Registered number
12090128
PEARL SEA GENERAL MAINTENANCE CONTRACTING UK LTD
Filleted Accounts
31 July 2024
PEARL SEA GENERAL MAINTENANCE CONTRACTING UK LTD
Registered number: 12090128
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 35,873 19,468
Cash at bank and in hand 9,346 13,054
45,219 32,522
Creditors: amounts falling due within one year 4 (16,791) (6,332)
Net current assets 28,428 26,190
Total assets less current liabilities 28,428 26,190
Creditors: amounts falling due after more than one year 5 (28,028) (33,504)
Net assets/(liabilities) 400 (7,314)
Capital and reserves
Called up share capital 100 100
Profit and loss account 300 (7,414)
Shareholders' funds 400 (7,314)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Navdeep Singh Lally
Director
Approved by the board on 21 November 2024
PEARL SEA GENERAL MAINTENANCE CONTRACTING UK LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors 15,306 8,502
Other debtors 20,567 10,966
35,873 19,468
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,537 472
Other creditors 13,254 5,860
16,791 6,332
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,500 27,976
Other creditors 5,528 5,528
28,028 33,504
6 Other information
PEARL SEA GENERAL MAINTENANCE CONTRACTING UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
Watling Court
Orbital Plaza Watling Street
Bridgtown
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