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REGISTERED NUMBER: 03528662 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PIKESTONE LIMITED

PIKESTONE LIMITED (REGISTERED NUMBER: 03528662)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PIKESTONE LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTOR: Mr J J Ainscough



SECRETARY: Mr S P Smith



REGISTERED OFFICE: Ainscough Business Park
Mossy Lea Road
Wrightington
Wigan
Lancashire
WN6 9RS



REGISTERED NUMBER: 03528662 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: The Royal Bank of Scotland plc
38 Market Place
Wigan
WN1 1PJ

PIKESTONE LIMITED (REGISTERED NUMBER: 03528662)

STATEMENT OF FINANCIAL POSITION
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,652 17,702
Investment property 5 878,896 858,620
895,548 876,322

CURRENT ASSETS
Debtors 6 718 6,028
Cash at bank and in hand 9,807 15,658
10,525 21,686
CREDITORS
Amounts falling due within one year 7 476,369 478,334
NET CURRENT LIABILITIES (465,844 ) (456,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,704

419,674

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 8 17,469 17,469
Retained earnings 8 412,233 402,203
SHAREHOLDERS' FUNDS 429,704 419,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 18 January 2024 and were signed by:




Mr J J Ainscough - Director


PIKESTONE LIMITED (REGISTERED NUMBER: 03528662)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Pikestone 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net rents, service charges and management fees receivable and invoiced vehicle sales.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property-2% on cost
Plant and machinery-25% on reducing balance
Fixtures and fittings-25% on reducing balance

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Amounts due to and from related undertakings are repayable on demand and are measured at the undiscounted amount due.


PIKESTONE LIMITED (REGISTERED NUMBER: 03528662)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 18,080 30,846 48,926
DEPRECIATION
At 1 May 2022 3,386 27,838 31,224
Charge for year 295 755 1,050
At 30 April 2023 3,681 28,593 32,274
NET BOOK VALUE
At 30 April 2023 14,399 2,253 16,652
At 30 April 2022 14,694 3,008 17,702

PIKESTONE LIMITED (REGISTERED NUMBER: 03528662)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 858,620
Additions 173,325
Disposals (153,049 )
At 30 April 2023 878,896
NET BOOK VALUE
At 30 April 2023 878,896
At 30 April 2022 858,620

Investment properties were revalued on 22 October 2014 by Sanderson Weatherall LLP, the director considers that there has been no change in this valuation as at 30 April 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 303 5,680
Other debtors 415 348
718 6,028

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 528 963
Taxation and social security 4,417 5,483
Other creditors 471,424 471,888
476,369 478,334

8. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2022 402,203 17,469 419,672
Profit for the year 10,030 10,030
At 30 April 2023 412,233 17,469 429,702

Other reserves relate to non distributable profit and loss reserves following the revaluation of investment properties.

9. RELATED PARTY DISCLOSURES

Included in Other creditors is £470,021 (2022: £470,228) due to the director.