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Company registration number: 04547662
Portman London Limited
Unaudited filleted financial statements
30 September 2025
Portman London Limited
Contents
Statement of financial position
Notes to the financial statements
Portman London Limited
Statement of financial position
30 September 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 5 | 2,885,000 |  |  |  | 2,708,487 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 2,885,000 |  |  |  | 2,708,487
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 1 |  |  |  | 1 |  |
Debtors |  | 6 | 57,513 |  |  |  | 425,419 |  |
Cash at bank and in hand |  |  | 74,845 |  |  |  | 14,656 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 132,359 |  |  |  | 440,076 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 7 | ( 81,088) |  |  |  | ( 74,293) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 51,271 |  |  |  | 365,783
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 2,936,271 |  |  |  | 3,074,270
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 8 |  |  | ( 1,351,500) |  |  |  | ( 1,351,500)
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 1,584,771 |  |  |  | 1,722,770
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 100 |  |  |  | 100
Fair value reserve |  |  |  |  | 604,188 |  |  |  | 681,675
Profit and loss account |  |  |  |  | 980,483 |  |  |  | 1,040,995
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 1,584,771 |  |  |  | 1,722,770
|  |  |  |  | _______ |  |  |  | _______

For the year ending 30 September 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 year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 June 2026 , and are signed on behalf of the board by:
Mukesh Shah
Director
Company registration number: 04547662
Portman London Limited
Notes to the financial statements
Year ended 30 September 2025
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is Scottish Provident House, 3rd Floor, 76-80 College Road, Harrow, Middlesex, HA1 1BQ. The principal activity of the company is that of property investments and property developments.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with continuing financial support from the shareholders. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.In reaching this conclusion the directors have considered the financial position of the company with a particular focus on:- Cash and overall liquidity - The expiry of the existing bank loan and the refinancing of this bank loan with another lender bank during the year.
Turnover
Turnover represents the amounts derived from the lettings of investment properties, recognised on a straight-line basis over the term of the rental period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Development properties are stated at the lower of cost and net realisable value. Cost comprises of property price, acquisition and development costs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments,. An equity instrument is any contract that evidenced a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets

|  | Investment Property | Total |  |  |  |  |
|  | £ | £ |  |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 October 2024 | 2,708,487 | 2,708,487 |  |  |  |  |
| Additions | 254,000 | 254,000 |  |  |  |  |
| Transfers | ( 77,487) | ( 77,487) |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 30 September 2025 | 2,885,000 | 2,885,000 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 October 2024 and 30 September 2025 | - | - |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 30 September 2025 | 2,885,000 | 2,885,000 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 30 September 2024 | 2,708,487 | 2,708,487 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |

Investment property
The fair valuation has been arrived at the balance sheet date by a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the state of the rental market in the area where the property is situated.The historical cost of the property is £2,280,813 ( 2024 - £2,026,813)
6. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Amounts owed by group undertakings and undertakings |  | 10,476 | 333,154
| Other debtors |  | 47,037 | 92,265
|  |  | _______ | _______
|  |  | 57,513 | 425,419
|  |  | _______ | _______

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
7. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Trade creditors |  | 17,500 | 18,219
| Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 600 | 1,800
| Social security and other taxes |  | 8,389 | 4,329
| Other creditors |  | 54,599 | 49,945
|  |  | _______ | _______
|  |  | 81,088 | 74,293
|  |  | _______ | _______

8. Creditors: amounts falling due after more than one year

|  |  | 2025 | 2024
|  |  | £ | £
| Other creditors |  | 1,351,500 | 1,351,500
|  |  | _______ | _______

The bank loan is secured by a first legal charge on the investment property. Additionally, the two directors and the Company Secretary have provided a guarantee limited to £1,325,000 to the bank. The loan is repayable by 15 February 2029 and is interest bearing at 8% per annum.
9. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2025 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Pulin Shah | 33,000 | - | ( 33,000) | - |  |
|  | _______ | _______ | _______ | _______ |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing |  |
|  | £ | £ | £ | £ |  |
| Pulin Shah | - | 33,000 | - | 33,000 |  |
|  | _______ | _______ | _______ | _______ |  |

10. Related party transactions
At the balance sheet date, one of the director's owed £ Nil ( 2024 £33,000 ) to the company.This loan was interest bearing @ 2.25 % on daily basis and was repaid in full during the year.
11. Controlling party
In the opinion of the director, the company is controlled by its ultimate parent company, MVP Investment Holdings Limited incorporated in England & Wales.