Company registration number 11574230 (England and Wales)
PEMICAN DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
Richard Anthony
Chartered Accountants
PEMICAN DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PEMICAN DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
81,902
109,232
Investments
5
1
1
81,903
109,233
Current assets
Debtors
6
1,394,306
1,397,701
Cash at bank and in hand
494
13,810
1,394,800
1,411,511
Creditors: amounts falling due within one year
7
(130,494)
(105,474)
Net current assets
1,264,306
1,306,037
Total assets less current liabilities
1,346,209
1,415,270
Creditors: amounts falling due after more than one year
8
(2,818,410)
(2,837,980)
Net liabilities
(1,472,201)
(1,422,710)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
(1,472,301)
(1,422,810)
Total equity
(1,472,201)
(1,422,710)
PEMICAN DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges her 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 18 June 2026
H E King
Director
Company registration number 11574230 (England and Wales)
PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Pemican Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor Cooper House, 316 Regents Park Road, London, United Kingdom, N3 2JX.

1.1
Basis of preparation

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. Monetary a mounts in these financial statements are rounded to the nearest £.

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

1.2
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:

Plant and equipment
20% reducing balance
Computer equipments
33% on cost
Motor vehicles
25% reducing balance

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.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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 current liabilities.

1.6
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.

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.

PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 and subsequently measured at amortised cost using the effective interest method.

1.7
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.

1.8
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.

1.9
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
3
Employees

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

2025
2024
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and equipment
Computer equipments
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2024 and 30 September 2025
144,065
24,518
13,443
182,026
Depreciation and impairment
At 1 October 2024
57,733
9,184
5,877
72,794
Depreciation charged in the year
17,266
8,173
1,891
27,330
At 30 September 2025
74,999
17,357
7,768
100,124
Carrying amount
At 30 September 2025
69,066
7,161
5,675
81,902
At 30 September 2024
86,332
15,334
7,566
109,232
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
1
1
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,392,999
1,390,381
Other debtors
1,307
7,320
1,394,306
1,397,701

Included within Other debtors above are related party balances amounting to £1,392,99 9 (202 4 : £1,390,381) as disclosed in full in note 10. Amounts owed by group undertakings are receivable after one year.

PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
840
4,311
Taxation and social security
764
-
0
Other creditors
128,890
101,163
130,494
105,474

Included within Other creditors above are amounts owing on hire purchase agreements totalling £7,022 (202 4 : £7,022) which are secured on the assets to which they relate.

Included within Other creditors above are related party balances amounting to £11 5,5 19 (202 4 : £84,806) as disclosed in full in note 10.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
2,818,410
2,837,980

Included within Other creditors above are amounts owing on hire purchase agreements totalling £1,7 56 (202 4 : £8,778) which are secured on the assets to which they relate.

Included within Other creditors above are related party balances amounting to £2,816,654 (202 4 : £2,829,202) as disclosed in full in note 10.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Related party transactions

As at the balance sheet date the following amounts were outstanding with the following related parties:

Kings Leisure Limited £2,8 16,654 (Cr) 20 2 4 - £2,829,202 (Cr)

Autoclassic Limited £40,114 (Cr) 2024 - £27,118 (Cr)

Pemican Investment s Limited £1,39 2,999 (Dr) 2024 - £1,390,381 (Dr)

Sandy Bay Developments Limited £54,306 (Cr) 20 2 4 - £54,569 (Cr)

Kings Executive Pension Fund £2 1,099 (Cr) 2024 - £3,119 (Cr)

The above companies are related by virtue of common directorships and shareholding.

The loans are unsecured, do not carry interest and are repayable on demand with the exception of Kings Leisure Limited and Pemican Investments Limited which are repayable in more than 12 months.

11
Parent company
PEMICAN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
11
Parent company
(Continued)
- 8 -

The ultimate controlling party is Ms H King by virtue of her directorship and family ties.

2025-09-30 2024-10-01 false false false 18 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity H E King 11574230 2024-10-01 2025-09-30 11574230 2025-09-30 11574230 2024-09-30 11574230 core:PlantMachinery 2025-09-30 11574230 core:ComputerEquipment 2025-09-30 11574230 core:MotorVehicles 2025-09-30 11574230 core:PlantMachinery 2024-09-30 11574230 core:ComputerEquipment 2024-09-30 11574230 core:MotorVehicles 2024-09-30 11574230 core:CurrentFinancialInstruments core:WithinOneYear 2025-09-30 11574230 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11574230 core:Non-currentFinancialInstruments core:AfterOneYear 2025-09-30 11574230 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 11574230 core:CurrentFinancialInstruments 2025-09-30 11574230 core:CurrentFinancialInstruments 2024-09-30 11574230 core:ShareCapital 2025-09-30 11574230 core:ShareCapital 2024-09-30 11574230 core:RetainedEarningsAccumulatedLosses 2025-09-30 11574230 core:RetainedEarningsAccumulatedLosses 2024-09-30 11574230 core:ShareCapitalOrdinaryShareClass1 2025-09-30 11574230 core:ShareCapitalOrdinaryShareClass1 2024-09-30 11574230 bus:Director1 2024-10-01 2025-09-30 11574230 core:PlantMachinery 2024-10-01 2025-09-30 11574230 core:ComputerEquipment 2024-10-01 2025-09-30 11574230 core:MotorVehicles 2024-10-01 2025-09-30 11574230 2023-10-01 2024-09-30 11574230 core:PlantMachinery 2024-09-30 11574230 core:ComputerEquipment 2024-09-30 11574230 core:MotorVehicles 2024-09-30 11574230 2024-09-30 11574230 core:Non-currentFinancialInstruments 2025-09-30 11574230 core:Non-currentFinancialInstruments 2024-09-30 11574230 bus:OrdinaryShareClass1 2024-10-01 2025-09-30 11574230 bus:OrdinaryShareClass1 2025-09-30 11574230 bus:OrdinaryShareClass1 2024-09-30 11574230 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 11574230 bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-09-30 11574230 bus:FRS102 2024-10-01 2025-09-30 11574230 bus:AuditExemptWithAccountantsReport 2024-10-01 2025-09-30 11574230 bus:FullAccounts 2024-10-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP