PORTOBELLO DEVELOPMENTS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +10.7%

  £35,457 → £39,262

• Cash

  -66.2%

  £664,765 → £224,873

  lowest in 3 filed years

• Net assets

  -3.3%

  £1,033,584 → £999,540

• Employees

  0%

  3 → 3

• Operating profit

  -31.7%

  -£46,276 → -£60,932

• Profit before tax

  +40.4%

  -£26,715 → -£15,933

• Wages

  0%

  £18,000 → £18,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. PORTOBELLO DEVELOPMENTS LIMITED 2021-11-29 → present
2. PORTOBELLO DEVELOPMENTS PLC. LIMITED 2021-11-19 → 2021-11-29
3. PORTOBELLO DEVELOPMENTS PLC. 1999-04-01 → 2021-11-19
4. 251 PORTOBELLO PLC 1989-08-23 → 1999-04-01
5. MARKETMERGE PUBLIC LIMITED COMPANY 1989-06-20 → 1989-08-23

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Hillier Hopkins LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have decided not to actively pursue new investment opportunities, focusing instead on managing and realising value from existing assets. This shift is expected to lead to a gradual reduction in activities and potential liquidation over an extended period. Therefore, the directors consider it appropriate for the financial statements to continue to be prepared on a going concern basis.”

Significant events

• “The company has two legacy investments. The first is the retail properties in Plymouth, known as the Vision. The company has been engaged in legal discussions with the contractor responsible for constructing the Vision regarding water ingress due to faulty workmanship. Progress has been slow, but recent communication from the contractor's solicitor expressed confidence in finding a constructive solution to the claim without further litigation and suggested a meeting. Until this matter is resolved, the site cannot be sold and will continue to be held. The units are now fully let, providing a reasonable income, although this is diminished by legal fees associated with the claim. Despite these costs, the rental income contributes to the basic running costs of the company.”
• “The second legacy investment is related to Referent Limited, a company that develops sites for energy storage. The initial investment was successful and yielded a satisfactory return. However, Referent decided to cease trading due to congestion in the energy grid, making it difficult to find suitable sites and connect them to the grid. Referent has one remaining investment in a site near Hull, which is currently being sold. Referent is entitled to a percentage of the profits, which should deliver a modest dividend to the company.”
• “The company is pleased to report the acquisition of the Old Malthouse, a 6,000 sq ft property located in a quiet residential street near the cathedral. The property was purchased for £325,000 from a seller who had previously attempted to sell it at auction with a guide price of £650,000. The property has been cleared, and various planning issues are being addressed. The property is being marketed by local agents with a guide price of £425,000, and negotiations are ongoing with interested parties at a price below this figure, which should yield a modest profit if successful.”
• “The directors have decided not to actively pursue new investment opportunities in the current environment. Instead, their strategic focus will be on managing and realising value from the company's existing assets over time. This shift in strategy is expected to lead to a gradual reduction in the scale of activities with the possibility of the company eventually being liquidated.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.