Pepper Commercial (Exeter) Limited 09875416 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of commercial property agents Digita Accounts Production Advanced 6.30.9574.0 true true 09875416 2024-04-01 2025-03-31 09875416 2025-03-31 09875416 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2025-03-31 09875416 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2025-03-31 09875416 core:CurrentFinancialInstruments 2025-03-31 09875416 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 09875416 core:Non-currentFinancialInstruments 2025-03-31 09875416 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 09875416 core:FurnitureFittingsToolsEquipment 2025-03-31 09875416 bus:SmallEntities 2024-04-01 2025-03-31 09875416 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 09875416 bus:FilletedAccounts 2024-04-01 2025-03-31 09875416 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09875416 bus:RegisteredOffice 2024-04-01 2025-03-31 09875416 bus:Director2 2024-04-01 2025-03-31 09875416 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-04-01 2025-03-31 09875416 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-04-01 2025-03-31 09875416 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09875416 bus:Agent1 2024-04-01 2025-03-31 09875416 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 09875416 core:OfficeEquipment 2024-04-01 2025-03-31 09875416 core:PlantMachinery 2024-04-01 2025-03-31 09875416 core:OtherRelatedParties 2024-04-01 2025-03-31 09875416 1 2024-04-01 2025-03-31 09875416 countries:EnglandWales 2024-04-01 2025-03-31 09875416 2024-03-31 09875416 core:FurnitureFittingsToolsEquipment 2024-03-31 09875416 2023-04-01 2024-03-31 09875416 2024-03-31 09875416 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-03-31 09875416 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-03-31 09875416 core:CurrentFinancialInstruments 2024-03-31 09875416 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09875416 core:Non-currentFinancialInstruments 2024-03-31 09875416 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09875416 core:FurnitureFittingsToolsEquipment 2024-03-31 09875416 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 09875416 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 09875416 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 09875416 core:LandBuildings 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09875416

Pepper Commercial (Exeter) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Pepper Commercial (Exeter) Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Pepper Commercial (Exeter) Limited

Company Information

Director | Mr AL Parsons

Registered office | C/o Wortham Jaques 130A High Street Crediton Devon EX17 3LQ

Accountants | Wortham Jaques Limited Chartered Accountants & Business Advisers130a High Street, Crediton, Devon EX17 3LQ

Pepper Commercial (Exeter) Limited

(Registration number: 09875416)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 3,704 | 2,674
Investment property | 5 | 250,000 | 250,000
|  | 253,704 | 252,674
Current assets |  |  |
Debtors | 6 | 5,825 | 14,156
Cash at bank and in hand |  | 2 | 2
|  | 5,827 | 14,158
Creditors: Amounts falling due within one year | 7 | (46,169) | (48,005)
Net current liabilities |  | (40,342) | (33,847)
Total assets less current liabilities |  | 213,362 | 218,827
Creditors: Amounts falling due after more than one year | 7 | (59,986) | (70,154)
Provisions for liabilities |  | (11,907) | (11,649)
Net assets |  | 141,469 | 137,024
Capital and reserves |  |  |
Called up share capital | 8 | 2 | 2
Revaluation reserve |  | 32,942 | 32,942
Retained earnings |  | 108,525 | 104,080
Shareholders' funds |  | 141,469 | 137,024

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 November 2025

Pepper Commercial (Exeter) Limited

(Registration number: 09875416)
Balance Sheet as at 31 March 2025

......................................... Mr AL Parsons Director

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Wortham Jaques
130A High Street
Crediton
Devon
EX17 3LQ
United Kingdom

These financial statements were authorised for issue by the director on 3 November 2025.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

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.

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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
Office equipment | 20% reducing balance basis
Bicycle | over 5 years straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 April 2024 | 7,844 | 7,844
Additions | 2,632 | 2,632
At 31 March 2025 | 10,476 | 10,476
Depreciation
At 1 April 2024 | 5,170 | 5,170
Charge for the year | 1,602 | 1,602
At 31 March 2025 | 6,772 | 6,772
Carrying amount
At 31 March 2025 | 3,704 | 3,704
At 31 March 2024 | 2,674 | 2,674

5 | Investment properties

| 2025 £
At 1 April | 250,000
At 31 March | 250,000

Fair valuation was carried out by Stratton Creber Commercial on 20 June 2024.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 2,910 | 7,857
Prepayments | 1,633 | 1,276
Other debtors | 1,282 | 5,023
| 5,825 | 14,156

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 4,992 | 6,586
Trade creditors |  | 616 | 1,733
Taxation and social security |  | 22,579 | 24,633
Accruals and deferred income |  | 1,792 | 1,646
Other creditors |  | 16,190 | 13,407
|  | 46,169 | 48,005

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 59,986 | 70,154

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £110,036 (2018 - £111,936).

Creditors include bank loans repayable by instalments of £110,036 (2019 - £111,936) due after more than five years.

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A share of £1 each | 1 | 1 | 1 | 1
Ordinary B share of £1 each | 1 | 1 | 1 | 1
| 2 | 2 | 2 | 2

9 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | 17,615 | 17,615

10 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 59,986 | 70,154

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | 4,992 | 6,586

11 | Dividends

Final dividends paid

|  | 2025 £ |  | 2024 £
Final dividend of £Nil (2024 - £31,000.00) per each Ordinary A share |  | - |  | 31,000
Final dividend of £Nil (2024 - £10,000.00) per each Ordinary B share |  | - |  | 10,000
|  | - |  | 41,000

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of £31,500.00 (2024 - £Nil) per each Ordinary A share |  | 31,500 |  | -
Interim dividend of £28,000.00 (2024 - £1,000.00) per each Ordinary B share |  | 28,000 |  | 1,000
|  | 59,500 |  | 1,000

Recommended final dividends paid and not recognised in the accounts

The director is recommending the following final dividends:

£- per each Ordinary B share share totalling £- (2024 - £-)

These dividends have not been accrued in the balance sheet.

12 | Related party transactions

Pepper Commercial (Exeter) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 11,500 | 11,500

Dividends paid to the director

|  | 2025 £ |  | 2024 £
Mr AL Parsons |  |  |  |
Dividends paid |  | 31,500 |  | 31,000

Summary of transactions with other related parties

The following companies have directors in common Aaron Fox Limited
Lynx House Limited
Lynx House Limited paid Pepper Commercial (Exeter) Ltd management charges during the year of £3,500 (2024 - £3,500)

13 | Parent and ultimate parent undertaking

The ultimate controlling party is the company's directors.