12
04/04/2022
01/04/2023
2023-04-01
false
false
false
false
false
false
false
true
false
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true
false
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false
No description of principal activities is disclosed
2022-04-04
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
06691316
2022-04-04
2023-04-01
06691316
2023-04-01
06691316
2022-04-03
06691316
2021-04-04
2022-04-03
06691316
2022-04-03
06691316
2021-04-03
06691316
bus:RegisteredOffice
2022-04-04
2023-04-01
06691316
bus:LeadAgentIfApplicable
2022-04-04
2023-04-01
06691316
bus:Director1
2022-04-04
2023-04-01
06691316
bus:Director2
2022-04-04
2023-04-01
06691316
core:IntangibleAssetsOtherThanGoodwill
2022-04-03
06691316
core:IntangibleAssetsOtherThanGoodwill
2023-04-01
06691316
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-03
06691316
core:PlantMachinery
2022-04-03
06691316
core:FurnitureFittingsToolsEquipment
2022-04-03
06691316
core:MotorVehicles
2022-04-03
06691316
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-04-01
06691316
core:PlantMachinery
2023-04-01
06691316
core:FurnitureFittingsToolsEquipment
2023-04-01
06691316
core:MotorVehicles
2023-04-01
06691316
core:WithinOneYear
2023-04-01
06691316
core:WithinOneYear
2022-04-03
06691316
core:ShareCapital
2023-04-01
06691316
core:ShareCapital
2022-04-03
06691316
core:RevaluationReserve
2023-04-01
06691316
core:RevaluationReserve
2022-04-03
06691316
core:RetainedEarningsAccumulatedLosses
2023-04-01
06691316
core:RetainedEarningsAccumulatedLosses
2022-04-03
06691316
core:IntangibleAssetsOtherThanGoodwill
2022-04-04
2023-04-01
06691316
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-04
2023-04-01
06691316
core:PlantMachinery
2022-04-04
2023-04-01
06691316
core:FurnitureFittingsToolsEquipment
2022-04-04
2023-04-01
06691316
core:MotorVehicles
2022-04-04
2023-04-01
06691316
core:IntangibleAssetsOtherThanGoodwill
2022-04-03
06691316
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-03
06691316
core:PlantMachinery
2022-04-03
06691316
core:FurnitureFittingsToolsEquipment
2022-04-03
06691316
core:MotorVehicles
2022-04-03
06691316
bus:SmallEntities
2022-04-04
2023-04-01
06691316
bus:AuditExempt-NoAccountantsReport
2022-04-04
2023-04-01
06691316
bus:SmallCompaniesRegimeForAccounts
2022-04-04
2023-04-01
06691316
bus:PrivateLimitedCompanyLtd
2022-04-04
2023-04-01
06691316
bus:FullAccounts
2022-04-04
2023-04-01
06691316
core:EntitiesControlledByKeyManagementPersonnel
2022-04-04
2023-04-01
06691316
core:EntitiesControlledByKeyManagementPersonnel
2021-04-04
2022-04-03
06691316
core:KeyManagementPersonnel
2022-04-04
2023-04-01
06691316
core:ComputerEquipment
2022-04-03
06691316
core:ComputerEquipment
2022-04-04
2023-04-01
06691316
core:ComputerEquipment
2023-04-01
06691316
core:EntitiesControlledByKeyManagementPersonnel
2023-04-01
06691316
core:EntitiesControlledByKeyManagementPersonnel
2022-04-03
06691316
core:KeyManagementPersonnel
2023-04-01
06691316
core:KeyManagementPersonnel
2022-04-03
Company registration number:
06691316
Pearl Management Limited
Unaudited filleted financial statements
01 April 2023
Pearl Management Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Pearl Management Limited
Directors and other information
|
|
|
|
Directors |
Mr L McLachlan |
|
|
Miss L McLachlan |
|
|
|
|
|
|
|
Company number |
06691316 |
|
|
|
|
|
|
|
Registered office |
Old Hall Farm |
|
|
19 Barnston Lane |
|
|
Moreton |
|
|
Wirral |
|
|
CH46 7TN |
|
|
|
|
|
|
|
Accountants |
Hailwood & Co. |
|
|
392-394 Hoylake Road |
|
|
Moreton |
|
|
Wirral |
|
|
CH46 6DF |
|
|
|
Pearl Management Limited
Statement of financial position
1 April 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
6 |
4,755 |
|
|
|
19 |
|
|
Tangible assets |
|
7 |
672,376 |
|
|
|
659,878 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
677,131 |
|
|
|
659,897 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
8 |
923,628 |
|
|
|
758,114 |
|
|
Cash at bank and in hand |
|
|
9,898 |
|
|
|
1,717 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
933,526 |
|
|
|
759,831 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
1,706,551) |
|
|
|
(
1,290,413) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
773,025) |
|
|
|
(
530,582) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
95,894) |
|
|
|
129,315 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net (liabilities)/assets |
|
|
|
|
(
95,894) |
|
|
|
129,315 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
353 |
|
|
|
353 |
Revaluation reserve |
|
|
|
|
503,412 |
|
|
|
503,412 |
Profit and loss account |
|
|
|
|
(
599,659) |
|
|
|
(
374,450) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders (deficit)/funds |
|
|
|
|
(
95,894) |
|
|
|
129,315 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 01 April 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 year 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 August 2024
, and are signed on behalf of the board by:
Miss L McLachlan
Director
Company registration number:
06691316
Pearl Management Limited
Notes to the financial statements
Year ended 1 April 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 Old Hall Farm, 19 Barnston Lane, Moreton, Wirral, CH46 7TN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates.The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements relate to estimated useful lives and residual values of fixed assets as detailed in accounting policies. Estimated useful lives and residual values are reviewed annually and revised if necessary.
Turnover
Turnover is measured at the fair value of the consideration receivable and represents net invoiced from management services, stated net of discounts, rebates, and of Value Added Tax. Turnover is recognised as the service is provided.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.Current or deferred taxation assets and liabilities are not discounted.Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and any accumulated impairment losses.Computer software is amortised evenly over its useful life of 3 years.
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:
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, other than freehold property, are held at cost less depreciation and any provisions for impairment where applicable.Freehold property is held at revaluation less depreciation and any provisions for impairments where applicable. Revaluations are carried out with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the end of the reporting period.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Land and buildings - 2% on cost Property improvements - 2% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost Computers - 33% on cost
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
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.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
12
(2022:
11
).
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
275,190 |
249,661 |
|
Social security costs |
|
24,245 |
17,168 |
|
Other pension costs |
|
2,696 |
2,158 |
|
|
|
_______ |
_______ |
|
|
|
302,131 |
268,987 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Remuneration |
|
15,912 |
15,912 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 2 April 2022 |
20,252 |
20,252 |
|
|
|
|
|
Additions |
7,097 |
7,097 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 1 April 2023 |
27,349 |
27,349 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 2 April 2022 |
20,233 |
20,233 |
|
|
|
|
|
Charge for the year |
2,361 |
2,361 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 1 April 2023 |
22,594 |
22,594 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 1 April 2023 |
4,755 |
4,755 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 1 April 2022 |
19 |
19 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Tangible assets - user defined |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 2 April 2022 |
671,000 |
76,191 |
10,289 |
27,321 |
77,653 |
862,454 |
|
|
Additions |
- |
21,988 |
7,827 |
- |
12,038 |
41,853 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 1 April 2023 |
671,000 |
98,179 |
18,116 |
27,321 |
89,691 |
904,307 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 2 April 2022 |
83,771 |
12,855 |
7,966 |
20,491 |
77,493 |
202,576 |
|
|
Charge for the year |
13,420 |
1,974 |
3,149 |
6,830 |
3,982 |
29,355 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 1 April 2023 |
97,191 |
14,829 |
11,115 |
27,321 |
81,475 |
231,931 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 1 April 2023 |
573,809 |
83,350 |
7,001 |
- |
8,216 |
672,376 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 1 April 2022 |
587,229 |
63,336 |
2,323 |
6,830 |
160 |
659,878 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
923,628 |
758,114 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
31,004 |
14,598 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,578,358 |
1,142,861 |
|
Corporation tax |
|
54,600 |
30,671 |
|
Social security and other taxes |
|
3,734 |
68,330 |
|
Other creditors |
|
38,855 |
33,953 |
|
|
|
_______ |
_______ |
|
|
|
1,706,551 |
1,290,413 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Management fees charged to Apex Europe Limited |
260,000 |
500,000 |
- |
- |
|
Management fees charged to Emerald Sales Limited
|
170,000
|
150,000
|
- |
- |
|
Other creditors - Amounts owed to Apex Europe Limited
|
- |
- |
(
1,216,787) |
(
763,040) |
|
Other creditors - Amounts owed to Emerald Sales Limited
|
- |
- |
(361,571) |
(327,775) |
|
Other creditors - Amounts owed to Emerald Contor Limited
|
- |
- |
- |
(2,046) |
|
Other debtors - Amounts owed from Blue Garnet Management Services Limited
|
- |
- |
215,409 |
215,396 |
|
Other debtors - Due from director Mr L. Lachlan |
- |
- |
331,659 |
240,536 |
|
Other debtors - Due from director Miss L. Lachlan
|
- |
- |
133,240
|
71,935
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
Apex Europe Limited, Emerald Sales Limited, and Blue Garnet Management Services Limited are related parties by virtue of common directors and shareholders.Amounts owed to Apex Europe Limited, Emerald Sales Limited, and Blue Garnet Management Services Limited are due on demand, with no interest charged.Amounts due from directors are charged interest at a rate of 2%.
11.
Controlling party
The ultimate controlling party of the company is Mr L. McLachlan, who is a director.