Portsmouth Business Systems Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04204581

Portsmouth Business Systems Limited

Filleted Unaudited Financial Statements

30 September 2025

Portsmouth Business Systems Limited

Statement of Financial Position

30 September 2025

	2025		2024
Note	£	£	£

Current assets

Stocks		2,500	2,000
Debtors	6	549,954	519,488
Cash at bank and in hand		9,012	12,868
		---------	---------
		561,466	534,356

Creditors: amounts falling due within one year	7	497,989		452,449
		---------		---------
Net current assets			63,477	81,907
			--------	--------
Total assets less current liabilities			63,477	81,907
			--------	--------
Net assets			63,477	81,907
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	63,377	81,807
	--------	--------
Shareholders funds	63,477	81,907
	--------	--------

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 income and retained earnings has not been delivered.

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 1 August 2026 , and are signed on behalf of the board by:

H D Smith Esq
Director

Company registration number: 04204581

Portsmouth Business Systems 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 England and Wales. The address of the registered office is Drywater, Dellcrest Path, Portsmouth, Hampshire, PO6 3LR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 October 2024 and 30 September 2025	205	1,000	1,205
	----	-------	-------
Depreciation
At 1 October 2024 and 30 September 2025	205	1,000	1,205
	----	-------	-------
Carrying amount
At 30 September 2025	–	–	–
	----	-------	-------
At 30 September 2024	–	–	–
	----	-------	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	67,695	58,420
Other debtors	482,259	461,068
	---------	---------
	549,954	519,488
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	44,292	46,230
Corporation tax	10,972	13,475
Social security and other taxes	8,637	12,252
Other creditors	434,088	380,492
	---------	---------
	497,989	452,449
	---------	---------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
H D Smith Esq	( 346,637)	( 41,356)	( 387,993)
	---------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
H D Smith Esq	( 332,605)	( 14,032)	( 346,637)
	---------	--------	---------

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Drywater Developments Limited	19,618	14,375	480,683	461,067
	--------	--------	---------	---------

Drywater Developments Limited is a company under the control of H Smith Esq