Company registration number 09580236 (England and Wales)
PORTMAN ENTERPRISES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PORTMAN ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PORTMAN ENTERPRISES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
3,571,143
3,571,143
Current assets
Cash at bank and in hand
1,403
1,421
Creditors: amounts falling due within one year
4
(159,210)
(154,420)
Net current liabilities
(157,807)
(152,999)
Net assets
3,413,336
3,418,144
Capital and reserves
Called up share capital
12,862
12,862
Share premium account
1,565,163
1,565,163
Profit and loss reserves
1,835,311
1,840,119
Total equity
3,413,336
3,418,144
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 2 May 2025 and are signed on its behalf by:
Mr M Douglas
Director
Company registration number 09580236 (England and Wales)
PORTMAN ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Portman Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.3
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
PORTMAN ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,571,143
3,571,143
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
155,960
153,320
Other creditors
3,250
1,100
159,210
154,420
5
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Matthew Wilkinson BSc FCA
Statutory Auditor:
Moore Green
Date of audit report:
2 May 2025
6
Related party transactions
Included in amounts owed to group undertakings are the following balances owed to related group companies:-
£155,960 (2023: £153,320) due to Daro Group Limited
Dividends received from group companies totalled:-
£NIL (2023: £150,000) from Daro Group Limited
Dividends paid to parent company totalled:-
£NIL (2023: £300,000) to Intellego Technologies AB
PORTMAN ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
7
Directors' transactions
There are no such transactions that require disclosure.
8
Parent company
The ultimate parent company is Intellego Technologies AB, a company incorporated in Sweden.