G D Pickles Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

G D Pickles Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09387115 . The registered office is Biltons Farm South Scarle Lane, Swinderby, Lincoln, LN6 9JA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	20% straight line
Fixtures & Fittings	10% straight line
Computer Equipment	20% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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G D Pickles Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Financial Instruments

The company only has financial assets and financial liaiblities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company makes contributions to directors personal pension schemes. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2025	10,420	65,694	1,237	7,445	84,796
Disposals	(2,166 )	-	-	(431 )	(2,597 )

As at 31 January 2026	8,254	65,694	1,237	7,014	82,199

Depreciation
As at 1 February 2025	8,406	39,960	989	4,925	54,280
Provided during the period	341	13,138	124	487	14,090
Disposals	(1,853 )	-	-	(346 )	(2,199 )

As at 31 January 2026	6,894	53,098	1,113	5,066	66,171

...CONTINUED

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G D Pickles Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

Net Book Value
As at 31 January 2026	1,360	12,596	124	1,948	16,028

As at 1 February 2025	2,014	25,734	248	2,520	30,516

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Motor Vehicles	12,596	25,735

5. Stocks

	2026	2025
	£	£
Work in progress	21,500	19,985

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	11,479	8,563
Prepayments and accrued income	5,674	5,475
Directors' loan accounts	-	11,715

	17,153	25,753

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	30,285	7,716
Trade creditors	973	3,859
Bank loans and overdrafts	3,532	11,306
Corporation tax	23,668	28,839
Other taxes and social security	51	50
VAT	8,003	9,511
Accruals and deferred income	914	904
Directors' loan accounts	348	-

	67,774	62,185

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	-	30,671
Bank loans	-	2,652

	-	33,323

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G D Pickles Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

9. Secured Creditors

Of the creditors the following amounts are secured.

	2026		2025
	£		£
Net obligations under finance lease and hire purchase contracts	30,285		38,387

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		16,028		30,516

			16,028		30,516
CURRENT ASSETS
Stocks	5	21,500		19,985
Debtors	6	17,153		25,753
Cash at bank and in hand		14,581		20,496

		53,234		66,234
Creditors: Amounts Falling Due Within One Year	7	(67,774 )		(62,185 )

NET CURRENT ASSETS (LIABILITIES)			(14,540 )		4,049

TOTAL ASSETS LESS CURRENT LIABILITIES			1,488		34,565

Creditors: Amounts Falling Due After More Than One Year	8		-		(33,323 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(858 )		(1,134 )

NET ASSETS			630		108

CAPITAL AND RESERVES
Called up share capital	10		100		100
Income Statement			530		8

SHAREHOLDERS' FUNDS			630		108