0 0 Picnichouse Limited 04871467 false 2024-09-01 2025-08-31 2025-08-31 The principal activity of the company is that of an investment company. Digita Accounts Production Advanced 6.30.9574.0 true false true 04871467 2024-09-01 2025-08-31 04871467 2025-08-31 04871467 bus:OrdinaryShareClass1 2025-08-31 04871467 core:FinancialAssetsFairValueThroughProfitOrLossDeferredTax 2025-08-31 04871467 core:FurtherSpecificReserve1ComponentTotalEquity 2025-08-31 04871467 core:RetainedEarningsAccumulatedLosses 2025-08-31 04871467 core:ShareCapital 2025-08-31 04871467 core:CurrentFinancialInstruments 2025-08-31 04871467 core:CurrentFinancialInstruments core:WithinOneYear 2025-08-31 04871467 core:CostValuation 2025-08-31 04871467 core:RevaluationsIncreaseDecreaseInInvestments 2025-08-31 04871467 core:DeferredTaxation 2025-08-31 04871467 bus:SmallEntities 2024-09-01 2025-08-31 04871467 bus:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 04871467 bus:FullAccounts 2024-09-01 2025-08-31 04871467 bus:SmallCompaniesRegimeForAccounts 2024-09-01 2025-08-31 04871467 bus:RegisteredOffice 2024-09-01 2025-08-31 04871467 bus:CompanySecretary1 2024-09-01 2025-08-31 04871467 bus:Director3 2024-09-01 2025-08-31 04871467 bus:OrdinaryShareClass1 2024-09-01 2025-08-31 04871467 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 04871467 bus:Agent1 2024-09-01 2025-08-31 04871467 core:FurtherSpecificReserve1ComponentTotalEquity 2024-09-01 2025-08-31 04871467 core:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 04871467 core:ShareCapital 2024-09-01 2025-08-31 04871467 core:DeferredTaxation 2024-09-01 2025-08-31 04871467 core:UKTax 2024-09-01 2025-08-31 04871467 1 2024-09-01 2025-08-31 04871467 countries:EnglandWales 2024-09-01 2025-08-31 04871467 2024-08-31 04871467 core:FurtherSpecificReserve1ComponentTotalEquity 2024-08-31 04871467 core:RetainedEarningsAccumulatedLosses 2024-08-31 04871467 core:ShareCapital 2024-08-31 04871467 core:CostValuation 2024-08-31 04871467 core:DeferredTaxation 2024-08-31 04871467 2023-09-01 2024-08-31 04871467 2024-08-31 04871467 bus:OrdinaryShareClass1 2024-08-31 04871467 core:FinancialAssetsFairValueThroughProfitOrLossDeferredTax 2024-08-31 04871467 core:CurrentFinancialInstruments 2024-08-31 04871467 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04871467 core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-01 2024-08-31 04871467 core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 04871467 core:ShareCapital 2023-09-01 2024-08-31 04871467 core:UKTax 2023-09-01 2024-08-31 04871467 2023-08-31 04871467 core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31 04871467 core:RetainedEarningsAccumulatedLosses 2023-08-31 04871467 core:ShareCapital 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04871467

Picnichouse Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 August 2025

Picnichouse Limited

Contents

Company Information | 1
Director's Report | 2
Statement of Comprehensive Income | 3
Statement of Financial Position | 4
Statement of Changes in Equity | 5
Notes to the Unaudited Financial Statements | 6 to 12

Picnichouse Limited

Company Information

Director | A J Sperrin

Company secretary | J Naish

Registered office | Willmott House 12 Blacks Road London W6 9EU

Accountants | Shaw Gibbs Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA

Picnichouse Limited

Director's Report for the Year Ended 31 August 2025

The director presents the annual report on the affairs of Picnichouse Limited, together with the unaudited financial statements for the year ended 31 August 2025.

Principal activity

The principal activity of the company is that of an investment company.

Director of the company

The director who held office during the year and up to the date of approval of this report was as follows:

A J Sperrin

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the director on 1 May 2026

......................................... A J Sperrin Director

Picnichouse Limited

Statement of Comprehensive Income
for the Year Ended 31 August 2025

| Note | 2025 £ | 2024 £
Administrative expenses |  | (4,540) | (4,581)
Operating loss |  | (4,540) | (4,581)
Gain/(loss) on financial assets at fair value through profit and loss |  | 9,002 | (56,264)
Income from other fixed asset investments |  | 12,003 | 12,003
Interest receivable and other similar income |  | 8,285 | 7,138
|  | 29,290 | (37,123)
Profit/(loss) before tax |  | 24,750 | (41,704)
Tax on profit/(loss) | 4 | (4,673) | 11,300
Profit/(loss) for the financial year |  | 20,077 | (30,404)

Picnichouse Limited

(Registration number: 04871467)
Statement of Financial Position as at 31 August 2025

| Note | 2025 £ | 2024 £
Non-current assets |  |  |
Investments | 5 | 337,585 | 328,584
Current assets |  |  |
Receivables | 6 | 125,597 | 176,781
Cash at bank | 7 | 12,868 | 613
|  | 138,465 | 177,394
Payables: Amounts falling due within one year | 8 | (143,289) | (195,545)
Net current liabilities |  | (4,824) | (18,151)
Total assets less current liabilities |  | 332,761 | 310,433
Provisions for liabilities | 9 | (40,539) | (38,288)
Net assets |  | 292,222 | 272,145
Equity |  |  |
Called up share capital | 10 | 1,000 | 1,000
Other reserves | 10 | 121,619 | 114,867
Retained earnings | 10 | 169,603 | 156,278
Shareholders' funds |  | 292,222 | 272,145

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements of Picnichouse Limited were approved and authorised for issue by the director on 1 May 2026

.........................................

A J Sperrin
Director

Picnichouse Limited

Statement of Changes in Equity
for the Year Ended 31 August 2025

| Share capital £ | Other reserves £ | Retained earnings £ | Total £
At 1 September 2024 | 1,000 | 114,867 | 156,278 | 272,145
Profit for the year | - | - | 20,077 | 20,077
Transfers | - | 6,752 | (6,752) | -
At 31 August 2025 | 1,000 | 121,619 | 169,603 | 292,222

| Share capital £ | Other reserves £ | Retained earnings £ | Total £
At 1 September 2023 | 1,000 | 157,065 | 144,484 | 302,549
Loss for the year | - | - | (30,404) | (30,404)
Transfers | - | (42,198) | 42,198 | -
At 31 August 2024 | 1,000 | 114,867 | 156,278 | 272,145

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025

1 | General information

Picnichouse Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2 | Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue represents income earned on investments.

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing
transaction are recorded at the undiscounted amount expected to be received, net of impairment.
Those that are receivable after more than one year or that constitute a financing transaction are
recorded initially at fair value less transaction costs and subsequently at amortised cost, net of
impairment.

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

2 | Accounting policies (continued)

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Trade and other payables are classified as current liabilities if the
company does not have an unconditional right, at the end of the reporting period, to defer settlement
of the creditor for at least twelve months after the reporting date. 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.
Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

4 | Taxation

Tax charged/(credited) in the income statement

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 2,422 | 2,766
Deferred taxation |  |
Arising from origination and reversal of timing differences | 2,251 | (14,066)
Tax expense/(receipt) in the income statement | 4,673 | (11,300)

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit/(loss) before tax | 24,750 | (41,704)
Corporation tax at standard rate | 6,188 | (10,426)
Tax decrease from changes in tax rates | (945) | (874)
Tax decrease from effect of dividends from UK companies | (570) | -
Total tax charge/(credit) | 4,673 | (11,300)

Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Financial assets at fair value through the income statement | 40,539

2024 | Liability £
Financial assets at fair value through the income statement | 38,288

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

5 | Investments

| 2025 £ | 2024 £
Listed investments | 337,585 | 328,584

| £
Valuation
At 1 September 2024 | 328,583
Revaluation | 9,002
At 31 August 2025 | 337,585
Carrying amount
At 31 August 2025 | 337,585
At 31 August 2024 | 328,584

The aggregate historical cost (reflecting any write downs to recoverable amount) that would have been included had the investment not been revalued at 31 August 2025 was £175,430 (2024: £175,430).

6 | Receivables

| 2025 £ | 2024 £
Prepayments | 10,356 | 5,690
Loans receivable | 115,241 | 171,091
| 125,597 | 176,781

7 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash at bank | 12,868 | 613

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

8 | Payables

Payables: amounts falling due within one year

| 2025 £ | 2024 £
Trade payables | 4,260 | 960
Accruals | 960 | 960
Corporation tax | 2,422 | 5,978
Other loans | 135,647 | 187,647
| 143,289 | 195,545

9 | Provisions for liabilities

| Deferred tax £
At 1 September 2024 | 38,288
Increase in existing provisions | 2,251
At 31 August 2025 | 40,539

The deferred tax liability above represents the deferred tax liability on the gain on listed investments recognised within equity.

10 | Share capital and reserves

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Other reserves represents the cumulative effects of revaluations of listed investments which are revalued to fair value at each reporting date. The reserves form part of the company's non-distributable reserves.

Picnichouse Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2025 (continued)

11 | Control

The company is controlled by W L Babcock by virtue of his ownership of 60% of the issued share capital of the company.

12 | Related party transactions

The amount outstanding to W L Babcock at the balance sheet date was £135,647 (2024: £187,647). This loan is interest free, unsecured and has no formal repayment schedule.

13 | Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.