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Registered number: 06149550
Porthmeor Investments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
PKW Accountancy Limited
Second Floor
1 Church Square
Leighton Buzzard
Bedfordshire
LU7 1AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06149550
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,560 4,570
Investment Properties 5 1,354,039 1,354,039
Investments 6 13,999 13,999
1,370,598 1,372,608
CURRENT ASSETS
Stocks - 5,527
Debtors 7 18,815 39,110
Cash at bank and in hand 355,032 401,196
373,847 445,833
Creditors: Amounts Falling Due Within One Year 8 (79,489 ) (79,425 )
NET CURRENT ASSETS (LIABILITIES) 294,358 366,408
TOTAL ASSETS LESS CURRENT LIABILITIES 1,664,956 1,739,016
Creditors: Amounts Falling Due After More Than One Year 9 - (142,793 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (486 ) (1,143 )
NET ASSETS 1,664,470 1,595,080
CAPITAL AND RESERVES
Called up share capital 11 1 1
Capital redemption reserve 1 1
Profit and Loss Account 1,664,468 1,595,078
SHAREHOLDERS' FUNDS 1,664,470 1,595,080
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 16 December 2025 and were signed on its behalf by:
A R Beveridge
Director
16th December 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Porthmeor Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06149550 . The registered office is Second Floor, 1 Church Square, Leighton Buzzard, Bedfordshire, LU7 1AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% straight line
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.7. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 4)
2 4
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2024 37,083
Disposals (27,742 )
As at 31 March 2025 9,341
Depreciation
As at 1 April 2024 32,513
Provided during the period 1,265
Disposals (26,997 )
As at 31 March 2025 6,781
Net Book Value
As at 31 March 2025 2,560
As at 1 April 2024 4,570
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 and 31 March 2025 1,354,039
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2025 2024
£ £
Cost 1,354,039 1,354,039
Page 4
Page 5
6. Investments
Unlisted
£
Cost or Valuation
As at 1 April 2024 13,999
As at 31 March 2025 13,999
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 13,999
As at 1 April 2024 13,999
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 33,726
Other debtors 18,815 5,384
18,815 39,110
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 2,031
Bank loans and overdrafts - 19,818
Other creditors 57,055 5,321
Taxation and social security 22,434 52,255
79,489 79,425
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 142,793
10. Secured Creditors
Of the creditors the following amounts are secured, the bank loans are secured over the investment properties they relate to.
2025 2024
£ £
Bank loans and overdrafts - 140,192
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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Page 6
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year - 934
- 934
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Ann Beveridge - 15,967 - - 15,967
The above loan is unsecured, repayable on demand and interest is charged at the official rate.
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