Phantom Property Portfolio Ltd

(Registration number: 11805531)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	10,751,129	10,554,192
Current assets
Debtors		456,200	-
Cash at bank and in hand		70,369	100,564
		526,569	100,564
Creditors: Amounts falling due within one year		(4,084,878)	(4,010,670)
Net current liabilities		(3,558,309)	(3,910,106)
Total assets less current liabilities		7,192,820	6,644,086
Creditors: Amounts falling due after more than one year		(1,667)	(11,667)
Provisions for liabilities		(1,460,343)	(1,418,058)
Accruals and deferred income		(4,320)	(3,480)
Net assets		5,726,490	5,210,881
Capital and reserves
Called up share capital		10	10
Non-distributable reserves		4,411,143	4,303,830
Retained earnings		1,315,337	907,041
Shareholders' funds		5,726,490	5,210,881

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025, and confirmed on the Board's behalf by:
 

C D Mills Director

Phantom Property Portfolio Ltd

Notes to the Unaudited Abridged Financial Accounts for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Unit 2, Coupland Road, Hindley Green, Wigan, Lancashire, WN2 4GS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial accounts are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial accounts have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and, as applicable, deferred tax. Deferred tax is recognised, if appropriate, in the profit and loss account in respect of all timing differences between taxable profits and profits reported in the financial accounts.

Deferred tax arising in respect of property revaluation adjustments is adjusted for via the revaluation reserve directly, and not via the profit and loss account.

Tangible assets

Investment property is carried at fair value, as determined from time to time by the directors, and based on current market prices for comparable real estate.

Changes in fair value are also reflected in the revaluation reserve.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Phantom Property Portfolio Ltd

Notes to the Unaudited Abridged Financial Accounts for the Year Ended 31 March 2025

4	Tangible assets

	Total £
Cost or valuation
At 1 April 2024	10,554,192
Revaluations	388,839
Additions	237,814
Disposals	(396,000)
At 31 March 2025	10,784,845
Depreciation
Charge for the year	33,716
At 31 March 2025	33,716
Carrying amount
At 31 March 2025	10,751,129
At 31 March 2024	10,554,192

Revaluation

The company directors have valued the investment properties held at the year end and consider the portfolio value at 31 March 2025 to be £10,649,983. There was a property addition and disposal in the year and an uplift of £388,839 on the remaining properties held. This uplift in value is included via the revaluation reserve. The deferred tax adjustments in respect of the property valuation uplifts are reflected directly in the revaluation reserve, rather than via the tax charge in the profit and loss account.

5	Related party transactions

The company shares a director and shareholder with Phantom Motor Company Limited and at the year end owed that company £3,205,000 (2024 - £2,695,000). Phantom Motor Company Limited holds a debenture dated 24 May 2024 with a charge over the properties owned by Phantom Property Portfolio Ltd as security against this loan.

The company also shares its directors and shareholders with Warranties UK Ltd and at the year end Warranties UK Ltd owed the company £350,000.

No interest is charged on either loan and both are repayable on demand.