Unaudited Financial Statements for the Year Ended 31 December 2024

for

Portland Place Capital Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Sir R M Cohen

M Dodd

D Marks

SECRETARY:

D Marks

REGISTERED OFFICE:

4 Stanley Crescent

London

W11 2NB

REGISTERED NUMBER:

01762860 (England and Wales)

FIXED ASSETS

Tangible assets

4

4,639

-

CURRENT ASSETS

Debtors

5

667,581

473,643

Cash at bank

83,759

56,687

751,340

530,330

CREDITORS

Amounts falling due within one year

6

299,506

143,544

NET CURRENT ASSETS

451,834

386,786

TOTAL ASSETS LESS CURRENT LIABILITIES

456,473

386,786

CAPITAL AND RESERVES

Called up share capital

7

920,000

920,000

Retained earnings

8

(463,527

)

(533,214

)

SHAREHOLDERS' FUNDS

456,473

386,786

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 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 29 September 2025 and were signed on its behalf by:

Sir R M Cohen - Director

1.	STATUTORY INFORMATION

Portland Place Capital Ltd 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.

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.

Going concern

The directors consider that the company will be able to provide business advisory services, and therefore be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. This is based on the projected trading outlook, current cash reserves and an undertaking from the shareholder to support the company. For this reason, the directors consider it appropriate to prepare financial statements on a going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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

33% on cost and 10% on cost

Tangible fixed assets are stated at cost less depreciation.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

19,738

Additions

5,061

At 31 December 2024

24,799

DEPRECIATION

At 1 January 2024

19,738

Charge for year

422

At 31 December 2024

20,160

NET BOOK VALUE

At 31 December 2024

4,639

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

14,605

-

Other debtors

650,456

471,300

Prepayments and accrued income

2,520

2,343

667,581

473,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,742

3,810

Corporation tax

386

312

Social security and other taxes

-

14,370

Other creditors

39,272

40,425

Directors' loan accounts

258,106

84,627

299,506

143,544

Directors' loans totalling £258,106 (2023: £84,627) represent amounts due to Sir R M Cohen, the Company's sole shareholder.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

920,000

Ordinary

1

920,000

920,000

8.

RESERVES

Retained

earnings

£

At 1 January 2024

(533,214

)

Profit for the year

69,687

At 31 December 2024

(463,527

)

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. Net contributions for the year amounted to £528 (2023: £528).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 December 2024, creditors included an amount owed to the director Sir RM Cohen of £258,106 (2023: £84,627). No interest is payable by the Company to Sir RM Cohen on this loan.

11.	RELATED PARTY DISCLOSURES

The following material transactions and balances with The Portland Trust are included in the accounts. Sir RM Cohen is a trustee of The Portland Trust.

31.12.24

31.12.23

£

£

Current assets

25,584

13,245

Turnover

7,860

7,860

Other office cost charges receivable

4,479

5,385

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Sir R M Cohen by virtue of his interest in the issued share capital.