Silverfin false false 31/08/2025 01/09/2024 31/08/2025 A H Cohen 28/10/2019 N J Henry 07/02/2026 28/10/2019 G P Osen 01/07/2024 W P Rosenberg 28/10/2019 09 April 2026 The principal activity of the Company during the financial year was that of property investment. 12285190 2025-08-31 12285190 bus:Director1 2025-08-31 12285190 bus:Director2 2025-08-31 12285190 bus:Director3 2025-08-31 12285190 bus:Director4 2025-08-31 12285190 core:CurrentFinancialInstruments 2025-08-31 12285190 core:CurrentFinancialInstruments 2024-08-31 12285190 2024-08-31 12285190 core:ShareCapital 2025-08-31 12285190 core:ShareCapital 2024-08-31 12285190 core:RetainedEarningsAccumulatedLosses 2025-08-31 12285190 core:RetainedEarningsAccumulatedLosses 2024-08-31 12285190 bus:OrdinaryShareClass1 2025-08-31 12285190 2024-09-01 2025-08-31 12285190 bus:FilletedAccounts 2024-09-01 2025-08-31 12285190 bus:SmallEntities 2024-09-01 2025-08-31 12285190 bus:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 12285190 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 12285190 bus:Director1 2024-09-01 2025-08-31 12285190 bus:Director2 2024-09-01 2025-08-31 12285190 bus:Director3 2024-09-01 2025-08-31 12285190 bus:Director4 2024-09-01 2025-08-31 12285190 2023-09-01 2024-08-31 12285190 bus:OrdinaryShareClass1 2024-09-01 2025-08-31 12285190 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12285190 1 2024-09-01 2025-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12285190 (England and Wales)

# FUSION PORTSMOUTH PROPCO LIMITED

### Unaudited Financial Statements
For the financial year ended 31 August 2025
Pages for filing with the registrar

FUSION PORTSMOUTH PROPCO LIMITED

## Unaudited Financial Statements

For the financial year ended 31 August 2025

Contents

FUSION PORTSMOUTH PROPCO LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 August 2025
FUSION PORTSMOUTH PROPCO LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Debtors | 3 | 1,766,737 |  | 1,778,584
Cash at bank and in hand |  | 15,000 |  | 165
|  | 1,781,737 |  | 1,778,749
Creditors: amounts falling due within one year | 4 | ( 1,790,331) |  | ( 1,787,632)
Net current liabilities |  | (8,594) |  | (8,883)
Total assets less current liabilities |  | (8,594) |  | (8,883)
Net liabilities |  | ( 8,594) |  | ( 8,883)
Capital and reserves |  |  |  |
Called-up share capital | 5 | 10 |  | 10
Profit and loss account |  | ( 8,604 ) |  | ( 8,893 )
Total shareholder's deficit |  | ( 8,594) |  | ( 8,883)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge 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 Income and Retained Earnings has not been delivered.

The financial statements of Fusion Portsmouth Propco Limited (registered number: 12285190) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A H Cohen Director |

09 April 2026

FUSION PORTSMOUTH PROPCO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025
FUSION PORTSMOUTH PROPCO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Fusion Portsmouth Propco 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 principal activity of the Company during the financial year was that of property investment.
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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

##### 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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. During the construction of the property is is continued to be carried at cost. When the property is completed it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### 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 by group undertakings 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 Income and Retained Earnings.

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, and amounts due to group undertakings 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 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 4 |  | 3

#### 3. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by group undertakings | 1,766,737 |  | 1,764,183
Corporation tax | 0 |  | 14,401
| 1,766,737 |  | 1,778,584

Amounts owed by group undertakings consists of intracompany loans which are unsecured, interest free and repayable on demand.

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to group undertakings | 1,477,815 |  | 1,475,116
Other creditors | 312,516 |  | 312,516
| 1,790,331 |  | 1,787,632

Amounts owed to group undertakings consists of intracompany loans which are unsecured, interest free and repayable on demand.

#### 5. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
10 Ordinary shares of £ 1.00 each | 10 |  | 10

#### 6. Ultimate controlling party

Parent Company:

The parent undertaking is Fusion Global Investments Holdco Limited.
The registered office address is 35 Ballards Lane, London, N3 1XW.

The principal place of business is Fusion House, The Green, Letchmore Heath, Herts, WD25 8ER.