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Registered number: 3005085
Picard Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3005085
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 420,000 420,000
420,000 420,000
CURRENT ASSETS
Debtors 5 1,083 1,046
Cash at bank and in hand 54,237 57,810
55,320 58,856
Creditors: Amounts Falling Due Within One Year 6 (40,147 ) (44,687 )
NET CURRENT ASSETS (LIABILITIES) 15,173 14,169
TOTAL ASSETS LESS CURRENT LIABILITIES 435,173 434,169
Creditors: Amounts Falling Due After More Than One Year 7 - (1,870 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (37,772 ) (37,772 )
NET ASSETS 397,401 394,527
CAPITAL AND RESERVES
Called up share capital 9 2,000 2
Fair value reserve 10 266,495 266,495
Profit and Loss Account 128,906 128,030
SHAREHOLDERS' FUNDS 397,401 394,527
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jason Carey
Director
08/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Picard Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3005085 . The registered office is 433 Palatine Road, Northenden, Manchester, Lancashire, M22 4JS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 1 April 2024 420,000
As at 31 March 2025 420,000
Net Book Value
As at 31 March 2025 420,000
As at 1 April 2024 420,000
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Cost or valuation as at 31 March 2025 represented by:
Investment Properties
£
At cost 420,000
420,000
Investment property was valued on an open market basis on 31 March 2025 by the director. 
5. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 1,083 1,046
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,903 3,293
Bank loans and overdrafts 1,477 1,493
Corporation tax 3,959 4,652
Accruals and deferred income 3,989 3,927
Director's loan account 26,819 31,322
40,147 44,687
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 1,870
8. Deferred Taxation
The provision for deferred taxation is made up of revaluation of investment properties.
2025 2024
£ £
Other timing differences 37,772 37,772
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2,000 2
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10. Reserves
Fair Value Reserve
£
As at 1 April 2024 266,495
As at 31 March 2025 266,495
The fair value reserve represents the cumulative fair value gains and losses in respect of investment properties and their associated deferred tax.
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