Pygott & Crone Estate Agents Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06224553 (England and Wales)

PYGOTT & CRONE ESTATE AGENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K J Scrupps

I J Pygott

P D Wood

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

06224553 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Intangible assets

4

22,500

112,500

Property, plant and equipment

5

68,179

93,758

90,679

206,258

CURRENT ASSETS

Inventories

1,038,906

925,980

Debtors

6

1,469,586

1,603,327

Cash at bank and in hand

2,595

119,815

2,511,087

2,649,122

CREDITORS

Amounts falling due within one year

7

1,857,824

1,633,058

NET CURRENT ASSETS

653,263

1,016,064

TOTAL ASSETS LESS CURRENT LIABILITIES

743,942

1,222,322

CREDITORS

Amounts falling due after more than one
year

8

(212,545

)

(254,828

)

PROVISIONS FOR LIABILITIES

(1,711

)

(3,359

)

NET ASSETS

529,686

964,135

CAPITAL AND RESERVES

Called up share capital

10

1,000

Retained earnings

528,686

963,135

SHAREHOLDERS' FUNDS

529,686

964,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 21 August 2026 and were signed on its behalf by:

K J Scrupps - Director

P D Wood - Director

1.	STATUTORY INFORMATION

Pygott & Crone Estate Agents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents fees and commissions received relating to the estate agency business, excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over the length of the lease

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Work in progress

Work in progress is calculated based on the fees receivable in respect of negotiated house sales less a deduction based on the cancellation rate for such sales in the following month.

Financial instruments

The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments of FRS 102.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. The principal area of estimation uncertainty relates to the valuation of work in progress, including assumptions regarding completion and cancellation rates.

Listed investments

Listed investments are revalued annually based on market value at the year end and the surplus or deficit is recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2025 - 61 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

900,000

AMORTISATION

At 1 April 2025

787,500

Charge for year

90,000

At 31 March 2026

877,500

NET BOOK VALUE

At 31 March 2026

22,500

At 31 March 2025

112,500

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2025

and 31 March 2026

636,151

DEPRECIATION

At 1 April 2025

542,393

Charge for year

25,579

At 31 March 2026

567,972

NET BOOK VALUE

At 31 March 2026

68,179

At 31 March 2025

93,758

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

187,515

84,733

Amounts owed by group undertakings

1,116,914

1,470,464

Amounts owed by associates

115,689

-

Other debtors

49,468

48,130

1,469,586

1,603,327

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

344,456

392,576

Trade creditors

118,961

138,840

Amounts owed to group undertakings

142,445

71,829

Taxation and social security

506,001

463,777

Other creditors

745,961

566,036

1,857,824

1,633,058

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Bank loans

212,545

254,828

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank overdrafts

280,050

279,420

Bank loans

276,951

367,984

557,001

647,404

The bank loan and overdraft are secured by a fixed and floating debenture over the company's assets and by personal guarantees of the directors.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

100,098

Non subscriber shares

1p

1,000

11.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2026

2025

£

Due in less than one year

279,841

253,492

Due between two and five years

256,020

246,775

Due after five years

-

535,861

500,266

12.	RELATED PARTY DISCLOSURES

During the year the company had transactions with related parties. At the balance sheet date, amounts owed from related parties amounted to £115,689 (2025: £15,000). The balance is unsecured, interest-free and repayable on demand.