Porthmeor Holdings Limited - Accounts to registrar (filleted) - small 18.2

Porthmeor Holdings Limited - Accounts to registrar (filleted) - small 18.2

PORTHMEOR HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 08821894 (England and Wales)












Porthmeor Holdings Limited

Unaudited Financial Statements

for the Period 1st January 2018 to 30th December 2018





Porthmeor Holdings Limited (Registered number: 08821894)






Contents of the Financial Statements
for the Period 1st January 2018 to 30th December 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Porthmeor Holdings Limited

Company Information
for the Period 1st January 2018 to 30th December 2018







DIRECTORS: R J Clark
Mrs E Davies
P Hodgson
P J D Hodgson FCA





REGISTERED OFFICE: 7 Sail Lofts
Porthmeor Road
St Ives
Cornwall
TR26 1GB





REGISTERED NUMBER: 08821894 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH
Page 1
Porthmeor Holdings Limited (Registered number: 08821894)

Statement of Financial Position
30th December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investments 4 177,649 134,541

CURRENT ASSETS
Debtors 5 28,392 36,401
Cash at bank 134,926 112,377
163,318 148,778
CREDITORS
Amounts falling due within one year 6 162,640 96,704
NET CURRENT ASSETS 678 52,074
TOTAL ASSETS LESS CURRENT
LIABILITIES
178,327
186,615

CAPITAL AND RESERVES
Called up share capital 100,001 100,001
Retained earnings 78,326 86,614
SHAREHOLDERS' FUNDS 178,327 186,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 29th March 2019 and were signed on its behalf by:





R J Clark - Director


The notes form part of these financial statements

Page 2
Porthmeor Holdings Limited (Registered number: 08821894)

Notes to the Financial Statements
for the Period 1st January 2018 to 30th December 2018

1. STATUTORY INFORMATION

Porthmeor Holdings Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Porthmeor Holdings Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company is exempt under Section
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and
rebates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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 period 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.

Listed investments
Listed investments are valued at fair value on an open market basis

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

Page 3 continued...
Porthmeor Holdings Limited (Registered number: 08821894)

Notes to the Financial Statements - continued
for the Period 1st January 2018 to 30th December 2018

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1st January 2018 100,001 34,540 134,541
Additions - 44,159 44,159
Revaluations - (1,051 ) (1,051 )
At 30th December 2018 100,001 77,648 177,649
NET BOOK VALUE
At 30th December 2018 100,001 77,648 177,649
At 31st December 2017 100,001 34,540 134,541

Cost or valuation at 30th December 2018 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2017 - 134 134
Valuation in 2018 - (1,051 ) (1,051 )
Cost 100,001 78,565 178,566
100,001 77,648 177,649

If listed investments had not been revalued they would have been included at the following historical cost:

2018 2017
£    £   
Cost 78,565 34,406

Listed investments were valued on an open market basis on 31st July 2018 by Hargreaves Lansdown .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Amounts owed by group undertakings 20,010 20,010
Other debtors 8,382 16,391
28,392 36,401

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Amounts owed to group undertakings 1,758 3,334
Taxation and social security 2,536 2,612
Other creditors 158,346 90,758
162,640 96,704

Page 4 continued...
Porthmeor Holdings Limited (Registered number: 08821894)

Notes to the Financial Statements - continued
for the Period 1st January 2018 to 30th December 2018

7. RELATED PARTY DISCLOSURES

During the year Porthmeor Holdings Limited received management charges of £12,000 from Suffolk Country
Inns Limited, a company in which R J Clark is the ultimate controlling party. At the year end Porthmeor Holdings
Limited is owed £20,010 from Suffolk Country Inns Limited. No interest is being charged on this balance.

During the year Porthmeor Holdings Limited received management charges of £48,000 from Sail Lofts - St Ives
Limited, a company in which R J Clark is the ultimate controlling party. At the year end Porthmeor Holdings
Limited owes Sail Lofts - St Ives Limited £1,771. No interest is being charged on this balance.

Page 5