Gulf Pearl Limited Filleted Accounts Cover
Gulf Pearl Limited
Company No. 01638040
Information for Filing with The Registrar
For the year ended
31 October 2023
Gulf Pearl Limited Balance Sheet Registrar
at
31 October 2023
Company No.
01638040
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
29,13134,501
29,13134,501
Current assets
Debtors
5
-683
Cash at bank and in hand
3869
38752
Creditors: Amount falling due within one year
6
(105,616)
(126,041)
Net current liabilities
(105,578)
(125,289)
Total assets less current liabilities
(76,447)
(90,788)
Provisions for liabilities
Deferred taxation
(5,132)
(6,064)
Net liabilities
(81,579)
(96,852)
Capital and reserves
Called up share capital
100100
Profit and loss account
7
(81,679)
(96,952)
Total equity
(81,579)
(96,852)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 28 November 2024 and signed on its behalf by:
A.Y. Saidam
Director
28 November 2024
Gulf Pearl Limited Notes to the Accounts Registrar
for the year ended 31 October 2023
1
General information
Gulf Pearl Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 01638040
Its registered office is:
68 Westbourne Grove
London
W2 5SH
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
20% Reducing balance
Furniture, fittings and equipment
15% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
44
4
Tangible fixed assets
Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 November 2022
11,37718,895145,617175,889
Additions
--363363
At 31 October 2023
11,37718,895145,980176,252
Depreciation
At 1 November 2022
11,3768,837121,175141,388
Charge for the year
-2,0123,7215,733
At 31 October 2023
11,37610,849124,896147,121
Net book values
At 31 October 2023
18,04621,08429,131
At 31 October 2022
1
10,058
24,442
34,501
5
Debtors
2023
2022
£
£
Prepayments and accrued income
-683
-683
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
36,54137,231
Other loans
1384,792
Taxes and social security
12,245
7,715
Loans from directors
14,13215,450
Other creditors
722-
Accruals and deferred income
41,83860,853
105,616126,041
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
Gulf Pearl Limited0163804031 October 202301 November 2022false28 November 2024BTCSoftware AP Solution 2024 11.2.0111.2.01true016380402022-11-012023-10-31016380402023-10-31016380402022-10-3101638040core:WithinOneYear2023-10-3101638040core:WithinOneYear2022-10-3101638040core:ShareCapital2023-10-3101638040core:ShareCapital2022-10-3101638040core:RetainedEarningsAccumulatedLosses2023-10-3101638040core:RetainedEarningsAccumulatedLosses2022-10-3101638040countries:UnitedKingdom2022-11-012023-10-3101638040bus:RegisteredOffice2022-11-012023-10-3101638040core:MotorVehicles2022-11-012023-10-3101638040core:FurnitureFittingsToolsEquipment2022-11-012023-10-31016380402021-11-012022-10-3101638040core:LandBuildings2022-11-0101638040core:MotorVehicles2022-11-0101638040core:FurnitureFittingsToolsEquipment2022-11-01016380402022-11-0101638040core:LandBuildings2022-11-012023-10-3101638040core:LandBuildings2023-10-3101638040core:MotorVehicles2023-10-3101638040core:FurnitureFittingsToolsEquipment2023-10-3101638040core:RetainedEarningsAccumulatedLosses2022-11-012023-10-3101638040bus:SmallEntities2022-11-012023-10-3101638040bus:FullAccounts2022-11-012023-10-3101638040bus:AuditExempt-NoAccountantsReport2022-11-012023-10-3101638040bus:Director12022-11-012023-10-3101638040bus:PrivateLimitedCompanyLtd2022-11-012023-10-31iso4217:GBPxbrli:pure