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Company No: 16076073 (England and Wales)

# PORTOBELLO LAUNCH LIMITED

### Unaudited Financial Statements
For the 14 month period from 12 November 2024 to 31 December 2025
Pages for filing with the registrar

PORTOBELLO LAUNCH LIMITED

## Unaudited Financial Statements

For the 14 month period from 12 November 2024 to 31 December 2025

Contents

PORTOBELLO LAUNCH LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2025
PORTOBELLO LAUNCH LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2025

| Note | 31.12.2025
|  | £
Fixed assets |  |
Tangible assets | 3 | 256,024
|  | 256,024
Current assets |  |
Debtors | 4 | 49,681
Cash at bank and in hand |  | 30,956
|  | 80,637
Creditors: amounts falling due within one year | 5 | ( 66,560)
Net current assets |  | 14,077
Total assets less current liabilities |  | 270,101
Net assets |  | 270,101
Capital and reserves |  |
Called-up share capital | 6 | 310,100
Profit and loss account |  | ( 39,999 )
Total shareholder's funds |  | 270,101

For the financial period ending 31 December 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 member has not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Portobello Launch Limited (registered number: 16076073) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Piwnica Director |

07 April 2026

PORTOBELLO LAUNCH LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 12 November 2024 to 31 December 2025
PORTOBELLO LAUNCH LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 12 November 2024 to 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

Portobello Launch Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

The financial statements are presented for a period of 13 months and 20 days, being the first period since incorporation.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 3 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

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

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

##### Ordinary share capital

The ordinary share capital of the company is presented as equity.

#### 2. Employees

| 14 month period to 31.12.2025
| Number
Monthly average number of persons employed by the company during the period, including the director | 1

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 12 November 2024 | 0 |  | 0
Additions | 258,468 |  | 258,468
At 31 December 2025 | 258,468 |  | 258,468
Accumulated depreciation |  |  |
At 12 November 2024 | 0 |  | 0
Charge for the financial period | 2,444 |  | 2,444
At 31 December 2025 | 2,444 |  | 2,444
Net book value |  |  |
At 31 December 2025 | 256,024 |  | 256,024

#### 4. Debtors

| 31.12.2025
| £
Prepayments | 3,194
VAT recoverable | 46,487
| 49,681

#### 5. Creditors: amounts falling due within one year

| 31.12.2025
| £
Amounts owed to group undertakings | 51,560
Amounts owed to related parties | 11,050
Other creditors | 3,950
| 66,560

#### 6. Called-up share capital

| 31.12.2025
| £
Allotted, called-up and fully-paid |
310,100 Ordinary shares of £ 1.00 each | 310,100

310,100 Ordinary shares with a nominal value of £1 were issued to Portobello Dock S.A.R.L. during the period.