Company No: 16264648 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2026
		£
Fixed assets
Tangible assets	3	10,957
Investment property	4	746,631
		757,588
Current assets
Debtors	5	6,903
Cash at bank and in hand		12,183
		19,086
Creditors: amounts falling due within one year	6	( 823,683)
Net current liabilities		(804,597)
Total assets less current liabilities		(47,009)
Net liabilities		( 47,009)
Capital and reserves
Called-up share capital	7	10
Profit and loss account		( 47,019 )
Total shareholder's deficit		( 47,009)

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Pettit TQ Ltd (registered number: 16264648) were approved and authorised for issue by the Director on 30 September 2026. They were signed on its behalf by:

Mr S J Pettit Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Pettit TQ Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £47,009. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company was incorporated on 20 February 2025 and the decision was made to produce financial statements to 31 March 2026 to bring these in-line with other associated companies and as such the figures are presented for a 13 month period.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings	5 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

	Period from 20.02.2025 to 31.03.2026
	Number
Monthly average number of persons employed by the Company during the period, including the director	0

3. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 20 February 2025	0		0		0
Additions	11,073		1,216		12,289
At 31 March 2026	11,073		1,216		12,289
Accumulated depreciation
At 20 February 2025	0		0		0
Charge for the financial period	1,096		236		1,332
At 31 March 2026	1,096		236		1,332
Net book value
At 31 March 2026	9,977		980		10,957

4. Investment property

	Investment property
	£
Valuation
As at 20 February 2025	0
Additions	746,631
As at 31 March 2026	746,631

During the year the company purchased two properties and as such the cost amount shown in additions is deemed to be the market value as at 31 March 2026.

5. Debtors

	31.03.2026
	£
Other debtors	6,903

6. Creditors: amounts falling due within one year

	31.03.2026
	£
Other creditors	823,683

7. Called-up share capital

	31.03.2026
	£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.01 each	10

During the period, Share Capital of 1,000 Ordinary 1p shares were allotted on incorporation of the company.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	31.03.2026
	£
Loan from parent company	816,631

During the period, the company received a loan from its parent company. There is no formal loan agreement in place and therefore this loan is treated as payable on demand, bears no interest and is recognised within creditors due within one year.