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REGISTERED NUMBER: 10509817 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EDEN (PEARL HOUSE) LTD

EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EDEN (PEARL HOUSE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: I S G Dhillon
G R I Llewellyn-Smith
W J Killick





REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH





REGISTERED NUMBER: 10509817 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,199 6,887

CURRENT ASSETS
Stocks 23,846,317 23,846,317
Debtors 5 163,255 3,679,372
Cash at bank 163,632 73,248
24,173,204 27,598,937
CREDITORS
Amounts falling due within one year 6 19,449,387 8,364,650
NET CURRENT ASSETS 4,723,817 19,234,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,730,016

19,241,174

CREDITORS
Amounts falling due after more than one
year

7

(8,637,076

)

(19,991,873

)

PROVISIONS FOR LIABILITIES - (5,000 )
NET LIABILITIES (3,907,060 ) (755,699 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (3,907,061 ) (755,700 )
SHAREHOLDERS' FUNDS (3,907,060 ) (755,699 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





I S G Dhillon - Director


EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Eden (Pearl House) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Except borrowing costs and interest in respect of qualifying assets under construction.

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset and applied consistently to a class of qualifying assets.

Taxation
Taxation for the year comprises current and deferred tax. 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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The company's day-to-day working capital is met through continued support from the Joint Venture owners. Therefore it is considered appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 8,503
DEPRECIATION
At 1 January 2023 1,616
Charge for year 688
At 31 December 2023 2,304
NET BOOK VALUE
At 31 December 2023 6,199
At 31 December 2022 6,887

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 930
Amounts owed by group undertakings 64,672 6,526
Other debtors 98,583 3,671,916
163,255 3,679,372

EDEN (PEARL HOUSE) LTD (REGISTERED NUMBER: 10509817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 118,944 86,071
Trade creditors 343,222 750,522
Amounts owed to group undertakings 186,671 486,668
Other creditors 18,800,550 7,041,389
19,449,387 8,364,650

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,000,000 15,679,797
Other creditors 4,637,076 4,312,076
8,637,076 19,991,873

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 4,312,076

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,000,000 15,679,797
Other loans 17,344,744 4,312,076
21,344,744 19,991,873

On 31 January 2017 Bank Frick & Co. Ag secured a fixed and floating charge debenture and legal charge over all the property or undertaking of the company.

On 31 January 2023 West One Loan Limited created a charge over the Freehold property known as regal cinema, Bartholomew street, Newbury. The charge contains a negative pledge, the fixed and floating charge charge covers all the property or undertaking of the company.

9. ULTIMATE CONTROLLING PARTY

Edencap LLP is the parent company.
Registered office 12 Conqueror Court, Sittingbourne, Kent, ME10 5BH.

The ultimate controlling party of the group is considered to be the members of the LLP in aggregate.