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Registration number: 10021917

St George Portslade Ltd

Unaudited Filleted Financial Statements

for the Year Ended 27 February 2025

 

St George Portslade Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

St George Portslade Ltd

Company Information

Director

A Towner

Registered office

2 Valley Drive
Portslade
Brighton
Ease Sussex
BN41 2TQ

Accountants

Herbert Lewis Williams & Associates Limited
Chartered Certified Accountants
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

St George Portslade Ltd

(Registration number: 10021917)
Balance Sheet as at 27 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

249

290

Current assets

 

Stocks

5

4,000

5,605

Debtors

6

13,057

26,748

Cash at bank and in hand

 

3,174

3,681

 

20,231

36,034

Creditors: Amounts falling due within one year

7

(55,224)

(34,711)

Net current (liabilities)/assets

 

(34,993)

1,323

Total assets less current liabilities

 

(34,744)

1,613

Creditors: Amounts falling due after more than one year

7

(2,000)

(8,000)

Net liabilities

 

(36,744)

(6,387)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(36,844)

(6,487)

Shareholders' deficit

 

(36,744)

(6,387)

For the financial year ending 27 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2025
 

 

St George Portslade Ltd

(Registration number: 10021917)
Balance Sheet as at 27 February 2025

.........................................
A Towner
Director

 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Valley Drive
Portslade
Brighton
Ease Sussex
BN41 2TQ
England and Wales

These financial statements were authorised for issue by the director on 28 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

Straight Line - 15%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 28 February 2024

8,449

8,449

Additions

1,200

1,200

At 27 February 2025

9,649

9,649

Depreciation

At 28 February 2024

8,159

8,159

Charge for the year

1,241

1,241

At 27 February 2025

9,400

9,400

Carrying amount

At 27 February 2025

249

249

At 27 February 2024

290

290

5

Stocks

2025
£

2024
£

Other inventories

4,000

5,605

6

Debtors

Current

2025
£

2024
£

Prepayments

1,286

1,212

Other debtors

11,771

25,536

 

13,057

26,748

 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

20,717

18,936

Trade creditors

 

8,603

14,191

Taxation and social security

 

530

156

Accruals and deferred income

 

927

321

Other creditors

 

24,447

1,107

 

55,224

34,711

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

2,000

8,000

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

St George Portslade Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2025

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

2,000

8,000

Current loans and borrowings

2025
£

2024
£

Bank borrowings

6,000

6,000

Bank overdrafts

14,717

12,936

20,717

18,936