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Registration number: 10154242

Portobello White Limited
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2025

Portobello White Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

Portobello White Limited

Company Information

Director | NP Findlay

Registered office | Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

Accountants | Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

Portobello White Limited

(Registration number: 10154242)
Balance Sheet as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 952 | 1,120
Investment property | 5 | 675,000 | 635,000
|  | 675,952 | 636,120
Current assets |  |  |
Cash at bank and in hand |  | 2,349 | 13,305
Creditors: Amounts falling due within one year | 6 | (456,578) | (464,211)
Net current liabilities |  | (454,229) | (450,906)
Total assets less current liabilities |  | 221,723 | 185,214
Provisions for liabilities |  | (38,987) | (31,387)
Net assets |  | 182,736 | 153,827
Capital and reserves |  |  |
Called up share capital | 7 | 1 | 1
Retained earnings |  | 182,735 | 153,826
Shareholders' funds |  | 182,736 | 153,827

Portobello White Limited

(Registration number: 10154242)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 November 2025

......................................... NP Findlay Director

Portobello White Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the director on 12 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Portobello White Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fittings depreciaton | 15% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Portobello White Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 March 2024 | 3,382 | 3,382
At 28 February 2025 | 3,382 | 3,382
Depreciation
At 1 March 2024 | 2,262 | 2,262
Charge for the year | 168 | 168
At 28 February 2025 | 2,430 | 2,430
Carrying amount
At 28 February 2025 | 952 | 952
At 29 February 2024 | 1,120 | 1,120

5 | Investment properties

| 2025 £
At 1 March | 635,000
Fair value adjustments | 40,000
At 28 February | 675,000

Portobello White Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 120 | 2,779
Accruals and deferred income | 13,322 | 23,323
Other creditors | 443,136 | 438,109
| 456,578 | 464,211

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £0.01 each | 100 | 1 | 100 | 1

Portobello White Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

8 | Related party transactions

Transactions with the director

2025 | At 1 March 2024 £ | Advances to director £ | Repayments by director £ | At 28 February 2025 £
NP Findlay
Transactions with director | (415,109) | 16,062 | (21,088) | (420,135)

2024 | At 1 March 2023 £ | Advances to director £ | Repayments by director £ | At 29 February 2024 £
NP Findlay
Transactions with director | (448,538) | 46,894 | (13,464) | (415,109)

Director's remuneration

The director's remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 12,570 | 12,523