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Registered number: 10404420









PEARS INTERNATIONAL LIMITED







UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
PEARS INTERNATIONAL LIMITED
 
 
COMPANY INFORMATION


Director
R A Pears 




Registered number
10404420



Registered office
12th Floor, Aldgate Tower
2 Leman Street, London

E1W 9US





 
PEARS INTERNATIONAL LIMITED
 

CONTENTS



Page
Director's Report
1
Income Statement
2
Statement of Financial Position
3
Notes to the Financial Statements
4 - 7

 
PEARS INTERNATIONAL 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.

Principal activity

The principal activity of the company was that of management of property investment companies.

Director

The director who served during the year was:

R A Pears 

Small companies note

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.
 



R A Pears
Director
Date: 30 January 2025

Page 1

 
PEARS INTERNATIONAL LIMITED
 
 
INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
 £
£

  

Turnover
  
33,000
33,000

Gross profit
  
33,000
33,000

Administrative expenses
  
(32,483)
(33,194)

Operating profit/(loss)
  
517
(194)

Interest payable and expenses
  
(877)
(2,181)

Loss before tax
  
(360)
(2,375)

Tax on loss
  
-
-

Loss for the financial year
  
(360)
(2,375)

There was no other comprehensive income for 2024 (2023):£NIL

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
PEARS INTERNATIONAL LIMITED
REGISTERED NUMBER: 10404420

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors
 4 
148,341
131,334

Cash at bank and in hand
 5 
3,111
3,132

  
151,452
134,466

Creditors: amounts falling due within one year
 6 
(120,948)
(103,601)

Net current assets
  
 
 
30,504
 
 
30,865

Total assets less current liabilities
  
30,504
30,865

  

Net assets
  
30,504
30,865


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss reserves
  
30,404
30,765

  
30,504
30,865


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: 


R A Pears
Director
Date: 30 January 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
PEARS INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Pears International Limited (the "Company") is a private company limited by shares incorporated in England and Wales. The registered office address is 12th Floor, Aldgate Tower, 2 Leman Street, London E1W 9US.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods in the normal course of business, and is shown net of VAT and other sales related taxes.

 
2.3

Debtors

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.

 
2.4

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other 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.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 4

 
PEARS INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 5

 
PEARS INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

2024
2023
£
£

Wages and salaries
23,484
26,250

23,484
26,250


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Other debtors
148,341
131,334

148,341
131,334



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,111
3,132

3,111
3,132


Page 6

 
PEARS INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
110,690
95,055

Accruals
10,258
8,546

120,948
103,601


Included in other creditors is a related party loan of £25,000 (2023: £25,000). The loan attracts interest at a commercial rate and is repayable on demand.

 
Page 7