Silverfin false false 31/12/2023 01/01/2023 31/12/2023 C D Gourgey 28/06/2018 N J Gourgey 01/07/2015 G C Payne 19/03/2007 06 September 2024 The principal activity of the company continued to be the holding of shares in Pearl Hotels (Swansea) Limited. Pearl Hotels (Swansea) Limited is an hotel owner and operator. 05968505 2023-12-31 05968505 bus:Director1 2023-12-31 05968505 bus:Director2 2023-12-31 05968505 bus:Director3 2023-12-31 05968505 2022-12-31 05968505 core:CurrentFinancialInstruments 2023-12-31 05968505 core:CurrentFinancialInstruments 2022-12-31 05968505 core:ShareCapital 2023-12-31 05968505 core:ShareCapital 2022-12-31 05968505 core:RetainedEarningsAccumulatedLosses 2023-12-31 05968505 core:RetainedEarningsAccumulatedLosses 2022-12-31 05968505 core:CostValuation 2022-12-31 05968505 core:CostValuation 2023-12-31 05968505 core:CurrentFinancialInstruments 1 2023-12-31 05968505 core:CurrentFinancialInstruments 1 2022-12-31 05968505 bus:OrdinaryShareClass1 2023-12-31 05968505 bus:OrdinaryShareClass2 2023-12-31 05968505 2023-01-01 2023-12-31 05968505 bus:FilletedAccounts 2023-01-01 2023-12-31 05968505 bus:SmallEntities 2023-01-01 2023-12-31 05968505 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05968505 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05968505 bus:Director1 2023-01-01 2023-12-31 05968505 bus:Director2 2023-01-01 2023-12-31 05968505 bus:Director3 2023-01-01 2023-12-31 05968505 2022-01-01 2022-12-31 05968505 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05968505 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05968505 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 05968505 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05968505 (England and Wales)

PEDERSEN (SWANSEA) LIMITED

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

PEDERSEN (SWANSEA) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PEDERSEN (SWANSEA) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
PEDERSEN (SWANSEA) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Debtors 4 4,213 52,611
Cash at bank and in hand 5 0 4,844
4,213 57,455
Creditors: amounts falling due within one year 6 ( 2,188,166) ( 2,188,166)
Net current liabilities (2,183,953) (2,130,711)
Total assets less current liabilities (2,183,952) (2,130,710)
Net liabilities ( 2,183,952) ( 2,130,710)
Capital and reserves
Called-up share capital 7 20 20
Profit and loss account ( 2,183,972 ) ( 2,130,730 )
Total shareholders' deficit ( 2,183,952) ( 2,130,710)

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 Pedersen (Swansea) Limited (registered number: 05968505) 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

PEDERSEN (SWANSEA) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PEDERSEN (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

Pedersen (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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Employees

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

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 1
At 31 December 2023 1
Carrying value at 31 December 2023 1
Carrying value at 31 December 2022 1

4. Debtors

2023 2022
£ £
Amounts owed by group undertakings 4,193 52,591
Other debtors 20 20
4,213 52,611

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 0 4,844

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to group undertakings 2,181,024 2,181,024
Amounts owed to connected companies 7,142 7,142
2,188,166 2,188,166

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
19 Ordinary A shares of £ 1.00 each 19 19
1 Ordinary B share of £ 1.00 1 1
20 20

8. Ultimate controlling party

The immediate parent undertaking is Riverbank Hotels Ltd.

The ultimate parent undertaking is Bankside Hotels Ltd.

There is no overall controlling party.