PICUS CAPITAL UK LTD.


Director	HAYHOE, Anthony Mark


Company Secretary	ELEMENTAL COMPANY SECRETARY LIMITED


Registered Address	1 Warwick Street
	London
	W1B 5LR


Registered Number	14093654 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		826		1,131
			826		1,131
Current assets
Debtors	4	130,488		42,734
Cash at bank and on hand		43,278		107,650
		173,766		150,384
Creditors amounts falling due within one year	5	(22,140)		(20,325)
Net current assets (liabilities)			151,626		130,059
Total assets less current liabilities			152,452		131,190
Net assets			152,452		131,190
Capital and reserves
Called up share capital			1,000		1,000
Other reserves			117,976		117,976
Profit and loss account			33,476		12,214
Shareholders' funds			152,452		131,190

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 10 September 2026, and are signed on its behalf by:

HAYHOE, Anthony Mark
Director
Registered Company No. 14093654

PICUS CAPITAL UK LTD.

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Office Equipment	3

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		3

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	1,511	1,511
Additions	876	876
Disposals	(1,511)	(1,511)
At 31 December 25	876	876
Depreciation and impairment
At 01 January 25	380	380
Charge for year	49	49
On disposals	(379)	(379)
At 31 December 25	50	50
Net book value
At 31 December 25	826	826
At 31 December 24	1,131	1,131

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	110,668	-
Other debtors	1,542	1,148
Prepayments and accrued income	18,278	41,586
Total	130,488	42,734

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	500	7,967
Amounts owed to related parties	100	100
Taxation and social security	17,921	5,147
Other creditors	3,619	4,264
Accrued liabilities and deferred income	-	2,847
Total	22,140	20,325


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Related party transactions
	Included in the creditors is the amount owed to the parent company Picus Global GmbH of £100 (2024-£100)

7.	Controlling party
	The immediate parent company is Picus Global GmbH, a company incorporated in Germany. The ultimate controlling party is considered to be Alexander Samwer.