Registered number: 10406831
PEARS INTERNATIONAL PROPERTIES LIMITED
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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PEARS INTERNATIONAL PROPERTIES LIMITED
COMPANY INFORMATION
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12th Floor, Aldgate Tower
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PEARS INTERNATIONAL PROPERTIES LIMITED
CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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PEARS INTERNATIONAL PROPERTIES LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2024
The director presents his report and the financial statements for the year ended 30 April 2024.
The principal activity of the company was that of the purchase and sale of real estate.
The director who served during the year was:
In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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PEARS INTERNATIONAL PROPERTIES LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024
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Interest payable and expenses
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Profit/(loss) for the financial year
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There was no other comprehensive income for 2024 (2023:£NIL).
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The notes on pages 4 to 6 form part of these financial statements.
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PEARS INTERNATIONAL PROPERTIES LIMITED
REGISTERED NUMBER: 10406831
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 6 form part of these financial statements.
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PEARS INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Pears International Properties Limited (the "Company") is a private company limited by shares incorporated in England and Wales. The registered office address is 12th Floor, Algate Tower, 2 Leman street, London E1W 9US.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentational currency is GBP and rounded to the nearest £1.
The financial statements have been prepared on a going concern basis even though the Company has net liabilities of £51,520 (2023 - £90,550).The validity of the going concern concept is dependent on the continuing support from creditors. The director believes that the going concern concept is applicable as the Company will be able to meet its debts as and when they fall due, as the director is confident that the principal creditor will continue to provide support as required for a period of at least 12 months from the date of approval of the financial statements.
Turnover is recognised at the fair value of consideration received or receivable for goods in the normal course of business and is shown net of VAT and other sales related taxes.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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PEARS INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash at bank and in hand are basic financial assets and include cash in hand.
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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Current tax on profits for the year
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Factors affecting tax charge for the year
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The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 25%) as set out below:
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Profit/(loss) on ordinary activities before tax
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Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%/25%)
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Expenses not deductible for tax purposes
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Total tax charge for the year
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PEARS INTERNATIONAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Included in other creditors is a related party loan of £817,311 (2023: £1,108,445) which is secured by way of legal mortgage on the properties held as stock. The loan attracts interest at 7% p.a and is repayable on demand.
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