Silverfin false false 31/08/2025 01/09/2024 31/08/2025 M S Bevan 28/10/2019 A H Cohen 01/12/2021 N J Henry 07/02/2026 01/12/2021 P Miles 28/10/2019 G P Osen 28/10/2019 W P Rosenberg 01/12/2021 09 April 2026 The principal activity of the Company during the financial year was the development of building projects. 12285223 2025-08-31 12285223 bus:Director1 2025-08-31 12285223 bus:Director2 2025-08-31 12285223 bus:Director3 2025-08-31 12285223 bus:Director4 2025-08-31 12285223 bus:Director5 2025-08-31 12285223 bus:Director6 2025-08-31 12285223 2024-08-31 12285223 core:CurrentFinancialInstruments 2025-08-31 12285223 core:CurrentFinancialInstruments 2024-08-31 12285223 core:ShareCapital 2025-08-31 12285223 core:ShareCapital 2024-08-31 12285223 core:RetainedEarningsAccumulatedLosses 2025-08-31 12285223 core:RetainedEarningsAccumulatedLosses 2024-08-31 12285223 bus:OrdinaryShareClass1 2025-08-31 12285223 2024-09-01 2025-08-31 12285223 bus:FilletedAccounts 2024-09-01 2025-08-31 12285223 bus:SmallEntities 2024-09-01 2025-08-31 12285223 bus:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 12285223 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 12285223 bus:Director1 2024-09-01 2025-08-31 12285223 bus:Director2 2024-09-01 2025-08-31 12285223 bus:Director3 2024-09-01 2025-08-31 12285223 bus:Director4 2024-09-01 2025-08-31 12285223 bus:Director5 2024-09-01 2025-08-31 12285223 bus:Director6 2024-09-01 2025-08-31 12285223 2023-09-01 2024-08-31 12285223 bus:OrdinaryShareClass1 2024-09-01 2025-08-31 12285223 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12285223 (England and Wales)

# FUSION PORTSMOUTH DEVCO LIMITED

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

FUSION PORTSMOUTH DEVCO LIMITED

## Unaudited Financial Statements

For the financial year ended 31 August 2025

Contents

FUSION PORTSMOUTH DEVCO LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 August 2025
FUSION PORTSMOUTH DEVCO LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Stocks | 3 | 0 |  | 290
Debtors | 4 | 131 |  | 109
Cash at bank and in hand |  | 21,060 |  | 7,049
|  | 21,191 |  | 7,448
Creditors: amounts falling due within one year | 5 | ( 31,969) |  | ( 18,072)
Net current liabilities |  | (10,778) |  | (10,624)
Total assets less current liabilities |  | (10,778) |  | (10,624)
Net liabilities |  | ( 10,778) |  | ( 10,624)
Capital and reserves |  |  |  |
Called-up share capital | 6 | 10 |  | 10
Profit and loss account |  | ( 10,788 ) |  | ( 10,634 )
Total shareholders' deficit |  | ( 10,778) |  | ( 10,624)

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 members have 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 Devco Limited (registered number: 12285223) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

G P Osen Director |

09 April 2026

FUSION PORTSMOUTH DEVCO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025
FUSION PORTSMOUTH DEVCO 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 Devco 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 Ln, London N3 1XW, United Kingdom.
The principal activity of the Company during the financial year was the development of building projects.
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 financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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.

##### Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

##### 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 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, 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 | 6 |  | 6

#### 3. Stocks

| 2025 |  | 2024
| £ |  | £
Work in progress | 0 |  | 290

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 131 |  | 109

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

| 2025 |  | 2024
| £ |  | £
Trade creditors | 1,341 |  | 593
Other creditors | 30,628 |  | 17,479
| 31,969 |  | 18,072

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000,000 Ordinary shares of £ 0.00001 each | 10 |  | 10