Registered number
10549513
Pearson Lettings UK Limited
Unaudited Filleted Accounts
30 June 2024
Pearson Lettings UK Limited
Registered number: 10549513
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 520,895 520,168
Current assets
Cash at bank and in hand 2,692 6,031
Creditors: amounts falling due within one year 4 (63,962) (86,136)
Net current liabilities (61,270) (80,105)
Total assets less current liabilities 459,625 440,063
Creditors: amounts falling due after more than one year 5 (300,000) (300,000)
Provisions for liabilities (23,500) (23,500)
Net assets 136,125 116,563
Capital and reserves
Called up share capital 1 1
Revaluation reserve 6 76,500 76,500
Profit and loss account 59,624 40,062
Shareholder's funds 136,125 116,563
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.
Edward Pearson
Director
Approved by the board on 21 February 2025
Pearson Lettings UK Limited
Notes to the Accounts
for the year ended 30 June 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 Not depreciated
Fixtures, fittings, tools and 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 - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 518,223 13,426 531,649
Additions - 2,228 2,228
At 30 June 2024 518,223 15,654 533,877
Depreciation
At 1 July 2023 - 11,481 11,481
Charge for the year - 1,501 1,501
At 30 June 2024 - 12,982 12,982
Net book value
At 30 June 2024 518,223 2,672 520,895
At 30 June 2023 518,223 1,945 520,168
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,097 1,435
Taxation and social security costs 4,418 3,800
Other creditors 56,447 80,901
63,962 86,136
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 300,000 300,000
6 Revaluation reserve 2024 2023
£ £
At 1 July 2023 76,500 -
Gain on revaluation of land and buildings - 100,000
Deferred taxation arising on the revaluation of land and buildings - (23,500)
At 30 June 2024 76,500 76,500
7 Other information
Pearson Lettings UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 Holcroft Drive
Cuddington
Northwich
CW8 2BS
Pearson Lettings UK Limited 10549513 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Edward Pearson No description of principal activity 10549513 2022-07-01 2023-06-30 10549513 core:RevaluationReserve core:LandBuildings 2022-07-01 2023-06-30 10549513 core:RevaluationReserve 2022-07-01 2023-06-30 10549513 core:WithinOneYear 2023-06-30 10549513 core:AfterOneYear 2023-06-30 10549513 core:ShareCapital 2023-06-30 10549513 core:OtherReservesSubtotal 2023-06-30 10549513 core:RetainedEarningsAccumulatedLosses 2023-06-30 10549513 core:RevaluationReserve 2022-06-30 10549513 2023-07-01 2024-06-30 10549513 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10549513 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10549513 bus:Director40 2023-07-01 2024-06-30 10549513 1 2023-07-01 2024-06-30 10549513 2 2023-07-01 2024-06-30 10549513 core:LandBuildings 2023-07-01 2024-06-30 10549513 core:PlantMachinery 2023-07-01 2024-06-30 10549513 core:RevaluationReserve core:LandBuildings 2023-07-01 2024-06-30 10549513 core:RevaluationReserve 2023-07-01 2024-06-30 10549513 countries:England 2023-07-01 2024-06-30 10549513 bus:FRS102 2023-07-01 2024-06-30 10549513 bus:FilletedAccounts 2023-07-01 2024-06-30 10549513 2024-06-30 10549513 core:WithinOneYear 2024-06-30 10549513 core:AfterOneYear 2024-06-30 10549513 core:ShareCapital 2024-06-30 10549513 core:OtherReservesSubtotal 2024-06-30 10549513 core:RetainedEarningsAccumulatedLosses 2024-06-30 10549513 core:LandBuildings 2024-06-30 10549513 core:PlantMachinery 2024-06-30 10549513 core:RevaluationReserve 2024-06-30 10549513 2023-06-30 10549513 core:LandBuildings 2023-06-30 10549513 core:PlantMachinery 2023-06-30 10549513 core:RevaluationReserve 2023-06-30 iso4217:GBP xbrli:pure