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Registration number: 08303045

Pears Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Pears Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Pears Properties Limited

Company Information

Directors

Mrs Janice Irene Pears

Mr Neil David Pears

Registered office

Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Chartered AccountantsSilver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

Pears Properties Limited

(Registration number: 08303045)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

613,861

622,327

Current assets

 

Cash at bank and in hand

 

57,897

79,064

Creditors: Amounts falling due within one year

6

(84,030)

(89,107)

Net current liabilities

 

(26,133)

(10,043)

Total assets less current liabilities

 

587,728

612,284

Creditors: Amounts falling due after more than one year

6

(337,805)

(337,805)

Net assets

 

249,923

274,479

Capital and reserves

 

Called up share capital

7

502

502

Revaluation reserve

257,272

257,272

Retained earnings

(7,851)

16,705

Shareholders' funds

 

249,923

274,479

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mr Neil David Pears
Director

 

Pears Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS
England

These financial statements were authorised for issue by the Board on 14 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% net book value

Motor vehicles

20% net book value

 

Pears Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Pears Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

580,000

5,130

65,060

650,190

At 31 March 2024

580,000

5,130

65,060

650,190

Depreciation

At 1 April 2023

-

4,441

23,422

27,863

Charge for the year

-

138

8,328

8,466

At 31 March 2024

-

4,579

31,750

36,329

Carrying amount

At 31 March 2024

580,000

551

33,310

613,861

At 31 March 2023

580,000

689

41,638

622,327

Included within the net book value of land and buildings above is £580,000 (2023 - £580,000) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

 

-

-

 

Pears Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

81,885

87,922

Accruals and deferred income

 

1,920

960

Other creditors

 

225

225

 

84,030

89,107

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

337,805

337,805

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary J of £1 each

101

101

101

101

Ordinary N of £1 each

101

101

101

101

Ordinary S of £1 each

100

100

100

100

Ordinary T of £1 each

100

100

100

100

502

502

502

502

 

Pears Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(101,939)

(101,939)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

337,805

337,805

Current loans and borrowings

2024
£

2023
£

Other borrowings

81,885

87,922

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £10.00 (2023 - £40.00) per each Ordinary A

1,000

4,000

Interim dividend of £9.90 (2023 - £39.60) per each Ordinary J

1,000

4,000

Interim dividend of £9.90 (2023 - £39.60) per each Ordinary N

1,000

4,000

Interim dividend of £10.00 (2023 - £40.00) per each Ordinary S

1,000

4,000

Interim dividend of £10.00 (2023 - £40.00) per each Ordinary T

1,000

4,000

5,000

20,000