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PORTASA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Portasa Limited is a private company, limited by shares, incorporated and registered in England and Wales within the United Kingdom. The registered office address is 2 Bolton Road, Luton, Bedfordshire, LU1 3HR. The principal activity is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 have been prepared in £ sterling, the functional currency, rounded to the nearest £1.
The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present the information about the company as an individual undertaking and not about its group.
The directors have prepared the financial statements on a going concern basis as the shareholders have committed to providing financial support as required. The going concern basis is considered by the directors to be appropriate due to the willingness and ability of the Company's investors to continue to support the Company for at least 12 months from the date of approval of the financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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