I C Pearman Limited - Filleted accounts


I C PEARMAN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2025



































Company Registration Number: 01455428

I C PEARMAN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 10

I C PEARMAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2025


DIRECTORS

I C Pearman
R L Pearman
T H Pearman


SECRETARY

R L Pearman


REGISTERED OFFICE

Bridgefield
Worcester Road
Chipping Norton
Oxon
OX7 5YQ


COMPANY REGISTRATION NUMBER

01455428 England and Wales

I C PEARMAN LIMITED

BALANCE SHEET
AS AT 31 OCTOBER 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	5		68,297		49,742
Investments	6		430,000		430,000


			498,297		479,742

CURRENT ASSETS
Debtors	7	8,485		5,716
Cash at bank and in hand		7,650		20,433


		16,135		26,149

CREDITORS: Amounts falling due within one year	8	191,206		198,857
CREDITORS: Amounts falling due within one year


NET CURRENT LIABILITIES			(175,071)		(172,708)


TOTAL ASSETS LESS CURRENT LIABILITIES			323,226		307,034

CREDITORS: Amounts falling due after more than one year	9		26,844		36,452
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			41,719		42,421


NET ASSETS			254,663		228,161


CAPITAL AND RESERVES
Called up share capital			100		100
Distributable profit and loss account			164,609		138,107
Non distributable profit and loss account			89,954		89,954


SHAREHOLDERS' FUNDS			254,663		228,161

I C PEARMAN LIMITED

BALANCE SHEET
AS AT 31 OCTOBER 2025


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

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




T H Pearman
Director

Date approved by the board: 27 July 2026

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


1	GENERAL INFORMATION

	I C Pearman Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:

	Registered office	Principal place of business
	Bridgefield	Sandfields Farm
	Worcester Road	Over Norton
	Chipping Norton	Chipping Norton
	Oxon	Oxon
	OX7 5YQ	OX7 5PY

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of farming services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Leasehold property					Straight line basis at 20% per annum
	Fixtures and fittings, plant and machinery					Reducing balance at 15% and 25% per annum
	Motor vehicles					Reducing balance at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Investment properties

	Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

	Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.

	Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.

	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.


	Current and deferred tax assets and liabilities are not discounted.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	The directors have made key assumptions in determination of the fair value of the investment properties in respect of the state of the property market in the location where the properties are situated and in respect of the range of reasonable fair value estimates of the assets.

4	EMPLOYEES

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

		2025	2024
	Average number of employees	4	4

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


5	TANGIBLE ASSETS
		Leasehold property	Fixtures and fittings, plant and machinery		Motor vehicles	Total
		£		£	£	£
	Cost
	At 1 November 2024	2,860		52,285	130,974	186,119

	Additions	21,490		192	9,500	31,182

	Disposals	-		-	(10,750)	(10,750)


	At 31 October 2025	24,350		52,477	129,724	206,551


	Accumulated depreciation and impairments
	At 1 November 2024	2,860		49,019	84,498	136,377

	Charge for year	-		531	11,651	12,182

	Disposals	-		-	(10,305)	(10,305)


	At 31 October 2025	2,860		49,550	85,844	138,254


	Net book value
	At 1 November 2024	-		3,266	46,476	49,742


	At 31 October 2025	21,490		2,927	43,880	68,297


6	FIXED ASSET INVESTMENTS
						Investment properties
						£
	Cost
	At 1 November 2024					430,000


	At 31 October 2025					430,000


	Net book value
	At 1 November 2024					430,000


	At 31 October 2025					430,000


	In the opinion of the directors, all investment properties have been stated at fair value.

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


7	DEBTORS
		2025	2024
		£	£
	Trade debtors	407	3,276
	Prepayments and accrued income	392	213
	Other debtors	7,686	2,227


		8,485	5,716


8	CREDITORS: Amounts falling due within one year
		2025	2024
		£	£
	Bank loans and overdrafts	5,624	8,178
	Trade creditors	939	1,507
	Taxation and social security	8,766	11,438
	Hire purchase contracts and finance leases	9,006	16,505
	Accruals and deferred income	2,950	2,950
	Other creditors	163,921	158,279


		191,206	198,857


9	CREDITORS: Amounts falling due after more than one year
		2025	2024
		£	£
	Bank loans and overdrafts	22,221	22,823
	Hire purchase contracts and finance leases	4,623	13,629


		26,844	36,452


10	SECURED DEBTS

	The bank loans and overdrafts are secured on the assets of the company.

	The hire purchase contracts and finance leases are secured on the assets concerned.

I C PEARMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025


11	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	I C Pearman
	Director and shareholder		2025	2024
			£	£
	Advances to company	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	5,230	11,892


	T H Pearman
	Director and shareholder

	Advances to company	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	132,659	134,107



	D.H. Pearman & Sons (Over Norton) Limited
	Connected undertaking

	Amount owed to connected undertaking at year end:		12,000	-


	During the year under review, the company paid £10,000 (2024 - £10,000) to D.H. Pearman & Sons (Over Norton) Limited for repairs and renewals. D.H. Pearman & Sons (Over Norton) Limited is under the control of I C Pearman, a director and shareholder of that company.