REGISTERED NUMBER: 02967086 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Pickering Properties Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S E Pickering

SECRETARY:

S E Pickering

REGISTERED OFFICE:

3 - 5 College Street

Nottingham

Nottinghamshire

NG1 5AQ

REGISTERED NUMBER:

02967086 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,962

2,681

Investment property

5

140,660,000

140,660,000

140,662,962

140,662,681

CURRENT ASSETS

Debtors

11,580,054

12,044,598

Cash at bank

2,822,428

2,938,746

14,402,482

14,983,344

CREDITORS

Amounts falling due within one year

6,287,838

6,183,321

NET CURRENT ASSETS

8,114,644

8,800,023

TOTAL ASSETS LESS CURRENT LIABILITIES

148,777,606

149,462,704

CREDITORS

Amounts falling due after more than one year

(27,502,500

)

(32,002,500

)

PROVISIONS FOR LIABILITIES

(9,897,229

)

(9,839,648

)

NET ASSETS

111,377,877

107,620,556

CAPITAL AND RESERVES

Called up share capital

7

2,500

2,500

Share premium

15,791,925

15,791,925

Revaluation reserve

8

45,726,287

45,726,287

Capital redemption reserve

500

500

Retained earnings

49,856,665

46,099,344

SHAREHOLDERS' FUNDS

111,377,877

107,620,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorised for issue by the director and authorised for issue on 14 October 2025 and were signed by:

S E Pickering - Director

1.	STATUTORY INFORMATION

Pickering Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The functional currency of Pickering Properties Limited is considered to be pounds sterling.

Turnover

Turnover represents net rental income receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Debt instruments

Debt instruments are initially recognised at the present value of future cashflows and subsequently measured at amortised cost using an effective rate of interest.

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 taxation

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.

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

8,455

Additions

2,142

At 31 March 2025

10,597

DEPRECIATION

At 1 April 2024

5,774

Charge for year

1,861

At 31 March 2025

7,635

NET BOOK VALUE

At 31 March 2025

2,962

At 31 March 2024

2,681

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

140,660,000

NET BOOK VALUE

At 31 March 2025

140,660,000

At 31 March 2024

140,660,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

53,491,655

Cost

87,168,345

140,660,000

The investment properties are valued at fair value by the director.

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

29,702,500

34,202,500

The borrowing's of Pickering Properties Limited are secured by a first legal charge over the Investment Properties of the company, an unscheduled mortgage debenture incorporating a fixed and floating charge over all the current and future assets of the company and a guarantee from the parent company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

250,000

Ordinary

£0.01

2,500

2,500

8.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

45,726,287

9.	ULTIMATE CONTROLLING PARTY

Highfield House Investment Properties Limited (3-5 College Street, Nottingham, NG1 5AQ) is the ultimate parent company by virtue of its 100% shareholding in Pickering Properties Limited.

S E Pickering is the ultimate controlling party by virtue of her shareholding in Highfield House Investment Properties Limited.