Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302023-10-01falseNo description of principal activity88falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02236996 2023-10-01 2024-09-30 02236996 2022-10-01 2023-09-30 02236996 2024-09-30 02236996 2023-09-30 02236996 c:CompanySecretary1 2023-10-01 2024-09-30 02236996 c:Director1 2023-10-01 2024-09-30 02236996 c:Director2 2023-10-01 2024-09-30 02236996 c:RegisteredOffice 2023-10-01 2024-09-30 02236996 d:Buildings 2023-10-01 2024-09-30 02236996 d:Buildings 2024-09-30 02236996 d:Buildings 2023-09-30 02236996 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02236996 d:PlantMachinery 2023-10-01 2024-09-30 02236996 d:PlantMachinery 2024-09-30 02236996 d:PlantMachinery 2023-09-30 02236996 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02236996 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02236996 d:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 02236996 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 02236996 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-09-30 02236996 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-09-30 02236996 d:CurrentFinancialInstruments 2024-09-30 02236996 d:CurrentFinancialInstruments 2023-09-30 02236996 d:Non-currentFinancialInstruments 2024-09-30 02236996 d:Non-currentFinancialInstruments 2023-09-30 02236996 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02236996 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02236996 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 02236996 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 02236996 d:ShareCapital 2024-09-30 02236996 d:ShareCapital 2023-09-30 02236996 d:RetainedEarningsAccumulatedLosses 2024-09-30 02236996 d:RetainedEarningsAccumulatedLosses 2023-09-30 02236996 c:FRS102 2023-10-01 2024-09-30 02236996 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02236996 c:FullAccounts 2023-10-01 2024-09-30 02236996 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02236996 6 2023-10-01 2024-09-30 02236996 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-10-01 2024-09-30 02236996 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-10-01 2024-09-30 02236996 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 02236996










PICKETT LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




















 
PICKETT LIMITED
 
 
Company Information


Directors
A A Duma (Chairman) 
T R Pickett (Managing Director) 




Company secretary
A A Duma



Registered number
02236996



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW




Accountants
Sayers Butterworth LLP
Chartered Accountants

3rd Floor

12 Gough Square

London

EC4A 3DW





 
PICKETT LIMITED
Registered number: 02236996

Balance sheet
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,182
9,767

Tangible assets
 5 
63,080
75,226

Investments
 6 
1
1

  
70,263
84,994

Current assets
  

Stocks
  
412,178
338,323

Debtors: amounts falling due within one year
 7 
116,139
107,550

  
528,317
445,873

Creditors: amounts falling due within one year
 8 
(752,195)
(741,209)

Net current liabilities
  
 
 
(223,878)
 
 
(295,336)

Total assets less current liabilities
  
(153,615)
(210,342)

Creditors: amounts falling due after more than one year
 9 
(347,912)
(337,289)

  

Net liabilities
  
(501,527)
(547,631)


Capital and reserves
  

Called up share capital 
  
797,400
797,400

Profit and loss account
  
(1,298,927)
(1,345,031)

  
(501,527)
(547,631)


Page 1

 
PICKETT LIMITED
Registered number: 02236996
    
Balance sheet (continued)
As at 30 September 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2025.




A A Duma (Chairman)
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

1.


General information

Pickett Limited is a private limited company, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis despite liabilities being in excess of assets.
The directors and shareholders consider the going concern basis to be appropriate as they have agreed to continue to provide whatever financial support the company requires to continue in business for at least the next twelve months from the date of approval of these financial statements.

 
2.3

Turnover

The turnover shown in the profit and loss account represents sales made during the year exclusive of Value Added Tax.

 
2.4

Intangible assets

Website costs are capitalised to the extent that they lead to the creation of an enduring asset delivering benefits to the company and are stated at cost less amortisation. Amortisation is provided at 10% straight line which is the estimated life of the website.
Trademarks are capitalised by the company and amortised at 20% straight line.

Page 3

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Leasehold Property
-
over unexpired period of lease
Plant & Machinery etc.
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 5

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

4.


Intangible assets




Website
Trademarks
Total

£
£
£



Cost


At 1 October 2023
31,948
300
32,248



At 30 September 2024

31,948
300
32,248



Amortisation


At 1 October 2023
22,181
300
22,481


Charge for the year on owned assets
2,585
-
2,585



At 30 September 2024

24,766
300
25,066



Net book value



At 30 September 2024
7,182
-
7,182



At 30 September 2023
9,767
-
9,767



Page 6

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

5.


Tangible fixed assets





Land & buildings
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 October 2023
277,701
297,544
575,245


Additions
-
2,309
2,309



At 30 September 2024

277,701
299,853
577,554



Depreciation


At 1 October 2023
240,435
259,584
500,019


Charge for the year on owned assets
5,668
8,787
14,455



At 30 September 2024

246,103
268,371
514,474



Net book value



At 30 September 2024
31,598
31,482
63,080



At 30 September 2023
37,266
37,960
75,226


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 October 2023
1



At 30 September 2024
1




Page 7

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

7.


Debtors

2024
2023
£
£


Trade debtors
6,882
10,940

Other debtors
23,820
5,855

Prepayments and accrued income
85,437
90,755

116,139
107,550


Included in other debtors is an amount of £20,964 owed (2023: £10,000 owed by) to the company by a director.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
173,227
138,826

Bank loans
10,000
10,000

Other loans
107,362
95,670

Trade creditors
174,390
167,614

Other taxation and social security
130,502
84,675

Other creditors
130,714
217,174

Accruals and deferred income
26,000
27,250

752,195
741,209


The bank loans and overdraft are secured by way of guarantee and debenture and fixed and floating charges over all property and assets of the company, and with personal guarantees from the directors of the company.

Page 8

 
PICKETT LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,667
16,667

Other loans
12,500
-

Other creditors
328,745
320,622

347,912
337,289


The bank loans are secured by way of guarantee and debenture and fixed and floating charges over all property and assets of the company, and with personal guarantees from the directors of the company.


10.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments under non-cancellable operating leases amounting to £812,767 (2023: £1,079,064).

 
Page 9