Company registration number 04360541 (England and Wales)
PIERCE C. A. LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PIERCE C. A. LIMITED
COMPANY INFORMATION
Directors
Simon Diggle
Nadeem Tariq Hussain
Lisa Jane Kennery
James Matthew King
Thomas John Wilkinson
Kevin Michael Steven
Dominic John Ball
Company number
04360541
Registered office
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Bankers
Natwest Bank Plc
35 King William Street
Blackburn
Lancashire
BB1 7DJ
PIERCE C. A. LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 9
PIERCE C. A. LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 May 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
38,375
32,117
Tangible assets
4
179,237
143,001
217,612
175,118
Current assets
Stocks
989,131
1,071,033
Debtors
5
2,306,027
1,755,423
Cash at bank and in hand
235,858
242,585
3,531,016
3,069,041
Creditors: amounts falling due within one year
6
(1,017,996)
(1,072,018)
Net current assets
2,513,020
1,997,023
Total assets less current liabilities
2,730,632
2,172,141
Provisions for liabilities
(37,847)
(30,247)
Net assets
2,692,785
2,141,894
Capital and reserves
Called up share capital
7
20
645,000
Profit and loss reserves
2,692,765
1,496,894
Total equity
2,692,785
2,141,894
PIERCE C. A. LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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

T he member has not required the company to obtain an audit of its financial statements for the Period 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

The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
James Matthew King
Director
Company registration number 04360541 (England and Wales)
PIERCE C. A. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2023
645,000
1,387,175
2,032,175
Period ended 31 May 2024:
Profit and total comprehensive income
-
609,719
609,719
Dividends
-
(500,000)
(500,000)
Balance at 31 May 2024
645,000
1,496,894
2,141,894
Period ended 31 March 2025:
Profit and total comprehensive income
-
550,877
550,877
Issue of share capital
7
14
-
14
Reduction of shares
7
(644,994)
644,994
-
0
Balance at 31 March 2025
20
2,692,765
2,692,785
PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Pierce C. A. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

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 are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Pierce C.A. Limited is a wholly owned subsidiary of Pierce Group Limited and the results of Pierce C.A Limited are included in the consolidated accounts of Cow Corner Accounting 1 Limited which are available from its registered office, 1 Air Street, Brighton, England, BN1 3FB.

1.2
Going concern

The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true

1.3
Reporting period

The company's accounting period has been shortened so as to end on 31 March 2025. The reason for the change is so that the accounting period end shall be coterminous with that of it's ultimate parent company. As a result of the change the comparative amounts and related notes are not entirely comparable with the current accounting period.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.5
Intangible fixed assets - goodwill

Goodwill represents the acquisition of client books. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 4 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% Straight line
1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the remaining lease term
Fixtures, fittings & equipment
15% reducing balance and 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use.

1.9
Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Work in progress for professional fees unbilled is recorded at its estimated selling price relevant to its stage of completion.

1.10
Cash at bank and in hand

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 current liabilities.

1.11
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.12
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
79
82
3
Intangible fixed assets
Goodwill
Software
Total
£
£
£
Cost
At 1 June 2024
71,724
-
0
71,724
Additions
-
0
27,667
27,667
At 31 March 2025
71,724
27,667
99,391
Amortisation and impairment
At 1 June 2024
39,607
-
0
39,607
Amortisation charged for the Period
21,409
-
0
21,409
At 31 March 2025
61,016
-
0
61,016
Carrying amount
At 31 March 2025
10,708
27,667
38,375
At 31 May 2024
32,117
-
0
32,117
PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 8 -
4
Tangible fixed assets
Leasehold expenditure
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2024
50,262
878,733
928,995
Additions
35,143
60,201
95,344
Disposals
-
0
(48,169)
(48,169)
At 31 March 2025
85,405
890,765
976,170
Depreciation and impairment
At 1 June 2024
16,000
769,994
785,994
Depreciation charged in the Period
11,568
47,540
59,108
Eliminated in respect of disposals
-
0
(48,169)
(48,169)
At 31 March 2025
27,568
769,365
796,933
Carrying amount
At 31 March 2025
57,837
121,400
179,237
At 31 May 2024
34,262
108,739
143,001
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,177,008
1,105,913
Amounts owed by group undertakings
843,194
336,669
Other debtors
5,250
5,236
Prepayments and accrued income
280,575
307,605
2,306,027
1,755,423
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
162,866
144,768
Amounts owed to group undertakings
11,570
297,575
Corporation tax
66,936
73,930
Other taxation and social security
585,579
380,438
Accruals and deferred income
191,045
175,307
1,017,996
1,072,018
PIERCE C. A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 9 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £0.00001 each
645,000
645,000
6
645,000
B Ordinary shares of £1 each
14
0
14
-
0
645,014
645,000
20
645,000

On 2 August 2024 the company issued 14 B Ordinary shares of £1 each for cash consideration.

On 18 March 2025 there was a capital reduction of £644,993.55 in respect of the company's A Ordinary shares by way of a reduction in the nominal value of each share from £1 to £0.00001.

8
Financial commitments, guarantees and contingent liabilities

The company has provided a debenture in respect of the borrowings of its wider group.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding annual commitments for future minimum lease payments under non-cancellable operating leases expiring between 2 and 5 years, as follows:

2025
2024
£
£
Total future commitments
264,771
269,167
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