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Company No: 04508169 (England and Wales)

PEARL HOTELS (SWANSEA) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

PEARL HOTELS (SWANSEA) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PEARL HOTELS (SWANSEA) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
PEARL HOTELS (SWANSEA) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Debtors 3 3,446 0
Cash at bank and in hand 4 0 3,643
3,446 3,643
Creditors: amounts falling due within one year 5 ( 3,169,959) ( 3,169,959)
Net current liabilities (3,166,513) (3,166,316)
Total assets less current liabilities (3,166,513) (3,166,316)
Net liabilities ( 3,166,513) ( 3,166,316)
Capital and reserves
Called-up share capital 6 20 20
Profit and loss account ( 3,166,533 ) ( 3,166,336 )
Total shareholder's deficit ( 3,166,513) ( 3,166,316)

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

Directors' responsibilities:

The financial statements of Pearl Hotels (Swansea) Limited (registered number: 04508169) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N J Gourgey
Director

06 September 2024

PEARL HOTELS (SWANSEA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PEARL HOTELS (SWANSEA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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

General information and basis of accounting

Pearl Hotels (Swansea) Limited (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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Debtors

2023 2022
£ £
Other debtors 3,446 0

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 0 3,643

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to group undertakings 3,148,059 3,148,059
Other creditors 21,900 21,900
3,169,959 3,169,959

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each 10 10
10 Ordinary B shares of £ 1.00 each 10 10
20 20

7. Related party transactions

Included within other debtors is a balance of £3,445 (2022: £nil) due from Pedersen Holdings Limited a company which shares common directors. This balance is unsecured and interest free.

Included within other creditors is a balance of £21,900 (2022: £21,900) due to G & G Properties Ltd a company which shares common directors. This balance is unsecured and interest free.

8. Ultimate controlling party

The immediate parent undertaking is Pedersen (Swansea) Ltd.

The ultimate parent undertaking is Bankside Hotels Ltd.

There is no ultimate controlling party.