REGISTERED NUMBER: 11856259 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

PORTISHEAD PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr W Neales

REGISTERED OFFICE:

The Byre

Cross Farm

East Allington

Totnes

TQ9 7RW

REGISTERED NUMBER:

11856259 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

3,958

1,970

Investment property

5

111,041

111,041

114,999

113,011

CURRENT ASSETS

Debtors

6

134

1,513

Cash at bank

44,322

32,138

44,456

33,651

CREDITORS

Amounts falling due within one year

7

162,677

137,886

NET CURRENT LIABILITIES

(118,221

)

(104,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,222

)

8,776

PROVISIONS FOR LIABILITIES

8

-

374

NET (LIABILITIES)/ASSETS

(3,222

)

8,402

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(3,224

)

8,400

SHAREHOLDERS' FUNDS

(3,222

)

8,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2026 and were signed by:

Mr W Neales - Director

1.	STATUTORY INFORMATION

Portishead Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and equipment

-

20% on cost

Investment property

Investment property is carried at cost less any accumulated impairment losses. Fair value cannot be measured reliably without undue cost or effort, so the property is accounted for in accordance with Section 17 of FRS 102. No depreciation is provided because the director considers the residual value of the property to be at least equal to its carrying amount, so any depreciation charge would be immaterial. The director reviews the carrying amount annually for indications of impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The director and Mrs Neales have confirmed that they will continue to support the company and will not require repayment of their loans until the company is able to repay them without affecting its ability to meet its other liabilities as they fall due, for at least twelve months from the date of approval of these financial statements. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 April 2025

3,284

Additions

3,305

At 31 March 2026

6,589

DEPRECIATION

At 1 April 2025

1,314

Charge for year

1,317

At 31 March 2026

2,631

NET BOOK VALUE

At 31 March 2026

3,958

At 31 March 2025

1,970

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2025

and 31 March 2026

111,041

NET BOOK VALUE

At 31 March 2026

111,041

At 31 March 2025

111,041

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Called up share capital not paid

-

2

Prepayments and accrued income

134

1,511

134

1,513

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Tax

-

1,596

Other creditors

20,000

20,000

Directors' loan accounts

141,354

115,090

Accruals and deferred income

1,323

1,200

162,677

137,886

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

-

374

Deferred

tax

£

Balance at 1 April 2025

374

Credit to Income Statement during year

(374

)

Balance at 31 March 2026

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

2

Ordinary

£1

2

2

10.	RELATED PARTY DISCLOSURES

The amounts owed to the director (£141,354; 2025: £115,090) and the loan from Mrs A C Newels, a shareholder (£20,000; 2025: £20,000), included in creditors due within one year (note 8), are unsecured, interest-free and have no fixed repayment date. They are repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by Mr W J Neales and Mrs A C Neales. Mr Neales holds more than 25% but not more than 50% of the shares and voting rights and Mrs Neales holds more than 25% but not more than 50% of the shares. There is no single ultimate controlling party.