Silverfin false false 30/04/2025 01/05/2024 30/04/2025 H E Coles 28/04/2010 J H Maitland-Walker 28/04/2010 24 March 2026 The principal activity of the company is to act as a member of Maitland Walker LLP. 07237770 2025-04-30 07237770 bus:Director1 2025-04-30 07237770 bus:Director2 2025-04-30 07237770 2024-04-30 07237770 core:CurrentFinancialInstruments 2025-04-30 07237770 core:CurrentFinancialInstruments 2024-04-30 07237770 core:ShareCapital 2025-04-30 07237770 core:ShareCapital 2024-04-30 07237770 core:FurtherSpecificReserve1ComponentTotalEquity 2025-04-30 07237770 core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-30 07237770 core:RetainedEarningsAccumulatedLosses 2025-04-30 07237770 core:RetainedEarningsAccumulatedLosses 2024-04-30 07237770 core:CostValuation 2024-04-30 07237770 core:AdditionsToInvestments 2025-04-30 07237770 core:CostValuation 2025-04-30 07237770 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2025-04-30 07237770 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2025-04-30 07237770 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-04-30 07237770 2024-05-01 2025-04-30 07237770 bus:FilletedAccounts 2024-05-01 2025-04-30 07237770 bus:SmallEntities 2024-05-01 2025-04-30 07237770 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 07237770 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 07237770 bus:Director1 2024-05-01 2025-04-30 07237770 bus:Director2 2024-05-01 2025-04-30 07237770 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 07237770 (England and Wales)

# PICKETSTONES LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

PICKETSTONES LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

PICKETSTONES LIMITED

## BALANCE SHEET

As at 30 April 2025
PICKETSTONES LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 3,733,294 |  | 3,365,085
Investments | 4 | 438,426 |  | 516,925
|  | 4,171,720 |  | 3,882,010
Current assets |  |  |  |
Debtors | 5 | 1,029,908 |  | 1,032,501
Cash at bank and in hand |  | 114,187 |  | 2,556
|  | 1,144,095 |  | 1,035,057
Creditors: amounts falling due within one year | 6 | ( 305,899) |  | ( 190,804)
Net current assets |  | 838,196 |  | 844,253
Total assets less current liabilities |  | 5,009,916 |  | 4,726,263
Provision for liabilities | 7 | ( 128,963) |  | ( 122,045)
Net assets |  | 4,880,953 |  | 4,604,218
Capital and reserves |  |  |  |
Called-up share capital |  | 3 |  | 2
Fair value reserve |  | 438,780 |  | 411,108
Profit and loss account |  | 4,442,170 |  | 4,193,108
Total shareholders' funds |  | 4,880,953 |  | 4,604,218

For the financial year ending 30 April 2025 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 financial year 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Picketstones Limited (registered number: 07237770) were approved and authorised for issue by the Board of Directors on 24 March 2026. They were signed on its behalf by:

J H Maitland-Walker Director |

PICKETSTONES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
PICKETSTONES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Picketstones Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 The Parks, Minehead, TA24 8BT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover consists of profit share from Maitland Walker LLP, recognised on an accrual basis as well as rental income from various properties.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 May 2024 | 3,365,085
Additions | 340,537
Fair value movement | 27,672
As at 30 April 2025 | 3,733,294

Valuation

Investment properties were valued by the directors. The basis of this valuation was current market value.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 3,119,259 |  | 2,656,335

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 May 2024 | 130,924
Additions | 1
At 30 April 2025 | 130,925
Carrying value at 30 April 2025 | 130,925
Carrying value at 30 April 2024 | 130,924

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 May 2024 | 386,001 |  | 386,001
Transfer of capital account | ( 78,500) |  | ( 78,500)
At 30 April 2025 | 307,501 |  | 307,501
Carrying value at 30 April 2025 | 307,501 |  | 307,501
Carrying value at 30 April 2024 | 386,001 |  | 386,001

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by own subsidiaries | 0 |  | 59,000
Amounts owed by directors | 578,266 |  | 730,663
Prepayments | 0 |  | 2,477
VAT recoverable | 15,267 |  | 15,281
Other debtors | 436,375 |  | 225,080
| 1,029,908 |  | 1,032,501

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to Group undertakings | 177,143 |  | 0
Accruals | 4,298 |  | 4,297
Taxation and social security | 124,458 |  | 141,507
Other creditors | 0 |  | 45,000
| 305,899 |  | 190,804

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 128,963 |  | 122,045

#### 8. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 May 2024, the balance owed by JH Maitland - Walker was £365,332. During the year, the company made advances to the director amounting to £372,323 and received repayments of £448,522, leaving a balance of £289,133 at 30 April 2025.
At 1 May 2023, the balance owed by JH Maitland - Walker was £99,629. During the year, the company made advances to the director amounting to £382,281 and received repayments of £116,758 leaving a balance of £365,332 at 30 April 2024.
At 1 May 2024, the balance owed by H E Coles was £365,331. During the year, the company made advances to the director amounting to £372,323 and received repayments of £448,522, leaving a balance of £289,132 at 30 April 2025.
At 1 May 2023, the balance owed by H E Coles was £99,629. During the year, the company made advances to the director amounting to £382,281, and received repayments of £116,579, leaving a balance of £365,331 at 30 April 2024.