Pecard & Co. Ltd. Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03682122

Pecard & Co. Ltd.

Filleted Unaudited Financial Statements

31 December 2024

Pecard & Co. Ltd.

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Pecard & Co. Ltd.

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		1,960,770	2,364,580

Current assets

Cash at bank and in hand	146,789		116,110

Creditors: amounts falling due within one year	6	417,753		448,813
		---------		---------
Net current liabilities			270,964	332,703
			------------	------------
Total assets less current liabilities			1,689,806	2,031,877

Provisions

Taxation including deferred tax	161,957	263,178
	------------	------------
Net assets	1,527,849	1,768,699
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,527,749	1,768,599
	------------	------------
Shareholders funds	1,527,849	1,768,699
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Pecard & Co. Ltd.

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr P J Flower

Director

Company registration number: 03682122

Pecard & Co. Ltd.

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 New Creek Road, Faversham, Kent, ME13 7BU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents rental income received during the year, plus proceeds from any sales of freehold land or property.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% straight line
Equipment	-	25% straight line

Land and buildings has not been depreciated as the company holds it as an investment property.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	2,364,580	6,580	–	2,371,160
Additions	–	–	1,433	1,433
Disposals	–	( 6,580)	–	( 6,580)
Revaluations	( 404,885)	–	–	( 404,885)
	------------	-------	-------	------------
At 31 December 2024	1,959,695	–	1,433	1,961,128
	------------	-------	-------	------------
Depreciation
At 1 January 2024	–	6,580	–	6,580
Charge for the year	–	–	358	358
Disposals	–	( 6,580)	–	( 6,580)
	------------	-------	-------	------------
At 31 December 2024	–	–	358	358
	------------	-------	-------	------------
Carrying amount
At 31 December 2024	1,959,695	–	1,075	1,960,770
	------------	-------	-------	------------
At 31 December 2023	2,364,580	–	–	2,364,580
	------------	-------	-------	------------

Tangible assets held at valuation

Within Freehold Property is land and buildings with an original cost of £1,029,957. Within the profit and loss account is £929,737 of undistributable reserves in respect of property revaluations. The market value currently stands at £1,959,695. In the opinion of the Directors, this valuation gives a true and fair assessment of the value at the Balance Sheet date. Note the value is derived by the Directors who do not have a recognised and relevant professional qualification.

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	4,923	–
Corporation tax	36,185	27,033
Other creditors	20,929	20,929
Other creditors	355,716	400,851
	---------	---------
	417,753	448,813
	---------	---------

7. Related party transactions

At the balance sheet date the company owed the directors £228,380 (2023: £273,516). At the balance sheet date the company owed £124,836 (2023: £124,836) to the estate of a deceased director.