Registered number
11256114
PiC Ventures Investments Limited
Filleted Accounts
31 March 2024
PiC Ventures Investments Limited
Registered number: 11256114
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 963,490 963,490
Current assets
Debtors 4 2,044,644 2,001,705
Cash at bank and in hand 1,675,392 1,602,889
3,720,036 3,604,594
Creditors: amounts falling due within one year 5 (596,982) (566,408)
Net current assets 3,123,054 3,038,186
Net assets 4,086,544 4,001,676
Capital and reserves
Called up share capital 3,333,333 3,333,333
Share premium 666,667 666,667
Profit and loss account 86,544 1,676
Shareholders' funds 4,086,544 4,001,676
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.
J T Marshall
Director
Approved by the board on 27 November 2024
PiC Ventures Investments Limited
Notes to the Accounts
for the year ended 31 March 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).
Investment property
Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment property
£
Cost and valuation
At 1 April 2023 963,490
At 31 March 2024 963,490
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 963,490
At 31 March 2023 963,490
The freehold property was acquired on 12 September 2022. In the opinion of the directors this valuation remains representative of current market conditions.
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,000,000 2,000,000
Other debtors 44,644 1,705
2,044,644 2,001,705
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 29,238 3,906
Other creditors 567,744 562,502
596,982 566,408
6 Controlling party
The company is a 60% subsidiary of PIC Ventures Limited which is jointly owned by the directors J T and G A Marshall. The companies have the same registered office address.
7 Other information
PiC Ventures Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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