Company Registration No. 03608688 (England and Wales)
PIERCEFIELD ASSET MANAGEMENT LIMITED
Unaudited accounts
for the year ended 30 September 2024
PIERCEFIELD ASSET MANAGEMENT LIMITED
Unaudited accounts
Contents
PIERCEFIELD ASSET MANAGEMENT LIMITED
Company Information
for the year ended 30 September 2024
Directors
S J Willis
L Oliver
Company Number
03608688 (England and Wales)
Registered Office
105-107 BATH ROAD
CHELTENHAM
GLOUCESTERSHIRE
GL53 7LE
Accountants
FARQUHAR PARTNERSHIP LIMITED
151 WHITELADIES ROAD
CLIFTON
BRISTOL
BS8 2RA
PIERCEFIELD ASSET MANAGEMENT LIMITED
Statement of financial position
as at 30 September 2024
Tangible assets
642,432
653,945
Cash at bank and in hand
464,386
400,204
Creditors: amounts falling due within one year
(61,151)
(41,139)
Net current assets
434,977
388,106
Total assets less current liabilities
1,077,409
1,042,051
Creditors: amounts falling due after more than one year
(184,375)
(200,222)
Provisions for liabilities
Deferred tax
(4,865)
(4,566)
Net assets
888,169
837,263
Called up share capital
100
100
Profit and loss account
888,069
837,163
Shareholders' funds
888,169
837,263
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by
S J Willis
Director
Company Registration No. 03608688
PIERCEFIELD ASSET MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 30 September 2024
PIERCEFIELD ASSET MANAGEMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03608688. The registered office is 105-107 BATH ROAD, CHELTENHAM, GLOUCESTERSHIRE, GL53 7LE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line basis
Plant & machinery
20% & 25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PIERCEFIELD ASSET MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill
At 30 September 2024
287,500
At 30 September 2024
287,500
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2023
705,267
78,331
783,598
At 30 September 2024
705,267
82,338
787,605
At 1 October 2023
73,995
55,658
129,653
Charge for the year
8,625
6,895
15,520
At 30 September 2024
82,620
62,553
145,173
At 30 September 2024
622,647
19,785
642,432
At 30 September 2023
631,272
22,673
653,945
Amounts falling due within one year
Accrued income and prepayments
24,327
28,791
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,737
11,329
Trade creditors
4,324
1,877
Taxes and social security
28,405
26,343
PIERCEFIELD ASSET MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 30 September 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
184,375
200,222
Aggregate of amounts that fall due for payment after five years
126,513
144,259
Creditors include secured bank loans of £196,112 (2023 - £211,550). The loans are secured by way of a fixed and floating charge over all property and assets present and future.
9
Deferred taxation
2024
2023
Accelerated capital allowances
4,865
4,566
Provision at start of year
4,566
4,399
Charged to the profit and loss account
299
167
Provision at end of year
4,865
4,566
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Operating lease commitments
2024
2023
At 30 September 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
18,742
18,742
Later than one year and not later than five years
1,562
20,303
12
Average number of employees
During the year the average number of employees was 5 (2023: 5).