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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
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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
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PIERCEFIELD ASSET MANAGEMENT LIMITED Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
642,432 
653,945 
Current assets
Inventories
7,351 
- 
Debtors
24,391 
29,041 
Cash at bank and in hand
464,386 
400,204 
496,128 
429,245 
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 
Capital and reserves
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
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PIERCEFIELD ASSET MANAGEMENT LIMITED Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
Pension costs
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.
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PIERCEFIELD ASSET MANAGEMENT LIMITED Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2023
287,500 
At 30 September 2024
287,500 
Amortisation
At 1 October 2023
287,500 
At 30 September 2024
287,500 
Net book value
At 30 September 2024
- 
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 
Additions
- 
4,007 
4,007 
At 30 September 2024
705,267 
82,338 
787,605 
Depreciation
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 
Net book value
At 30 September 2024
622,647 
19,785 
642,432 
At 30 September 2023
631,272 
22,673 
653,945 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
64 
250 
Accrued income and prepayments
24,327 
28,791 
24,391 
29,041 
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 
Accruals
16,685 
1,590 
61,151 
41,139 
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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 
2024 
2023 
£ 
£ 
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 
10
Share capital
2024 
2023 
£ 
£ 
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 
20,304 
39,045 
12
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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