5 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 450,000 450,000 xbrli:pure xbrli:shares iso4217:GBP 06980451 2022-09-01 2023-08-30 06980451 2023-08-30 06980451 2022-08-31 06980451 2021-09-01 2022-08-31 06980451 2022-08-31 06980451 2021-08-31 06980451 core:NetGoodwill 2022-09-01 2023-08-30 06980451 core:LandBuildings core:LongLeaseholdAssets 2022-09-01 2023-08-30 06980451 core:FurnitureFittings 2022-09-01 2023-08-30 06980451 bus:Director1 2022-09-01 2023-08-30 06980451 bus:Director4 2022-09-01 2023-08-30 06980451 core:NetGoodwill 2023-08-30 06980451 core:LandBuildings 2022-08-31 06980451 core:FurnitureFittings 2022-08-31 06980451 core:LandBuildings 2023-08-30 06980451 core:FurnitureFittings 2023-08-30 06980451 core:WithinOneYear 2023-08-30 06980451 core:WithinOneYear 2022-08-31 06980451 core:AfterOneYear 2023-08-30 06980451 core:AfterOneYear 2022-08-31 06980451 core:ShareCapital 2023-08-30 06980451 core:ShareCapital 2022-08-31 06980451 core:RetainedEarningsAccumulatedLosses 2023-08-30 06980451 core:RetainedEarningsAccumulatedLosses 2022-08-31 06980451 core:LandBuildings 2022-09-01 2023-08-30 06980451 core:LandBuildings 2022-08-31 06980451 core:FurnitureFittings 2022-08-31 06980451 bus:SmallEntities 2022-09-01 2023-08-30 06980451 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-30 06980451 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-30 06980451 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-30 06980451 bus:FullAccounts 2022-09-01 2023-08-30 06980451 core:OfficeEquipment 2022-09-01 2023-08-30 06980451 core:OfficeEquipment 2023-08-30 06980451 core:OfficeEquipment 2022-08-31
COMPANY REGISTRATION NUMBER: 06980451
PEARLACRE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 August 2023
PEARLACRE LTD
STATEMENT OF FINANCIAL POSITION
30 August 2023
30 Aug 23
31 Aug 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
7,615
9,611
CURRENT ASSETS
Debtors
7
216,769
209,758
Cash at bank and in hand
111,581
129,792
---------
---------
328,350
339,550
CREDITORS: amounts falling due within one year
8
( 301,145)
( 306,148)
---------
---------
NET CURRENT ASSETS
27,205
33,402
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
34,820
43,013
CREDITORS: amounts falling due after more than one year
9
( 33,339)
( 38,498)
PROVISIONS
Taxation including deferred tax
( 485)
( 711)
--------
--------
NET ASSETS
996
3,804
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
896
3,704
----
-------
SHAREHOLDERS FUNDS
996
3,804
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PEARLACRE LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 August 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
A J Bedford Collins
R Bedford
Director
Director
Company registration number: 06980451
PEARLACRE LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 SEPTEMBER 2022 TO 30 AUGUST 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 3, West Chevin Business Centre, West Chevin Road, Otley, West Yorkshire, LS21 3HA.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Improvements
-
5% straight line
Fixtures & Fittings
-
15% reducing balance
Office Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 5 (2022: 5 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 September 2022 and 30 August 2023
450,000
---------
Amortisation
At 1 September 2022 and 30 August 2023
450,000
---------
Carrying amount
At 30 August 2023
---------
At 31 August 2022
---------
6. TANGIBLE ASSETS
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 September 2022 and 30 August 2023
10,668
7,640
12,678
30,986
--------
-------
--------
--------
Depreciation
At 1 September 2022
4,797
4,961
11,617
21,375
Charge for the period
533
402
1,061
1,996
--------
-------
--------
--------
At 30 August 2023
5,330
5,363
12,678
23,371
--------
-------
--------
--------
Carrying amount
At 30 August 2023
5,338
2,277
7,615
--------
-------
--------
--------
At 31 August 2022
5,871
2,679
1,061
9,611
--------
-------
--------
--------
7. DEBTORS
30 Aug 23
31 Aug 22
£
£
Trade debtors
79,318
69,602
Other debtors
137,451
140,156
---------
---------
216,769
209,758
---------
---------
8. CREDITORS: amounts falling due within one year
30 Aug 23
31 Aug 22
£
£
Bank loans and overdrafts
5,000
5,000
Trade creditors
16,508
18,403
Corporation tax
163,003
191,915
Social security and other taxes
105,024
82,730
Other creditors
11,610
8,100
---------
---------
301,145
306,148
---------
---------
9. CREDITORS: amounts falling due after more than one year
30 Aug 23
31 Aug 22
£
£
Bank loans and overdrafts
33,339
38,498
--------
--------