Company registration number 09390871 (England and Wales)
PEARCE PROPERTIES INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
PEARCE PROPERTIES INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PEARCE PROPERTIES INVESTMENTS LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
9,431,500
9,431,500
Current assets
Debtors
4
88,704
110,473
Cash at bank and in hand
62,744
68,906
151,448
179,379
Creditors: amounts falling due within one year
5
(2,417,060)
(3,682,864)
Net current liabilities
(2,265,612)
(3,503,485)
Total assets less current liabilities
7,165,888
5,928,015
Creditors: amounts falling due after more than one year
6
(3,604,461)
(2,454,338)
Provisions for liabilities
(833,783)
(833,783)
Net assets
2,727,644
2,639,894
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
7
2,727,444
2,639,694
Total equity
2,727,644
2,639,894
PEARCE PROPERTIES INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -

For the financial year ended 31 January 2024 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 January 2025 and are signed on its behalf by:
Mr N Pearce
Director
Company registration number 09390871 (England and Wales)
PEARCE PROPERTIES INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Pearce Properties Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 4 Tabernacle Street, London, EC2A 4LU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the rent receivable in respect of the investment properties held by the company.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

PEARCE PROPERTIES INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
9,431,500

Investment property comprises of land and buildings held to receive rental income and for capital appreciation. The Directors have arrived at their valuation at 31 January 2023 with reference to valuations obtained for lending purposes.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
15,000
Other debtors
88,704
95,473
88,704
110,473
PEARCE PROPERTIES INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
242,078
1,469,905
Trade creditors
253
6,253
Taxation and social security
28,231
23,220
Other creditors
2,146,498
2,183,486
2,417,060
3,682,864
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,604,461
2,454,338

The bank loans are secured with fixed and floating charge over the investment properties.

7
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
2,639,694
2,754,930
Profit/(loss) for the year
87,750
(115,236)
At the end of the year
2,727,444
2,639,694

Included within profit and loss reserves are non-distributable profits, as set out below:

2024
2023
£
£
Non-distributable profits included above
At the beginning of the year
2,501,349
2,715,578
Non distributable profits in the year
-
(214,229)
At the end of the year
2,501,349
2,501,349
Distributable profits
226,095
138,345
2024-01-312023-02-01false22 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr M PearceMr N Pearcefalsefalse093908712023-02-012024-01-31093908712024-01-31093908712023-01-3109390871core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3109390871core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3109390871core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3109390871core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3109390871core:CurrentFinancialInstruments2024-01-3109390871core:CurrentFinancialInstruments2023-01-3109390871core:ShareCapital2024-01-3109390871core:ShareCapital2023-01-3109390871core:RetainedEarningsAccumulatedLosses2024-01-3109390871core:RetainedEarningsAccumulatedLosses2023-01-3109390871core:RetainedEarningsAccumulatedLosses2023-01-3109390871core:RetainedEarningsAccumulatedLosses2022-01-3109390871bus:Director22023-02-012024-01-31093908712022-02-012023-01-31093908712023-01-3109390871core:WithinOneYear2024-01-3109390871core:WithinOneYear2023-01-3109390871core:Non-currentFinancialInstruments2024-01-3109390871core:Non-currentFinancialInstruments2023-01-3109390871bus:PrivateLimitedCompanyLtd2023-02-012024-01-3109390871bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3109390871bus:FRS1022023-02-012024-01-3109390871bus:AuditExemptWithAccountantsReport2023-02-012024-01-3109390871bus:Director12023-02-012024-01-3109390871bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP