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 30th December 2019 to 3rd January 2021





Porthmeor Holdings Limited (Registered number: 08821894)






Contents of the Financial Statements
for the Period 30th December 2019 to 3rd January 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Porthmeor Holdings Limited

Company Information
for the Period 30th December 2019 to 3rd January 2021







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
3rd January 2021

2021 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 119,121 208,346

CURRENT ASSETS
Debtors 5 34,780 86,357
Cash at bank 21,744 60,530
56,524 146,887
CREDITORS
Amounts falling due within one year 6 35,044 35,356
NET CURRENT ASSETS 21,480 111,531
TOTAL ASSETS LESS CURRENT
LIABILITIES
140,601
319,877

CREDITORS
Amounts falling due after more than one
year
7
(48,993
)
(228,293
)

PROVISIONS FOR LIABILITIES (1,080 ) (2,673 )
NET ASSETS 90,528 88,911

CAPITAL AND RESERVES
Called up share capital 100,001 100,001
Retained earnings (9,473 ) (11,090 )
SHAREHOLDERS' FUNDS 90,528 88,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 3rd January 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 3rd January 2021 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 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 24th August 2021 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 30th December 2019 to 3rd January 2021

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.

Government grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

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 (2019 - 2 ) .

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

Notes to the Financial Statements - continued
for the Period 30th December 2019 to 3rd January 2021

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 30th December 2019 100,001 108,345 208,346
Additions - 155 155
Disposals - (95,710 ) (95,710 )
Revaluations - 6,330 6,330
At 3rd January 2021 100,001 19,120 119,121
NET BOOK VALUE
At 3rd January 2021 100,001 19,120 119,121
At 29th December 2019 100,001 108,345 208,346

Cost or valuation at 3rd January 2021 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2019 - (643 ) (643 )
Valuation in 2021 - 6,330 6,330
Cost 100,001 13,433 113,434
100,001 19,120 119,121

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

2021 2019
£    £   
Cost 13,433 94,160

Listed investments were valued on an open market basis on 3rd January 2021 by Hargreaves Lansdown .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2019
£    £   
Amounts owed by group undertakings 24,526 22,220
Other debtors 10,254 64,137
34,780 86,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2019
£    £   
Trade creditors 2,000 3,150
Amounts owed to group undertakings 2,218 3,334
Taxation and social security 4,452 2,528
Other creditors 26,374 26,344
35,044 35,356

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

Notes to the Financial Statements - continued
for the Period 30th December 2019 to 3rd January 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2019
£    £   
Other creditors 48,993 228,293

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 £34,526 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 £2,218. No interest is being charged on this balance.

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