Company registration number 13006759 (England and Wales)
Portnall & London Limited
Financial Statements
For the period ended
30 June 2025
Pages for filing with registrar
Portnall & London Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Portnall & London Limited
Statement Of Financial Position
As at 30 June 2025
- 1 -
30 June 2025
30 November 2024
Notes
£
£
£
£
Fixed assets
Investment property
5
4,933,904
4,052,434
Investments
6
1,000
-
0
4,934,904
4,052,434
Current assets
Stocks
603,021
593,499
Debtors
7
108,662
241,005
Cash at bank and in hand
41,342
34,270
753,025
868,774
Creditors: amounts falling due within one year
8
(6,838,029)
(5,307,849)
Net current liabilities
(6,085,004)
(4,439,075)
Total assets less current liabilities
(1,150,100)
(386,641)
Creditors: amounts falling due after more than one year
9
(328,338)
(21,600)
Net liabilities
(1,478,438)
(408,241)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,478,538)
(408,341)
Total equity
(1,478,438)
(408,241)

The notes on pages 3 to 7 form part of these financial statements.

Portnall & London Limited
Statement Of Financial Position (Continued)
As at 30 June 2025
- 2 -

For the financial period ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 30 June 2026
S.S.H. Rizvi
Director
Company registration number 13006759 (England and Wales)
Portnall & London Limited
Notes To The Financial Statements
For the period ended 30 June 2025
- 3 -
1
General information

Portnall & London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 21 Gloucester Place, London, W1U 8HR.

2
Accounting policies
2.1
Reporting period

The financial statements present information for the 7 month period ended 30 June 2025. The comparatives present information for the 12 month period prior to 30 November 20 24

2.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

2.3
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

As of January 2025 the company has begun generating rental income from its investment properties and is also actively marketing the property it holds as stock for sale. The shareholders have also confirmed that t he y will support the company for all third party liabilities arising for a period of at least twelve months from the date of signing of the financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.4
Revenue

Turnover comprises the sale of properties and rental income in the ordinary course of business. Turnover is recognised when the significant risks and rewards of ownership of the properties have passed to the buyer (usually on the completion date stipulated in the contract), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Portnall & London Limited
Notes To The Financial Statements (Continued)
For the period ended 30 June 2025
2
Accounting policies
(Continued)
- 4 -
2.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

2.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and those overheads that have been incurred in bringing the stocks to their present location and condition.

2.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

2.9
Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its 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 evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from related parties are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

Portnall & London Limited
Notes To The Financial Statements (Continued)
For the period ended 30 June 2025
- 5 -
3
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4
Employees

The company employed no persons during the period.

5
Investment property
2025
£
Fair value
At 1 December 2024
4,052,433
Additions
1,965,206
Revaluations
(1,083,735)
At 30 June 2025
4,933,904

Investment property comprises properties under construction which on completion will be held to earn rental income and for capital appreciation. Some properties are completed and are rented. From a combination of external and internal valuations, the director considers the fair value of the investment properties on an open market basis to be £4,933,904 (2024: £4,052,433)

6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1,000
-
0
Portnall & London Limited
Notes To The Financial Statements (Continued)
For the period ended 30 June 2025
6
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 December 2024
-
Additions
1,000
At 30 June 2025
1,000
Carrying amount
At 30 June 2025
1,000
At 30 November 2024
-
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
42,266
-
0
Other debtors
66,396
241,005
108,662
241,005
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
12,145
39,144
Other creditors
6,825,884
5,268,705
6,838,029
5,307,849
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
306,738
-
0
Other creditors
21,600
21,600
328,338
21,600
10
Financial commitments, guarantees and contingent liabilities

At the balance sheet date the company had commitments totalling £32,81 7 in respect of the construction of an investment property (2024 - £186,860 in respect of a property held as stock).

Portnall & London Limited
Notes To The Financial Statements (Continued)
For the period ended 30 June 2025
- 7 -
11
Related party transactions

Included in other creditors are amounts owed to shareholders of £3,928,690 (2024 - £2,378,690), and an amount of £2,877,340 (2024: £2,886,340) owed to a related company.

12
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
38,340
10,211
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