Registered number
03751552
Pickwick Estates Limited
Unaudited Filleted Accounts
30 April 2024
Pickwick Estates Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Pickwick Estates Limited
Company Information
Directors
G L Randall
D J Randall
A A Captain (resigned 16 February 2024)
M D Wilkinson
Secretary
M D Wilkinson
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Bankers
Handelsbanken
3 Carlton Crescent
Southampton
SO15 2EY
Registered office
Liberty House
Brook Avenue
Warsash
Southampton
SO31 9HP
Registered number
03751552
Pickwick Estates Limited
Registered number: 03751552
Directors' Report
The directors present their report and accounts for the year ended 30 April 2024.
Principal activities
The company's principal activity during the year continued to be that of the provision of letting, operating of owned or leased real estate, letting commercial properties and property development.
Directors
The following persons served as directors during the year:
G L Randall
D J Randall
A A Captain (resigned 16 February 2024)
M D Wilkinson
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 6 August 2024 and signed on its behalf.
D J Randall
Director
Pickwick Estates Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Pickwick Estates Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pickwick Estates Limited for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
19 August 2024
Pickwick Estates Limited
Registered number: 03751552
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,386,764 7,223,720
Investments 4 2,654 2,655
6,389,418 7,226,375
Current assets
Debtors 5 322,415 1,312,055
Investments held as current assets 7 3,342 102,637
Cash at bank and in hand 306,956 177,656
632,713 1,592,348
Creditors: amounts falling due within one year 7 (981,578) (2,054,200)
Net current liabilities (348,865) (461,852)
Total assets less current liabilities 6,040,553 6,764,523
Creditors: amounts falling due after more than one year 8 (2,000,000) (2,000,000)
Provisions for liabilities (71,232) -
Net assets 3,969,321 4,764,523
Capital and reserves
Called up share capital 2,500 5,000
Capital redemption reserve 2,500 -
Revaluation reserve 10 400,064 400,064
Profit and loss account 3,564,257 4,359,459
Shareholders' funds 3,969,321 4,764,523
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D J Randall
Director
Approved by the board on 6 August 2024
Pickwick Estates Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Group accounts
The financial statements represent the results of Pickwick Estates Limited. The company and it's subsidiary undertaking comprise a small sized group and have taken advantage of the exemptions under the Companies Act 2006, not to prepare group accounts.
Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of properties. Rental income and service charges represent rental, insurance and service charge income receivable, net of value added tax and service charges and insurance paid.

Interest income is recognised using an effective interest method and dividend income is recognised as the company's right to receive payment is established.
Intangible fixed assets - goodwill
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. The appropriate period chosen for writing off goodwill, by the directors, was 10 years at the point of acquistion.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Fixtures, fittings, tools and equipment 25% reducing balance
Computers 3 years straight line
Investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss.

The methods and significant assumptions used to ascertain the fair value of £6,325,000 and fair value movement of -£30,000 included in the profit and loss for the year are as follows;

The properties were professionally valued by the directors at 30 April 2024. The properties are valued every 3 years by Handlesbanken.

.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit and loss if the shares are publically traded or their fair value can be measured reliably. Other investments, which are investments in subsidiaries and joint ventures and art work, are measured at cost less impairment.

The methods and significant assumptions used to ascertain the fair value of £3,342 and fair value movement of - £1,586 included in the profit and loss for the year are as follows;

Market value as provided by the broker.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 7,220,000 39,259 - 7,259,259
Additions - - 64,495 64,495
Revaluation (30,000) - - (30,000)
Disposals (865,000) - - (865,000)
At 30 April 2024 6,325,000 39,259 64,495 6,428,754
Depreciation
At 1 May 2023 - 35,539 - 35,539
Charge for the year - 1,514 4,937 6,451
At 30 April 2024 - 37,053 4,937 41,990
Net book value
At 30 April 2024 6,325,000 2,206 59,558 6,386,764
At 30 April 2023 7,220,000 3,720 - 7,223,720
Freehold land and buildings: 2024 2023
£ £
Historical cost 5,364,993 6,362,251
Cumulative depreciation based on historical cost - -
5,364,993 6,362,251
Investment properties are revalued annually by the directors. The basis of valuation is outlined in the accounting policies.
4 Investments
Investments in
subsidiary Other
undertakings investments Total
and joint
ventures
£ £ £
Cost
At 1 May 2023 4 2,651 2,655
Disposals (1) (1)
At 30 April 2024 3 2,651 2,654
5 Debtors 2024 2023
£ £
Other debtors 322,415 1,312,055
6 Investments held as current assets
2024 2023
£ £
Fair value
Listed investments 3,342 102,637
Unlisted investments - -
3,342 102,637
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments (1,586) (16,898)
Unlisted investments - -
(1,586) (16,898)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 159,750
Trade creditors 4,614 8,133
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4,073 4,450
Other taxes and social security costs 13,012 19,612
Other creditors 959,879 1,862,255
981,578 2,054,200
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,000,000 2,000,000
9 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 2,000,000 2,159,750
The bank holds security over the company's properties.
10 Revaluation reserve 2024 2023
£ £
At 1 May 2023 400,064 400,064
Transfer of realised gains
At 30 April 2024 400,064 400,064
11 Purchase of own shares
During the year the company purchased the shares of the A A Captain and N A Captain trusts for £1,500,000. There was stamp duty on the transaction of £7,500.
12 Related party transactions
Amounts due to directors and their associates at the year end 30.4.24 were £724,500 (2023 £1,611,946). Interest was paid of £55,123 (2023 £106,387).

The company was also due amounts from companies and partnerships in which the directors have an interest £156,743 (2023 £80,338). Interest was received of £15,962 (2023 £55,652).
13 Controlling party
The company is controlled by the Gregory Randall discretionary trust and Joy Randall discretionary trust, in equal proportions by virtue of the shareholdings.
14 Other information
Pickwick Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Liberty House
Brook Avenue
Warsash
Southampton
SO31 9HP
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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