REGISTERED NUMBER: 05726794 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SECOND AVENUE PORTFOLIO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N W Hudders

Mrs S E Hudders

Mrs N L Chequer

Ms S K Cremer

Mrs A E N Harley

SECRETARY:

Gibson Whitter Secretaries Limited

REGISTERED OFFICE:

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

REGISTERED NUMBER:

05726794 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

13,000

13,000

Investment property

6

1,233,375

1,233,375

1,246,375

1,246,375

CURRENT ASSETS

Debtors

7

12,123

21,743

Cash at bank

190,888

86,667

203,011

108,410

CREDITORS

Amounts falling due within one year

8

124,620

53,888

NET CURRENT ASSETS

78,391

54,522

TOTAL ASSETS LESS CURRENT LIABILITIES

1,324,766

1,300,897

PROVISIONS FOR LIABILITIES

9

139,844

139,844

NET ASSETS

1,184,922

1,161,053

CAPITAL AND RESERVES

Called up share capital

1

1

Non distributable funds

10

643,576

643,576

Retained earnings

10

541,345

517,476

SHAREHOLDERS' FUNDS

1,184,922

1,161,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 and authorised for issue by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

Mr N W Hudders - Director

1.	STATUTORY INFORMATION

Second Avenue Portfolio Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income in respect of properties owned or managed by the company. Rental income is recognised when the company obtains the right to consideration under the contractual agreement with the tenant.

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 and 25% on cost

Investment property

Investment property is carried at fair value determined annually by the directors using information available to them unless an external valuation has been provided during the financial period. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Investments

Investments in unlisted companies are carried at cost less any provision for impairment.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

573

DEPRECIATION

At 1 April 2024

and 31 March 2025

573

NET BOOK VALUE

At 31 March 2025

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

13,000

NET BOOK VALUE

At 31 March 2025

13,000

At 31 March 2024

13,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,233,375

NET BOOK VALUE

At 31 March 2025

1,233,375

At 31 March 2024

1,233,375

Fair value at 31 March 2025 is represented by:

£

Valuation in 2014

12,094

Valuation in 2015

18,433

Valuation in 2016

19,100

Valuation in 2017

7,400

Valuation in 2020

379,000

Valuation in 2023

44,000

Valuation in 2024

309,375

Cost

443,973

1,233,375

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

443,973

443,973

Investment properties were valued on an open market basis basis on 31 March 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

10,249

21,408

Other debtors

1,874

335

12,123

21,743

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

239

222

Taxation and social security

16,179

14,289

Other creditors

108,202

39,377

124,620

53,888

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

139,844

139,844

Deferred

tax

£

Balance at 1 April 2024

139,844

Balance at 31 March 2025

139,844

10.

RESERVES

Non

Retained

distributable

earnings

funds

Totals

£

£

£

At 1 April 2024

517,476

643,576

1,161,052

Profit for the year

23,869

-

23,869

At 31 March 2025

541,345

643,576

1,184,921

11.	RELATED PARTY DISCLOSURES

The aggregate amount owed to the directors at the balance sheet date is £1,128 (31.3.24:£816).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the trustees of Second Avenue Portfolio FURBS Trust.