Registered number
07649521
PEARL PROPERTY MANAGEMENT LIMITED
Unaudited Filleted Accounts
31 May 2024
PEARL PROPERTY MANAGEMENT LIMITED
Registered number: 07649521
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 338,217 314,647
Current assets
Debtors 4 66 66
Cash at bank and in hand 80,527 87,250
80,593 87,316
Creditors: amounts falling due within one year 5 (171,667) (171,240)
Net current liabilities (91,074) (83,924)
Total assets less current liabilities 247,143 230,723
Creditors: amounts falling due after more than one year 6 (194,653) (184,742)
Net assets 52,490 45,981
Capital and reserves
Called up share capital 2 2
Profit and loss account 52,488 45,979
Shareholder's funds 52,490 45,981
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Ehsan
Director
Approved by the board on 17 February 2025
PEARL PROPERTY MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 May 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings
Plant and machinery over 10 years
Computer equipment over 3 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 314,318 21,996 632 336,946
Additions 23,520 - 436 23,956
At 31 May 2024 337,838 21,996 1,068 360,902
Depreciation
At 1 June 2023 - 21,848 451 22,299
Charge for the year - 150 236 386
At 31 May 2024 - 21,998 687 22,685
Net book value
At 31 May 2024 337,838 (2) 381 338,217
At 31 May 2023 314,318 148 181 314,647
4 Debtors 2024 2023
£ £
Other debtors 66 66
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,890 5,469
Other creditors 169,777 165,771
171,667 171,240
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,384 7,858
Other creditors 189,269 176,884
194,653 184,742
7 Other information
PEARL PROPERTY MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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