REGISTERED NUMBER: 02440406 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 MARCH 2025

FOR

PIKEMERE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Quinlan

P Quinlan

P J Quinlan

REGISTERED OFFICE:

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

REGISTERED NUMBER:

02440406 (England and Wales)

ACCOUNTANTS:

Dafferns LLP

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

FIXED ASSETS

Tangible assets

5

2,200,000

1,800,000

Investments

6

2,605,190

2,605,190

4,805,190

4,405,190

CURRENT ASSETS

Debtors

7

55,242

52,147

Cash at bank

33,167

21,991

88,409

74,138

CREDITORS

Amounts falling due within one year

8

1,303,564

1,170,118

NET CURRENT LIABILITIES

(1,215,155

)

(1,095,980

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,590,035

3,309,210

CREDITORS

Amounts falling due after more than one year

9

(986,800

)

(1,066,800

)

PROVISIONS FOR LIABILITIES

(327,000

)

(227,000

)

NET ASSETS

2,276,235

2,015,410

CAPITAL AND RESERVES

Called up share capital

10

200

200

Investment property

revaluation reserve

11

1,349,467

1,049,467

Retained earnings

926,568

965,743

SHAREHOLDERS' FUNDS

2,276,235

2,015,410

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 March 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 24 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

P J Quinlan - Director

1.	STATUTORY INFORMATION

Pikemere Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Pikemere Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the value of rents and services invoiced to customers during the year excluding value added tax.

Tangible fixed assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Income Statement in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Fixture and fittings

-

15% on reducing balance

Long leasehold

-

not depreciated

Any gains and losses on the disposal of tangible fixed assets are recognised in the Income Statement in the year that the disposal takes place.

Expenditure on fixture and fittings provided for the specific requirements of a tenant are depreciated over the period of the lease, or ten years if shorter, by equal annual instalments.

Investment property

In accordance with the Financial Reporting Standard 102, investment properties are shown in the Balance Sheet at fair value, with any aggregate surplus or deficit recognised in the Income Statement. Deferred tax is provided on any gain at the rate expected to apply if the property were sold. No depreciation is provided in respect of investment properties.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme are charged to the Income Statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST OR VALUATION

At 25 March 2024

1,800,000

55,975

1,855,975

Revaluations

400,000

-

400,000

At 24 March 2025

2,200,000

55,975

2,255,975

DEPRECIATION

At 25 March 2024

and 24 March 2025

-

55,975

55,975

NET BOOK VALUE

At 24 March 2025

2,200,000

-

2,200,000

At 24 March 2024

1,800,000

-

1,800,000

Cost or valuation at 24 March 2025 is represented by:

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

Valuation in 2021

1,276,467

-

1,276,467

Valuation in 2025

400,000

-

400,000

Cost

523,533

55,975

579,508

2,200,000

55,975

2,255,975

If freehold & leasehold property had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

579,508

579,508

The leasehold property was valued in July 2021, on an open market basis by Colliers International UK. In the opinion of the directors, the property has increased in value since this professional valuation and has been revalued in the year ended 24 March 2025.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 25 March 2024

and 24 March 2025

2,605,190

NET BOOK VALUE

At 24 March 2025

2,605,190

At 24 March 2024

2,605,190

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

54,173

50,351

Prepayments

1,069

1,796

55,242

52,147

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

11,372

82

Amounts owed to group undertakings

1,074,461

903,261

Tax

35,544

29,846

Social security and other taxes

-

3,736

VAT

8,244

33,094

Other creditors

119,247

144,815

Deferred income

45,144

45,144

Accrued expenses

9,552

10,140

1,303,564

1,170,118

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans - 1-2 years

986,800

1,066,800

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

4,997

Ordinary A

1p

50

50

14,682

Ordinary B

1p

147

147

321

Ordinary C

1p

3

3

200

200

11.

RESERVES

Investment

property

revaluation

reserve

£

At 25 March 2024

1,049,467

Revaluation gain/loss transfer

400,000

Deferred tax

(100,000

)

At 24 March 2025

1,349,467

12.	RELATED PARTY DISCLOSURES

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year to 24 March 2017 Mr J M Quinlan and Mrs P Quinlan each lent the Company £600,000 as unsecured loan notes, included within creditors falling due after more than one year. The amount owing by the Company at the year end totalled £986,800 (2024: £1,066,800). Interest is charged on the loan noted held by Mrs P Quinlan at 4%, amounting to £21,336 (2024: £21,335).

The following deposits due to Mr J M Quinlan and Mrs P Quinlan, £17,539 (2024: £14,426) and £86,234 (2024: £106,462) respectively, are included within other creditors falling due within one year: Interest was charged on the deposit due to Mrs P Quinlan at a rate of 2%, amounting to £2,129 (2024: £2,075).