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Registration number: 03353703

Pedersen Properties Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Pedersen Properties Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Pedersen Properties Limited

Company Information

Directors | O E Pedersen G Pedersen G Hughes M Pedersen

Registered office | The Old Mill Site Roughton Moor Woodhall Spa Lincolnshire LN10 6YQ

Pedersen Properties Limited

(Registration number: 03353703)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 971,979 | 1,145,247
Investment property | 5 | 4,003,745 | 3,870,353
|  | 4,975,724 | 5,015,600
Current assets |  |  |
Stocks | 6 | 247,150 | 276,238
Debtors | 7 | 398,795 | 411,680
Cash at bank and in hand |  | 72,698 | 80,579
|  | 718,643 | 768,497
Creditors: Amounts falling due within one year | 8 | (1,709,889) | (1,959,719)
Net current liabilities |  | (991,246) | (1,191,222)
Total assets less current liabilities |  | 3,984,478 | 3,824,378
Creditors: Amounts falling due after more than one year | 8 | (1,677,460) | (1,694,352)
Provisions for liabilities |  | (206,461) | (205,628)
Net assets |  | 2,100,557 | 1,924,398
Capital and reserves |  |  |
Called up share capital | 10 | 100 | 100
Other reserves |  | 698,540 | 698,540
Retained earnings |  | 1,401,917 | 1,225,758
Shareholders' funds |  | 2,100,557 | 1,924,398

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 October 2025 and signed on its behalf by:

......................................... M Pedersen Director

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03353703.

The address of its registered office is:
The Old Mill Site
Roughton Moor
Woodhall Spa
Lincolnshire
LN10 6YQ
These financial statements cover the individual entity, Pedersen Properties Limited.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 subject to the departure detailed below.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Departures from Companies Act requirements

No depreciation has been charged on freehold land and buildings as it is maintained to such a standard that it's residual value is not less than it's cost. Management have concluded that this does not affect the accounts from showing a true and fair view. Apart from this departure the company has complied with the relevant accounting standards and legislation.

Going concern

The financial statements have been prepared on a going concern basis. The balance sheet at 30 June 2025 shows net current liabilities. However, included in creditors due within one year are amounts due to one of the directors who has confirmed that these amounts will not be recalled at short notice and only when funds permit.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services and the rental of properties in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 10% & 25% reducing balance basis
Investment properties | No depreciation is charged
Freehold land and buildings | No depreciation is charged
Fixtures and fittings | 25% reducing balance basis
Motor vehicles | 25% reducing balance basis

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The fair value is based on the estimated open market value with vacant possession.

Intangible assets

Entitlements are shown at historical cost less any subsequent accumulated depreciation and subsequent impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Entitlements | 33% straight line

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 11 (2024 - 10).

4 | Tangible assets

| Land and buildings £ | Properties under construction £ | Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 July 2024 | 379,271 | 130,840 | 8,297 | 994,540 | 160,610 | 1,673,558
Additions | - | 2,552 | - | - | 98,972 | 101,524
Disposals | - | - | - | (3,491) | (9,431) | (12,922)
Transfers | - | (133,392) | - | - | - | (133,392)
At 30 June 2025 | 379,271 | - | 8,297 | 991,049 | 250,151 | 1,628,768
Depreciation
At 1 July 2024 | - | - | 7,342 | 463,238 | 57,730 | 528,310
Charge for the year | - | - | 239 | 92,645 | 44,572 | 137,456
Eliminated on disposal | - | - | - | (3,228) | (5,749) | (8,977)
At 30 June 2025 | - | - | 7,581 | 552,655 | 96,553 | 656,789
Carrying amount
At 30 June 2025 | 379,271 | - | 716 | 438,394 | 153,598 | 971,979
At 30 June 2024 | 379,271 | 130,839 | 955 | 531,302 | 102,880 | 1,145,247

5 | Investment properties

| 2025 £
At 1 July 2024 | 3,870,353
Transfers | 133,392
At 30 June 2025 | 4,003,745

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

6 | Stock

| 2025 £ | 2024 £
Stock | 247,150 | 276,238

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 321,413 | 351,434
Prepayments and accrued income | 75,682 | 60,246
Other debtors | 1,700 | -
| 398,795 | 411,680

8 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 9 | 41,242 | 68,710
Trade creditors |  | 106,548 | 145,405
Taxation and social security |  | 151,992 | 117,267
Accruals and deferred income |  | 56,093 | 58,427
Other creditors |  | 1,354,014 | 1,569,910
|  | 1,709,889 | 1,959,719

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 1,677,460 | 1,694,352

| 2025 £ | 2024 £
Due after more than five years |  |
After more than five years by instalments | 1,322,318 | 1,178,930

| - | -

Creditor amounts falling due within one year which security has been given includes a bank loan of £41,242 (2024 - £68,710) and finance leases of £79,136 (2024 - £50,512).
Creditor amounts falling due after one year which security has been given includes a bank loan of £1,514,614 (2024 - £1,513,565) and finance leases of £162,846 (2024 - £180,787).
The bank loan is secured by charges over the company's assets and personal guarantees given by the company's directors. The finance lease liabilities are secured against the assets that they relate to.

9 | Loans and borrowings

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank loans | 1,514,614 | 1,513,565
Finance lease liabilities | 162,846 | 180,787
| 1,677,460 | 1,694,352

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 41,242 | 68,710
Finance lease liabilities | 79,136 | 50,512
Other borrowings | 1,263,800 | 1,515,688
| 1,384,178 | 1,634,910

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share capital of £1 each | 100 | 100 | 100 | 100

Pedersen Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

11 | Related party transactions

Expenditure with and payables to related parties

2025 | Key management £
Amounts payable to related party | 1,263,800

2024 | Key management £
Amounts payable to related party | 1,515,688