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SIMON PICKERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIMON PICKERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr SAW Pickering
Mrs S E Pickering





REGISTERED OFFICE: Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 07380135 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

BALANCE SHEET
31 MARCH 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,638 141,375
Investment property 5 1,318,229 695,000
1,413,867 836,375

CURRENT ASSETS
Debtors 6 24,897 26,367
Cash at bank and in hand 27,170 56,631
52,067 82,998
CREDITORS
Amounts falling due within one year 7 107,825 24,602
NET CURRENT (LIABILITIES)/ASSETS (55,758 ) 58,396
TOTAL ASSETS LESS CURRENT LIABILITIES 1,358,109 894,771

CREDITORS
Amounts falling due after more than one year 8 (537,772 ) (105,047 )

PROVISIONS FOR LIABILITIES 11 (59,300 ) (70,700 )
NET ASSETS 761,037 719,024

CAPITAL AND RESERVES
Called up share capital 12 1 1
Fair value reserve 13 140,994 140,994
Retained earnings 620,042 578,029
SHAREHOLDERS' FUNDS 761,037 719,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

BALANCE SHEET - continued
31 MARCH 2024


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 17 September 2024 and were signed on its behalf by:




Dr SAW Pickering - Director



Mrs S E Pickering - Director


SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Simon Pickering 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on reducing balance

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.

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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 27,598 138,580 166,178
DEPRECIATION
At 1 April 2023 16,142 8,661 24,803
Charge for year 5,137 40,600 45,737
At 31 March 2024 21,279 49,261 70,540
NET BOOK VALUE
At 31 March 2024 6,319 89,319 95,638
At 31 March 2023 11,456 129,919 141,375

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 695,000
Additions 623,229
At 31 March 2024 1,318,229
NET BOOK VALUE
At 31 March 2024 1,318,229
At 31 March 2023 695,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 81,394
Valuation in 2022 95,000
Cost 1,141,835
1,318,229

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 21,752 20,993
Other debtors 3,145 5,374
24,897 26,367

SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 10,387 -
Hire purchase contracts (see note 9) 19,002 17,200
Taxation and social security 19,925 4,668
Other creditors 58,511 2,734
107,825 24,602

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans 451,726 -
Hire purchase contracts (see note 9) 86,046 105,047
537,772 105,047

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 19,002 17,200
Between one and five years 86,046 105,047
105,048 122,247

Non-cancellable operating leases
2024 2023
as restated
£    £   
Within one year 11,971 14,366
Between one and five years - 11,971
11,971 26,337

SIMON PICKERING LIMITED (REGISTERED NUMBER: 07380135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 462,113 -
Hire purchase contracts 105,048 122,247
567,161 122,247

Hire purchase liabilities are secured on the individual assets.
Bank loans are secured on the company's investment properties.

11. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 59,300 70,700

Deferred
tax
£   
Balance at 1 April 2023 70,700
Provided during year (11,400 )
Balance at 31 March 2024 59,300

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
1 ordinary £1 1 1

13. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 140,994