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REGISTERED NUMBER: 02077562 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Pebbleford Limited

Pebbleford Limited (Registered number: 02077562)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pebbleford Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Wachter
O O Muttawa
A O Muttawa





SECRETARY: O O Muttawa





REGISTERED OFFICE: Freedman House
Christopher Wren Yard
117 High Street
Croydon
Surrey
CR0 1QG





REGISTERED NUMBER: 02077562 (England and Wales)





AUDITORS: CWF & Partners Ltd
Chartered Accountants and
Statutory Auditor
Freedman House
Christopher Wren Yard
117 High Street
Croydon
Surrey
CR0 1QG

Pebbleford Limited (Registered number: 02077562)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 32,168,631 28,600,000
32,168,632 28,600,001

CURRENT ASSETS
Debtors 7 2,718,964 137,707
Cash at bank 1,014,119 110
3,733,083 137,817
CREDITORS
Amounts falling due within one year 8 153,157 1,374,765
NET CURRENT ASSETS/(LIABILITIES) 3,579,926 (1,236,948 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,748,558

27,363,053

CREDITORS
Amounts falling due after more than one year 9 (12,419,100 ) (2,912,700 )

PROVISIONS FOR LIABILITIES 11 (3,991,684 ) (3,991,684 )
NET ASSETS 19,337,774 20,458,669

CAPITAL AND RESERVES
Called up share capital 12 4,411,869 4,411,869
Revaluation reserve 13 19,480,832 19,480,832
Retained earnings 13 (4,554,927 ) (3,434,032 )
SHAREHOLDERS' FUNDS 19,337,774 20,458,669

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2025 and were signed on its behalf by:





O O Muttawa - Director


Pebbleford Limited (Registered number: 02077562)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pebbleford Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The estimates and underlying assumptions are reviewed on an going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Freehold property
Freehold property is valued at each balance sheet date at fair value. Fair value is ascertained through review of a number of factors and information flows, including knowledge, recent market movements, historical experience and rent levels. There is an inevitable degree of judgement involved and value can only be reliably tested ultimately in the market itself.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Pebbleford Limited (Registered number: 02077562)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost of buildings
Computer equipment - 25% on cost

No depreciation was provided on freehold property in the year as it is undergoing a complete refurbishment.


Revaluation of tangible assets

Freehold properties are carried at current year value. Current year value is the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluation will be undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the Profit and Loss Account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The company has losses in the year of £1,120,895 (2022 - £490,421) and at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with the support of the lenders and group companies. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Pebbleford Limited (Registered number: 02077562)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,236,726
AMORTISATION
At 1 January 2023
and 31 December 2023 1,236,725
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 January 2023 28,600,000 - 28,600,000
Additions 3,563,209 5,564 3,568,773
At 31 December 2023 32,163,209 5,564 32,168,773
DEPRECIATION
Charge for year - 142 142
At 31 December 2023 - 142 142
NET BOOK VALUE
At 31 December 2023 32,163,209 5,422 32,168,631
At 31 December 2022 28,600,000 - 28,600,000

The historical cost of the freehold property amounts to £8,690,693 (2022 - £5,127,484).

Freehold property comprises of land and building. The fair value of the land and building have been arrived on the basis of valuation carried out in June 2022 by Savills, who are not connected with the company plus refurbishment costs up to 31 December 2023.The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 2,339,789 -
Other debtors 379,175 137,707
2,718,964 137,707

Pebbleford Limited (Registered number: 02077562)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 56,879 139,589
Amounts owed to group undertakings - 978,561
Amounts owed to connected companies - 239,365
Taxation and social security 74,790 -
Other creditors 21,488 17,250
153,157 1,374,765

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 12,419,100 2,912,700

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 12,419,100 2,912,700

A secure loan was obtained last year as part of refinancing of the bank loan and to provide additional funding for the re-development of the hotel.

The term of the loan is 36 months from 14 September 2022 and the rate of interest applicable on the loan is 5.25% per annum. The interest rate is fixed for the term of the duration of the loan.

The loan is secured by a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,991,684 3,991,684

Deferred
tax
£   
Balance at 1 January 2023 3,991,684
Balance at 31 December 2023 3,991,684

Pebbleford Limited (Registered number: 02077562)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4,411,869 Ordinary Shares £1 4,411,869 4,411,869

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 (3,434,032 ) 19,480,832 16,046,800
Deficit for the year (1,120,895 ) - (1,120,895 )
At 31 December 2023 (4,554,927 ) 19,480,832 14,925,905

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Georgios Georgiou (Senior Statutory Auditor)
for and on behalf of CWF & Partners Ltd

15. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements 8,781,510 12,344,719

The capital commitment reflects the amount that company has committed to spend on the refurbishment of the freehold property.

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is an amount of £187,169 (2022 - £nil) due to the company by one of the directors. Interest of 2.25% per annum was charged on this loan and total interest received in the income statement was £1,681 (2022 - £nil).

17. RELATED PARTY DISCLOSURES

Included within debtors is an intercompany loan of £2,339,789 (2022 - £978,561 credit balance) due by the parent company, Doana Establishment. The loan is interest free and repayable on demand.

18. ULTIMATE PARENT COMPANY

The ultimate controlling party is the Doana Establishment based in Liechtenstein which holds 100% of the share capital in this company.