Pearce Investments Limited 05426976 true 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of an investment holding company Digita Accounts Production Advanced 6.30.9574.0 true Mr N R Hogan Laggan Secretaries Ltd false true 05426976 2023-01-01 2023-12-31 05426976 2023-12-31 05426976 bus:OrdinaryShareClass1 2023-12-31 05426976 core:RetainedEarningsAccumulatedLosses 2023-12-31 05426976 core:ShareCapital 2023-12-31 05426976 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05426976 core:Non-currentFinancialInstruments 2023-12-31 05426976 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05426976 bus:FRS102 2023-01-01 2023-12-31 05426976 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05426976 bus:FullAccounts 2023-01-01 2023-12-31 05426976 bus:RegisteredOffice 2023-01-01 2023-12-31 05426976 bus:CompanySecretary1 2023-01-01 2023-12-31 05426976 bus:Director6 2023-01-01 2023-12-31 05426976 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05426976 bus:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 05426976 bus:Consolidated 2023-01-01 2023-12-31 05426976 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05426976 countries:EnglandWales 2023-01-01 2023-12-31 05426976 core:CostValuation 2022-12-31 05426976 2022-01-01 2022-12-31 05426976 2022-12-31 05426976 bus:OrdinaryShareClass1 2022-12-31 05426976 core:RetainedEarningsAccumulatedLosses 2022-12-31 05426976 core:ShareCapital 2022-12-31 05426976 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05426976 core:Non-currentFinancialInstruments 2022-12-31 05426976 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05426976

Pearce Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Pearce Investments Limited

Profit and Loss Account for the Year Ended 31 December 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Pearce Investments Limited

(Registration number: 05426976)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

3

679,009

679,009

Current assets

 

Cash at bank and in hand

 

4

4

Creditors: Amounts falling due within one year

5

(50,247)

(50,247)

Net current liabilities

 

(50,243)

(50,243)

Total assets less current liabilities

 

628,766

628,766

Creditors: Amounts falling due after more than one year

5

(659,746)

(659,746)

Net liabilities

 

(30,980)

(30,980)

Capital and reserves

 

Called up share capital

6

4

4

Retained earnings

(30,984)

(30,984)

Shareholders' deficit

 

(30,980)

(30,980)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 13 September 2024
 

.........................................
Mr N R Hogan
Director

   
     
 

Pearce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the net current asset deficiency on the basis that the company will be supported, financially, by the shareholders’/ parent company to enable the company to meet its financial obligations as and when they fall due.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Pearce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Investments

2023
£

2022
£

Investments in subsidiaries

679,009

679,009

Subsidiaries

£

Cost or valuation

At 1 January 2023

679,009

Provision

Carrying amount

At 31 December 2023

679,009

At 31 December 2022

679,009

4

Cash and cash equivalents

2023
£

2022
£

Cash on hand

4

4

 

Pearce Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,400

1,400

Other payables

 

47,947

47,947

Accruals

 

900

900

 

50,247

50,247

Due after one year

 

Loans and borrowings

7

659,746

659,746

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

659,746

659,746

8

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).