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Registration number: 02438698

Portsmere Limited Unaudited Financial Statements for the Year Ended 31 December 2025
Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Portsmere Limited

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Financial Statements | 4 to 7

Portsmere Limited

Company Information

Director | KG Holmes

Company secretary | PA Holmes

Registered office | 130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants | Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Portsmere Limited

Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,092 | 1,456
Investment property | 5 | 695,761 | 695,761
|  | 696,853 | 697,217
Current assets |  |  |
Debtors | 6 | 2,465 | 2,465
Cash at bank and in hand |  | 229 | 160
|  | 2,694 | 2,625
Creditors: Amounts falling due within one year | 7 | (136,647) | (145,124)
Net current liabilities |  | (133,953) | (142,499)
Net assets |  | 562,900 | 554,718
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 562,800 | 554,618
Shareholders' funds |  | 562,900 | 554,718

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The director of Portsmere Limited has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Portsmere Limited

Statement of Financial Position as at 31 December 2025

Approved and authorised by the director on 13 August 2026

.........................................

KG Holmes

Director

Company registration number: 02438698

Portsmere Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of an investment property holding company.

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

At 31 December 2025 the statement of financial position showed net assets of £562,900.
The company continued to let out an investment property in the year and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director believes that due to the company's minimal overheads, this will enable the company to retain sufficient working capital. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Portsmere Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures & Fittings | 25% reducing balance

No depreciation is charged on freehold property or short leasehold investment property as the fair value is not significantly lower than the cost of these properties.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

Portsmere Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2025 | 4,832 | 4,832
At 31 December 2025 | 4,832 | 4,832
Depreciation
At 1 January 2025 | 3,376 | 3,376
Charge for the year | 364 | 364
At 31 December 2025 | 3,740 | 3,740
Carrying amount
At 31 December 2025 | 1,092 | 1,092
At 31 December 2024 | 1,456 | 1,456

5 | Investment properties

| 2025 £
At 1 January 2025 | 695,761
At 31 December 2025 | 695,761

The director has assessed the fair value of the investment property against similar properties in the same location and decided that there is no significant change in its fair value at the end of the year. Thus, it is included in the financial statements at its original cost.

6 | Debtors

| 2025 £ | 2024 £
Other debtors | 2,465 | 2,465
| 2,465 | 2,465

Portsmere Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 13,329 | 13,329
Taxation and social security | 2,006 | 277
Accruals and deferred income | 4,000 | 12,291
Other creditors | 117,312 | 119,227
| 136,647 | 145,124