Caseware UK (AP4) 2024.0.164 2024.0.164 2025-08-31 2025-08-31 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-09-01 false No description of principal activity 7 7 false 12659627 2024-09-01 2025-08-31 12659627 2023-09-01 2024-08-31 12659627 2025-08-31 12659627 2024-08-31 12659627 c:Director1 2024-09-01 2025-08-31 12659627 c:Director2 2024-09-01 2025-08-31 12659627 c:RegisteredOffice 2024-09-01 2025-08-31 12659627 d:Buildings 2024-09-01 2025-08-31 12659627 d:Buildings 2025-08-31 12659627 d:Buildings 2024-08-31 12659627 d:Buildings d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 12659627 d:PlantMachinery 2024-09-01 2025-08-31 12659627 d:PlantMachinery 2025-08-31 12659627 d:PlantMachinery 2024-08-31 12659627 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 12659627 d:OfficeEquipment 2024-09-01 2025-08-31 12659627 d:OfficeEquipment 2025-08-31 12659627 d:OfficeEquipment 2024-08-31 12659627 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 12659627 d:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 12659627 d:Goodwill 2025-08-31 12659627 d:Goodwill 2024-08-31 12659627 d:CurrentFinancialInstruments 2025-08-31 12659627 d:CurrentFinancialInstruments 2024-08-31 12659627 d:CurrentFinancialInstruments d:WithinOneYear 2025-08-31 12659627 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12659627 d:ShareCapital 2025-08-31 12659627 d:ShareCapital 2024-08-31 12659627 d:RevaluationReserve 2024-09-01 2025-08-31 12659627 d:RevaluationReserve 2025-08-31 12659627 d:RevaluationReserve 2024-08-31 12659627 d:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 12659627 d:RetainedEarningsAccumulatedLosses 2025-08-31 12659627 d:RetainedEarningsAccumulatedLosses 2024-08-31 12659627 c:OrdinaryShareClass1 2024-09-01 2025-08-31 12659627 c:OrdinaryShareClass1 2025-08-31 12659627 c:OrdinaryShareClass2 2024-09-01 2025-08-31 12659627 c:OrdinaryShareClass2 2025-08-31 12659627 c:OrdinaryShareClass3 2024-09-01 2025-08-31 12659627 c:OrdinaryShareClass3 2025-08-31 12659627 c:OrdinaryShareClass3 2024-08-31 12659627 c:OrdinaryShareClass4 2024-09-01 2025-08-31 12659627 c:OrdinaryShareClass4 2025-08-31 12659627 c:OrdinaryShareClass4 2024-08-31 12659627 c:FRS102 2024-09-01 2025-08-31 12659627 c:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 12659627 c:FullAccounts 2024-09-01 2025-08-31 12659627 c:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 12659627 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-01 2025-08-31 12659627 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2025-08-31 12659627 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-08-31 12659627 5 2024-09-01 2025-08-31 12659627 d:Goodwill d:OwnedIntangibleAssets 2024-09-01 2025-08-31 12659627 e:PoundSterling 2024-09-01 2025-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12659627 PICTURECRAFT OF HOLT LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2025
PICTURECRAFT OF HOLT LTD COMPANY INFORMATION
Directors | M J Hill
| T M Hill
Registered number | 12659627
Registered office | 7 The Close
| Norwich
| Norfolk
| NR1 4DJ
Accountants | MA Partners LLP
| Chartered Accountants
| 7 The Close
| Norwich
| Norfolk
| NR1 4DJ
PICTURECRAFT OF HOLT LTD CONTENTS
| Page
Accountants' Report | 1
Balance Sheet | 2 - 3
Notes to the Financial Statements | 4 - 12
PICTURECRAFT OF HOLT LTD CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PICTURECRAFT OF HOLT LTD FOR THE YEAR ENDED 31 AUGUST 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Picturecraft of Holt Ltd for the year ended 31 August 2025 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of Directors of Picturecraft of Holt Ltd, as a body, in accordance with the terms of our engagement letter dated 2 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Picturecraft of Holt Ltd and state those matters that we have agreed to state to the Board of Directors of Picturecraft of Holt Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Picturecraft of Holt Ltd and its Board of Directors, as a body, for our work or for this report. It is your duty to ensure that Picturecraft of Holt Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Picturecraft of Holt Ltd. You consider that Picturecraft of Holt Ltd 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 Picturecraft of Holt Ltd. 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. MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ 16 October 2025 Page 1
PICTURECRAFT OF HOLT LTD REGISTERED NUMBER: 12659627 BALANCE SHEET AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | 1,767
Tangible assets | 5 |  | 182,728 |  | 183,912
|  |  | 182,728 |  | 185,679
Current assets |  |  |  |  |
Stocks |  | 62,754 |  | 64,692 |
Debtors: amounts falling due within one year | 6 | 3,078 |  | 3,385 |
Cash at bank and in hand |  | 62,082 |  | 71,517 |
|  | 127,914 |  | 139,594 |
Creditors: amounts falling due within one year | 7 | (21,636) |  | (54,998) |
Net current assets |  |  | 106,278 |  | 84,596
Total assets less current liabilities |  |  | 289,006 |  | 270,275
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (404) |  | (820) |
|  |  | (404) |  | (820)
Net assets |  |  | 288,602 |  | 269,455
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Revaluation reserve | 10 |  | 180,000 |  | 180,000
Profit and loss account | 10 |  | 108,502 |  | 89,355
|  |  | 288,602 |  | 269,455
Page 2
PICTURECRAFT OF HOLT LTD REGISTERED NUMBER: 12659627 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2025 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 profit and loss account 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 16 October 2025.
M J Hill
Director
The notes on pages 4 to 12 form part of these financial statements. Page 3
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
The Company is a United Kingdom Company limited by shares. It is both incorporated and domiciled in England and Wales. The address of the registered office is 7 The Close, Norwich, Norfolk, United Kingdom, NR1 4DJ . The Company's principal activity is that of the sale of art materials and picture framing and the Company's principal place of activity is North Norfolk.. 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 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 4
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.5 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.
| 2.6 | 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. Page 5
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.6 | 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 both the straight-line method and the reducing balance method.. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | Not depreciated
|  |  |  | Plant and machinery | - | 25% reducing balance
|  |  |  | Office equipment | - | 3 years straight Line
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.
| 2.7 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 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. Page 6
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 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.
| 2.12 | 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. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Page 7
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Other financial instruments Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2024 - 7).
Page 8
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 September 2024 | 8,836
| At 31 August 2025 | 8,836
| Amortisation |
| At 1 September 2024 | 7,069
| Charge for the year on owned assets | 1,767
| At 31 August 2025 | 8,836
| Net book value |
| At 31 August 2025 | -
| At 31 August 2024 | 1,767
Page 9
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 September 2024 | 180,000 | 9,076 | 1,561 | 190,637
| At 31 August 2025 | 180,000 | 9,076 | 1,561 | 190,637
| Depreciation |  |  |  |
| At 1 September 2024 | - | 5,813 | 911 | 6,724
| Charge for the year on owned assets | - | 816 | 369 | 1,185
| At 31 August 2025 | - | 6,629 | 1,280 | 7,909
| Net book value |  |  |  |
| At 31 August 2025 | 180,000 | 2,447 | 281 | 182,728
| At 31 August 2024 | 180,000 | 3,263 | 649 | 183,912
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 2,880 | 3,207
| Prepayments | 198 | 178
|  | 3,078 | 3,385
Page 10
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 5,539 | 3,745
| Corporation tax | 5,993 | 5,121
| Other taxation and social security | 7,261 | 6,790
| Directors loan account | 2,008 | 39,008
| Accruals and deferred income | 835 | 334
|  | 21,636 | 54,998
8. | Provisions
| At 31 August 2025
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 45 A Ordinary shares of £1.00 each | 45 | 45
|  | 45 B Ordinary shares of £1.00 each | 45 | 45
|  | 5 5 C Ordinary shares of £1.00 each | 5 | 5
|  | 5 5 D Ordinary shares of £1.00 each | 5 | 5
|  |  | 100 | 100
10. | Reserves
Revaluation reserve The revaluation reserve represents the revaluation of the Company's freehold property to fair value. Profit and loss account The profit and loss account includes all current and prior period retained profits and losses. Page 11
PICTURECRAFT OF HOLT LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £203 (2024: £203) were payable to the fund at the balance sheet date and are included in creditors.
12. | Related party transactions
| As at 31 August 2025, the Company owed the directors £2,008 (2024: £33,008).
Page 12