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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Picton Jones (Asset Management) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Talbot House, 14 Digbeth, Birmingham, West Midlands, England, B5 6BH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover consists of chartered surveyors' fees and rental income and is exclusive of VAT.

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

No depreciation is provided in respect of freehold land and buildings as these are regularly maintained such that their useful economic life is considered to be indefinite. As such the directors consider that depreciation, both annually and cumulatively is immaterial. The directors consider that this accounting policy results in the financial statements giving a true and fair view. The effects of this departure from the companies act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

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

Investments held as fixed assets are stated at cost less any provision for impairment. Investments held as current assets are stated at the lower of cost and net realisable value.

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 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.

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

The average monthly number of persons (including directors) employed by the company during the year was:

Investment properties were valued on an open market basis on 31 August 2025 by the directors.

Retained earnings include £329,285 (2024: £329,285) in respect of the revaluation of investment property. This amount is non-distributable.