REGISTERED NUMBER: 09363353 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

AE Portsoken Asset Management Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Schwartz

SECRETARY:

A Harris

REGISTERED OFFICE:

8 Hampstead Gate

1A Frognal

Hampstead

London

NW3 6AL

REGISTERED NUMBER:

09363353 (England and Wales)

ACCOUNTANTS:

Brackman Chopra LLP

Chartered Accountants

8 Hampstead Gate

1 A Frognal

Hampstead

London

NW3 6AL

CURRENT ASSETS

Debtors

75,760

28,150

Cash at bank

389,210

105,233

464,970

133,383

CREDITORS

Amounts falling due within one year

469,167

763,882

NET CURRENT LIABILITIES

(4,197

)

(630,499

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,197

)

(630,499

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,297

)

(630,599

)

(4,197

)

(630,499

)

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2025 and were signed by:

A Schwartz - Director

1.	STATUTORY INFORMATION

AE Portsoken Asset Management 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.

The Company changed its name from Mansell Street Property holdings (UK) Ltd on 5 December 2017.

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.

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.

Financial assets

Financial assets, including trade and other receivables, cash & bank balances, investments and loans from connected and fellow group companies are initially recognised at transaction price and subsequently measured at amortised cost.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from connected and fellow group companies are initially measured at transaction price and subsequently measured at amortised cost.

Derecognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Going concern

The accounts have been prepared on a going concern basis. The Director has agreed to continue to support the Company for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	RELATED PARTY DISCLOSURES

AE TMG Portsoken LLC (incorporated in Delaware)

Parent company

At 31 December 2024 the Company owed £10,261(2023: £714,970) to AE TMG Portsoken LLC. The company was charged £110,000 management fees by AE TMG Portsoken LLC.

AE Portsoken Property Holdings Sarl (incorporated in Luxembourg)

Connected company

At 31 December 2024 the Company owed £13 (2023: £13) to AE Portsoken Property Holdings Sarl.

Loan AE Borehamwood Ltd (incorporated in UK)

Connected company

At 31 December 2024 the Company was owed £50,353(2023: £Nil) by AE Borehamwood Ltd.

Loan Newworth Holdings Ltd (incorporated in UK)

Connected company

At 31 December 2024 the Company owed £398,237 (2023: £Nil) to Newworth Holdings Ltd.