Company No: 10630076 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	2,219,173		2,150,370
		2,219,173		2,150,370
Current assets
Debtors	4	2,745		10,112
Cash at bank and in hand	5	25,355		27,207
		28,100		37,319
Creditors: amounts falling due within one year	6	( 1,566,398)		( 1,446,297)
Net current liabilities		(1,538,298)		(1,408,978)
Total assets less current liabilities		680,875		741,392
Net assets		680,875		741,392
Capital and reserves
Called-up share capital	7	30		30
Profit and loss account		680,845		741,362
Total shareholders' funds		680,875		741,392

For the financial year ending 28 February 2026 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 Drill Hall Portsmouth Limited (registered number: 10630076) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S L Cloran Director

30 July 2026

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

Drill Hall Portsmouth 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 Manor Farmhouse Ecclesden Lane, Angmering, Littlehampton, BN16 4DQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

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:

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently 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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 March 2025	2,150,370
Additions	68,803
As at 28 February 2026	2,219,173

4. Debtors

	2026		2025
	£		£
Other debtors	2,745		10,112

5. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	25,355		27,207

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Other creditors	1,566,398		1,446,297

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
30 Ordinary shares of £ 1.00 each	30		30

8. Related party transactions

Directors/shareholders have lent the company £1,564,722 (2024: £1,444,722) interest-free. The amount is unsecured and has no fixed repayment date.