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 31st December 2018 to 29th December 2019





Porthmeor Holdings Limited (Registered number: 08821894)






Contents of the Financial Statements
for the Period 31st December 2018 to 29th December 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Porthmeor Holdings Limited

Company Information
for the Period 31st December 2018 to 29th December 2019







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





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
29th December 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investments 4 208,346 177,649

CURRENT ASSETS
Debtors 5 86,357 28,392
Cash at bank 60,530 134,926
146,887 163,318
CREDITORS
Amounts falling due within one year 6 35,356 162,640
NET CURRENT ASSETS 111,531 678
TOTAL ASSETS LESS CURRENT
LIABILITIES
319,877
178,327

CREDITORS
Amounts falling due after more than one year 7 (228,293 ) -

PROVISIONS FOR LIABILITIES (2,673 ) -
NET ASSETS 88,911 178,327

CAPITAL AND RESERVES
Called up share capital 100,001 100,001
Retained earnings (11,090 ) 78,326
SHAREHOLDERS' FUNDS 88,911 178,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29th December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 29th December 2019 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 notes form part of these financial statements

Page 2 continued...
Porthmeor Holdings Limited (Registered number: 08821894)

Statement of Financial Position - continued
29th December 2019


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 Board of Directors and authorised for issue on 21st September 2020 and
were signed on its behalf by:





R J Clark - Director


The notes form part of these financial statements

Page 3
Porthmeor Holdings Limited (Registered number: 08821894)

Notes to the Financial Statements
for the Period 31st December 2018 to 29th December 2019

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.

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


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 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 (2018 - 2 ) .

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

Notes to the Financial Statements - continued
for the Period 31st December 2018 to 29th December 2019

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 31st December 2018 100,001 77,648 177,649
Additions - 98,573 98,573
Disposals - (82,664 ) (82,664 )
Revaluations - 14,788 14,788
At 29th December 2019 100,001 108,345 208,346
NET BOOK VALUE
At 29th December 2019 100,001 108,345 208,346
At 30th December 2018 100,001 77,648 177,649

Cost or valuation at 29th December 2019 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2017 - (82 ) (82 )
Valuation in 2018 - (521 ) (521 )
Valuation in 2019 - 14,788 14,788
Cost 100,001 94,160 194,161
100,001 108,345 208,346

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

2019 2018
£    £   
Cost 94,160 78,565

Listed investments were valued on an open market basis on 31st December 2019 by Hargreaves Lansdown .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 22,220 20,010
Other debtors 64,137 8,382
86,357 28,392

Page 5 continued...
Porthmeor Holdings Limited (Registered number: 08821894)

Notes to the Financial Statements - continued
for the Period 31st December 2018 to 29th December 2019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 3,150 -
Amounts owed to group undertakings 3,334 1,758
Taxation and social security 2,528 2,536
Other creditors 26,344 158,346
35,356 162,640

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2019 2018
£    £   
Other creditors 228,293 -

8. 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 £22,220 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 £3,334. No interest is being charged on this balance.

Page 6