REGISTERED NUMBER: 06320382 (England and Wales)

PORTSMOUTH STUDENTS' UNION TRADING

COMPANY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Okafor

F Guillen

A A Clark

T Fergani

C Stone

SECRETARY:

F Guillen

REGISTERED OFFICE:

The Student Centre

Cambridge Road

Portsmouth

Hampshire

PO1 2EF

REGISTERED NUMBER:

06320382 (England and Wales)

AUDITORS:

MC Audit Limited

Statutory Auditors

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

CURRENT ASSETS

Stocks

31,306

46,971

Debtors

4

28,321

26,850

Cash at bank

24,851

33,676

84,478

107,497

CREDITORS

Amounts falling due within one year

5

84,477

107,496

NET CURRENT ASSETS

1

1

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

1

1

1

1

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 22 October 2025 and were signed on its behalf by:

F Guillen - Director

1.	STATUTORY INFORMATION

Portsmouth Students' Union Trading Company 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.

Critical accounting judgements and key sources of estimation uncertainty

The directors consider that there are no judgements or key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Creditors and Provisions

Creditors and provisions are recognised when the company has a present obligation arising from a past event, where it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be reliably estimated. Creditors and provisions are generally measured at their settlement amount, net of any trade discounts due.

Debtors

Trade and other debtors are recognised at the amount expected to be received, net of any trade discounts and allowances. Prepayments are valued at the amount prepaid, net of any trade discounts due.

Taxation

The company is a wholly owned subsidiary of a UK registered charity. It has entered into a deed of covenant to donate all of its distributable profits to the parent charity.

Corporation tax is provided on taxable profits at the applicable UK tax rates. However, due to the deed of covenant, the company donates all of its profits to the parent charity, thereby reducing its current tax liability to nil.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Where the company has no expectation of retaining profits and has no taxable temporary differences, no deferred tax is recognised.

Gift Aid and covenant donations are accounted for as distributions when the obligation to make the payment is established and the amount can be measured reliably. These are not treated as expenses in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

28,321

26,850

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,451

-

Amounts owed to group undertakings

57,730

89,762

Taxation and social security

2,578

6,858

Other creditors

22,718

10,876

84,477

107,496

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Underwood (Senior Statutory Auditor)

for and on behalf of MC Audit Limited

7.	RELATED PARTY DISCLOSURES

During the year, the entity engaged in the following transactions with its ultimate parent company, The University of Portsmouth Students Union:

Donation:

The entity made a donation of £22,915 (2024: £79,429) to The University of Portsmouth Students Union. This donation has been recognized as an expense in the financial statements.

Creditors Balance:

As at the end of the reporting period, the entity had a creditors balance of £57,730 (2024: 89,762) with The University of Portsmouth Students Union. This amount is included in the current liabilities of the financial statements.

Management charge

During the year the company paid a management charge to £118,615 (2024: £112,189) to The University of Portsmouth Students Union.

Nature of the Related Party Relationship:

The University of Portsmouth Students Union is the ultimate parent company of the entity. Transactions with this related party are conducted under normal commercial terms unless otherwise stated.

8.	ULTIMATE CONTROLLING PARTY

The University of Portsmouth Students' Union

Registered Company Number: 03934555 (England and Wales)

Charity Registration Number: 1136115

Registered Office:

Student Union Building

Cambridge Road

Portsmouth

Hampshire

PO1 2EF