Registration number: 09794491

That Portsmouth Company Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

That Portsmouth Company Limited

Company Information

Directors

Steven Andrew Brown Peter Stephen Tisdale Raymond Stuart Kelvin CBE

Registered office

18 Albert Road Bournemouth Dorset England BH1 1BZ

Accountants

Prescient Accounting Ltd Chartered AccountantsBasepoint Abbey Park Industrial Estate Romsey Hampshire SO51 9AQ

That Portsmouth Company Limited

(Registration number: 09794491)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,793,039	4,759,564
Current assets
Debtors	5	112,240	74,072
Cash at bank and in hand		12,776	13,100
		125,016	87,172
Creditors: Amounts falling due within one year	6	(949,296)	(918,680)
Net current liabilities		(824,280)	(831,508)
Total assets less current liabilities		3,968,759	3,928,056
Creditors: Amounts falling due after more than one year	6	(3,840,951)	(3,885,501)
Net assets		127,808	42,555
Capital and reserves
Called up share capital	7	100	100
Retained earnings		127,708	42,455
Shareholders' funds		127,808	42,555

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.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2026 and signed on its behalf by:
 

......................................... Steven Andrew Brown Director

That Portsmouth Company Limited

Notes to the Unaudited 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:
18 Albert Road
Bournemouth
Dorset
BH1 1BZ
England

These financial statements were authorised for issue by the Board on 17 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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.

Basis of preparation

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

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

That Portsmouth Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Going concern

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are 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 accountingestimates are recognised
in the period in which the estimate is revised where the revision affects only thatperiod, or in the period of the
revision and future periods where the revision affects both current and future periods.

Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on
amounts recognised in the financial statements.

Management Recharges
Management recharges are levied from That Topco Limited, a company connected by way of common
directorships. The recharge which includes salary and overhead costs is based on managements assessment
and apportionment of time spend on the affairs of That Portsmouth Company Limited.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying
amount of assets and liabilities are as follows.

Depreciation and amortisation
The director considers the depreciation and amortisation policy to be a crucial accounting estimate. The
expected useful life of all fixed asset categories are reviewed annually by management based on industry
experience and are considered reasonable.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.Assets under construction represents the current project under
development which is included at cost. There has been no depreciation charged or impairment as the project
is in progress.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price including transaction costs. Financial assets classified as receivable within one year are not amortised.
 

That Portsmouth Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Basic financial liabilities
Basic financial liabilities, including creditors and loans from connected companies, are initially recognised at
transaction price. Financial liabilities classified as payable within one year are not amortised.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are never taxable or deductible. The company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the
reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand,
deposits held at call with banks.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Tax

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

That Portsmouth Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Properties under construction  £	Total £
Cost or valuation
At 1 January 2025	4,759,564	4,759,564
Additions	33,475	33,475
At 31 December 2025	4,793,039	4,793,039
Depreciation
Carrying amount
At 31 December 2025	4,793,039	4,793,039
At 31 December 2024	4,759,564	4,759,564

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		37,540	25,672
Amounts owed by group undertakings	8	74,600	48,300
Other debtors		100	100
		112,240	74,072

That Portsmouth Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		41,670	28,577
Amounts owed to group undertakings	8	12,000	12,000
Taxation and social security		686	2,116
Accruals and deferred income		3,000	-
Other creditors		891,940	875,987
		949,296	918,680

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other creditors	3,840,951	3,885,501

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

8	Related party disclosures

The company has taken advantage of the exemption available in FRS 102 from the requirement to disclose
transactions with group companies.

Included in creditors, amounts due after more than one year, is an amount of £3,840,951 (2024 - £3,885,501)
owed to a director.

That Portsmouth Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

9	Parent company

The company's immediate parent is That Holdco Limited, incorporated in England and Wales.