amounts falling due within one year 7 51,736 87,139
NET CURRENT ASSETS 89,572 158,018
TOTAL ASSETS LESS CURRENT LIABILITIES 99,515 171,675

PROVISIONS FOR LIABILITIES 736 1,314
NET ASSETS 98,779 170,361

Mr So Portobello Limited (Registered number: SC412714)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 98,777 170,359
SHAREHOLDERS' FUNDS 98,779 170,361

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 March 2025 and were signed by:





Mr I I Pun - Director


Mr So Portobello Limited (Registered number: SC412714)

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

1. STATUTORY INFORMATION

Mr So Portobello Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover and revenue recognition
Turnover, which represents net invoiced sales of goods, is recognised at the point when a meal is served or delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, had been amortised evenly over its estimated life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease premium are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Mr So Portobello Limited (Registered number: SC412714)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Provisions for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

Mr So Portobello Limited (Registered number: SC412714)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 9,000 14,000 23,000
AMORTISATION
At 1 January 2024 9,000 5,600 14,600
Charge for year - 1,400 1,400
At 31 December 2024 9,000 7,000 16,000
NET BOOK VALUE
At 31 December 2024 - 7,000 7,000
At 31 December 2023 - 8,400 8,400

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 14,165
DEPRECIATION
At 1 January 2024 8,908
Charge for year 2,314
At 31 December 2024 11,222
NET BOOK VALUE
At 31 December 2024 2,943
At 31 December 2023 5,257

Mr So Portobello Limited (Registered number: SC412714)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 81,417 126,023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,000 4,500
Taxation and social security 34,700 71,993
Other creditors 13,036 10,646
51,736 87,139

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 17,160 17,160
Between one and five years 75,900 85,800
In more than five years - 7,260
93,060 110,220

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr I I Pun
Balance outstanding at start of year 97,819 34,292
Amounts advanced 66,859 67,570
Amounts repaid (112,465 ) (4,043 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,213 97,819

The director's current account is unsecured and have no fixed term of repayment. Interest charged at 2.25% per annum on the outstanding balance.