Company registration number 01829956 (England and Wales)
PEBBLEAIM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
PEBBLEAIM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PEBBLEAIM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
843,760
598,710
Current assets
Stocks
126,335
186,335
Debtors
4
3,722
238,276
Cash at bank and in hand
774,655
1,989,381
904,712
2,413,992
Creditors: amounts falling due within one year
5
(23,246)
(1,231,701)
Net current assets
881,466
1,182,291
Net assets
1,725,226
1,781,001
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,724,226
1,780,001
Total equity
1,725,226
1,781,001

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 28 December 2023 and are signed on its behalf by:
J R Morley
Director
Company registration number 01829956 (England and Wales)
PEBBLEAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Pebbleaim Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Lansdowne Road, London, W11 3AL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rent receivable.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.

PEBBLEAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

PEBBLEAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2023
2022
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
843,760
598,710
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022
598,710
Additions
245,050
At 31 March 2023
843,760
Carrying amount
At 31 March 2023
843,760
At 31 March 2022
598,710
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Kaleminster Limited
-
0
231,000
Other debtors
3,722
7,276
3,722
238,276
PEBBLEAIM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Oxford Tenancies Limited
-
0
862,000
Tawnyswift Limited
10,237
10,237
Corporation tax
-
0
334,058
Accruals and deferred income
13,009
25,406
23,246
1,231,701
2023-03-312022-04-01false28 December 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityJ R MorleyJ W LloydJ R Morleyfalse018299562022-04-012023-03-31018299562023-03-31018299562022-03-3101829956core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3101829956core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3101829956core:CurrentFinancialInstruments2023-03-3101829956core:CurrentFinancialInstruments2022-03-3101829956core:ShareCapital2023-03-3101829956core:ShareCapital2022-03-3101829956core:RetainedEarningsAccumulatedLosses2023-03-3101829956core:RetainedEarningsAccumulatedLosses2022-03-3101829956bus:Director12022-04-012023-03-31018299562021-04-012022-03-3101829956core:WithinOneYear2023-03-3101829956core:WithinOneYear2022-03-3101829956bus:PrivateLimitedCompanyLtd2022-04-012023-03-3101829956bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3101829956bus:FRS1022022-04-012023-03-3101829956bus:AuditExemptWithAccountantsReport2022-04-012023-03-3101829956bus:Director22022-04-012023-03-3101829956bus:CompanySecretary12022-04-012023-03-3101829956bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP