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Registered number: 03608688
Piercefield Asset Management Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 03608688
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 727,485 642,432
727,485 642,432
CURRENT ASSETS
Stocks 6 - 7,351
Debtors 7 24,368 24,391
Cash at bank and in hand 431,085 464,386
455,453 496,128
Creditors: Amounts Falling Due Within One Year 8 (57,778 ) (61,151 )
NET CURRENT ASSETS (LIABILITIES) 397,675 434,977
TOTAL ASSETS LESS CURRENT LIABILITIES 1,125,160 1,077,409
Creditors: Amounts Falling Due After More Than One Year 9 (171,749 ) (184,375 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (16,537 ) (4,865 )
NET ASSETS 936,874 888,169
CAPITAL AND RESERVES
Called up share capital 12 100 100
Income Statement 936,774 888,069
SHAREHOLDERS' FUNDS 936,874 888,169
Page 1
Page 2
For the year ending 30 September 2025 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
S J Willis
Director
10/11/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Piercefield Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03608688 . The registered office is 105-107 Bath Road, Cheltenham, Gloucestershire, GL53 7LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The accounts have been prepared under the historical cost convention.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Freehold 2% Straight line basis
Plant & Machinery 20% & 25% reducing balance
Motor Vehicles 15% reducing balance
2.5. 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.
2.6. Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 5)
5 5
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2024 287,500
As at 30 September 2025 287,500
Amortisation
As at 1 October 2024 287,500
As at 30 September 2025 287,500
Net Book Value
As at 30 September 2025 -
As at 1 October 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2024 705,267 82,338 - 787,605
Additions 46,882 10,933 47,608 105,423
Disposals - (2,409 ) - (2,409 )
As at 30 September 2025 752,149 90,862 47,608 890,619
Depreciation
As at 1 October 2024 82,620 62,553 - 145,173
Provided during the period 8,453 5,808 5,951 20,212
Disposals - (2,251 ) - (2,251 )
As at 30 September 2025 91,073 66,110 5,951 163,134
Net Book Value
As at 30 September 2025 661,076 24,752 41,657 727,485
As at 1 October 2024 622,647 19,785 - 642,432
6. Stocks
2025 2024
£ £
Work in progress - 7,351
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 2,000 64
Prepayments and accrued income 22,368 24,327
24,368 24,391
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,923 4,324
Bank loans and overdrafts 12,407 11,737
Other taxes and social security 22,478 28,405
Accruals and deferred income 18,970 16,685
57,778 61,151
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 171,749 184,375
Aggregate of amounts that fall due for payment after five years:
2025 2024
£ £
Bank loans 111,337 126,513
10. Secured Creditors
Of the creditors the following amounts are secured by way of a fixed and floating charge over all property and assets present and future.
2025 2024
£ £
Bank loans and overdrafts 184,157 196,112
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 16,537 4,865
12. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 1,562 18,742
Later than one year and not later than five years - 1,562
1,562 20,304
Page 5