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REGISTERED NUMBER: 01654358 (England and Wales)















PICKWICK MOTOR CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025






PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PICKWICK MOTOR CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTOR: Mr M D Adley





REGISTERED OFFICE: Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX





BUSINESS ADDRESS: The Old Forge
Forge Lane
Bredhurst
GILLINGHAM
ME7 3JW





REGISTERED NUMBER: 01654358 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
SITTINGBOURNE
Kent
ME9 8PX

PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,563 14,965

CURRENT ASSETS
Stocks 4,647 4,768
Debtors 6 11,012 17,257
Cash at bank and in hand 79,191 69,436
94,850 91,461
CREDITORS
Amounts falling due within one year 7 45,633 36,984
NET CURRENT ASSETS 49,217 54,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,780

69,442

PROVISIONS FOR LIABILITIES 2,239 2,495
NET ASSETS 60,541 66,947

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 60,441 66,847
SHAREHOLDERS' FUNDS 60,541 66,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2025


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 director and authorised for issue on 28 August 2025 and were signed by:





Mr M D Adley - Director


PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Pickwick Motor Co. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover
Turnover represents invoiced work done, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to lease - 33.33% on cost
Garage equipment - 15% on reducing balance
Computer equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Fittings & office equipment - 10% on reducing balance

Government grants
During the year the company received the following revenue based grants.

Employment allowance to contribute towards the Employers National Insurance costs of employing staff.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

3. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

5. TANGIBLE FIXED ASSETS
Improvements Garage Computer
to lease equipment equipment
£    £    £   
COST
At 1 February 2024 6,673 77,412 3,748
Additions - 461 1,206
Disposals - (3,796 ) -
At 31 January 2025 6,673 74,077 4,954
DEPRECIATION
At 1 February 2024 6,673 67,427 2,282
Charge for year - 1,429 436
Eliminated on disposal - (3,220 ) -
At 31 January 2025 6,673 65,636 2,718
NET BOOK VALUE
At 31 January 2025 - 8,441 2,236
At 31 January 2024 - 9,985 1,466

Fittings
Motor & office
vehicles equipment Totals
£    £    £   
COST
At 1 February 2024 10,613 12,819 111,265
Additions - 290 1,957
Disposals (2,262 ) - (6,058 )
At 31 January 2025 8,351 13,109 107,164
DEPRECIATION
At 1 February 2024 8,533 11,385 96,300
Charge for year 444 172 2,481
Eliminated on disposal (1,960 ) - (5,180 )
At 31 January 2025 7,017 11,557 93,601
NET BOOK VALUE
At 31 January 2025 1,334 1,552 13,563
At 31 January 2024 2,080 1,434 14,965

PICKWICK MOTOR CO. LIMITED (REGISTERED NUMBER: 01654358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 2,537 13,996
Other debtors 7,014 3,261
Corporation tax refund 917 -
Prepayments and accrued income 544 -
11,012 17,257

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts 16,055 1,727
Trade creditors 17,587 13,199
VAT 3,948 6,906
Other creditors 259 1,674
Other taxes and PAYE 2,932 8,823
Directors' Current Accounts 779 661
Accruals and deferred income 4,073 3,994
45,633 36,984

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M D Adley.