ACCOUNTS - Final Accounts preparation

Registered number: 13629087

PICKHURST PARTNERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

PICKHURST PARTNERS LIMITED

REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PICKHURST PARTNERS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pickhurst Partners Limited for the year ended 31 December 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of Directors of Pickhurst Partners Limited, as a body, in accordance with the terms of our engagement letter dated 18 September 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Pickhurst Partners Limited Pickhurst Partners Limited and state those matters that we have agreed to state to the Board of Directors of Pickhurst Partners Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pickhurst Partners LimitedPickhurst Partners Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Directors Pickhurst Partners Limited have kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pickhurst Partners LimitedPickhurst Partners Limited. You consider that Pickhurst Partners LimitedPickhurst Partners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Pickhurst Partners Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wellers

1 Vincent Square

London

SW1P 2PN

25 September 2025

Page 1

PICKHURST PARTNERS LIMITED

REGISTERED NUMBER: 13629087

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	5		158		995
Tangible assets	6		2,388		3,206
			2,546		4,201
Current assets
Debtors: amounts falling due within one year	7	26,305		18
Cash at bank and in hand	8	48,595		4,399
		74,900		4,417
Creditors: amounts falling due within one year	9	(115,699)		(35,319)
Net current liabilities			(40,799)		(30,902)
Total assets less current liabilities			(38,253)		(26,701)

Net liabilities			(38,253)		(26,701)

Capital and reserves
Called up share capital	2	1
Share premium account	109,999	-
Shareholder loans	-	89,283
Profit and loss account	(148,254)	(115,985)
	(38,253)	(26,701)

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PICKHURST PARTNERS LIMITED

REGISTERED NUMBER: 13629087

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 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 income and retained earnings 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 by:

................................................ David Parker	................................................ Ben Cambage
Director	Director

Date: 25 September 2025	Date:25 September 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Pickhurst Partners Limited is a private limited company limited by share capital, incorporated in England and Wales. The company's registration number is 13629087. The address of the registered office is 1 Vincent Square, London, SW1P 2PN.

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 following principal accounting policies have been applied:

2.2

Going concern

The directors have confirmed that until the net liability position of £38,253 (2023: 26,701) improves, they will continue to provide financial support. For this reason, the directors therefore consider it is appropriate to continue preparing the financial statements on a going concern basis. The financial statements do not include any adjustments that would occur if financial support were to be withdrawn.

2.3

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue recognised is split into two streams, being the provision of temporary (contractor) placement services and the provision of permanent placement revenues.
Turnover arising from temporary placements is recognised over the period that temporary workers are provided and represents the amounts billed for the services of temporary workers, including the remuneration costs of the temporary workers.
Turnover recognised from temporary contract assignments and permanent placements, but not yet invoiced, at the reporting date, is correspondingly accrued on the balance sheet within "accrued income" as part of "Debtors: amounts falling due within one year" (see Note 6). No provision is made for the cancellation of placements prior to or shortly after the commencement of employment, since revenue is recognised after the commmencement of employment and instances of cancellation shortly after commencement of employment are historically low.
Permanent placement revenues are recognised by the company at the point that the candidate reaches their start date, which is when the company is contractually entitled to the commission revenue. Any back outs are recognised at the point in time that this occurs and where a liability to refund arises, is recognised via a refund of the sale.

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PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

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.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

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.

2.7

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates calculated to write off the costs, less estimated residual value, of each asset on a straight-line basis over its expected useful life as follows:
Website Development: 3 years
Residual value is calculated on prices prevailing at the date of acquisition.

2.8

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Computer equipment

33%

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.

2.9

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.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

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.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described above, the directors are
required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 in 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.

Page 6

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).

5.	Intangible assets

	Patents	Computer software	Total
	£	£	£
Cost
At 1 January 2024	480	2,030	2,510
At 31 December 2024	480	2,030	2,510
Amortisation
At 1 January 2024	-	1,515	1,515
Charge for the year on owned assets	160	677	837
At 31 December 2024	160	2,192	2,352
Net book value
At 31 December 2024	320	(162)	158
At 31 December 2023	480	515	995

Page 7

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 January 2024	4,564
	Additions	845
	At 31 December 2024	5,409
	Depreciation
	At 1 January 2024	1,359
	Charge for the year on owned assets	1,662
	At 31 December 2024	3,021
	Net book value
	At 31 December 2024	2,388
	At 31 December 2023	3,206

Debtors

					2024	2023
					£	£


Other debtors	1,818	18
Prepayments and accrued income	24,487	-
	26,305	18

8.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	48,595	4,399
	48,595	4,399

Page 8

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,743	10,970
Other taxation and social security	17,599	17,993
Other creditors	69,558	1
Accruals and deferred income	26,799	6,355
	115,699	35,319

10.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

2,000 (2023 - 1,000) Ordinary shares of £0.001 each	2	1

During the year, the company issued Ordinary shares with an aggregate nominal value of £1.
The company received total consideration of £110,000 in respect of those share issues, resulting in £109,999 of share premium.

11.	Pension commitments

During the period under review the company contributed £2,528 (2023: £2,610) through its defined-contribution pension scheme on behalf of its employees.
At the balance sheet date, pension contributions totalling £294 (2023: £nil) remained outstanding.

12.

Related party transactions

At the balance sheet date an amount of £1,818 (2023: £nil) was owed from a director. The amount is non-interest bearing and deemed repayable on demand. The amount was repaid within 9 months of the company year end.
At the balance sheet date an amount of £69,036 (2023: £nil) was owed to another director. There are no fixed repayment terms nor interest charged.
During the year, there was a loan owed to Resourcing Capital Ventures Limited totalling £90,966 (2023: £90,966). This was cleared on the 14th June 2024 when Resourcing Capital Ventures Limited ceased to be a related party.

Page 9

PICKHURST PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Controlling party

The directors do not consider there to be an ultimate controlling party.

Page 10