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Registered number: 09424680 PEARLSTONE ENERGY LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PEARLSTONE ENERGY LIMITED
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
PEARLSTONE ENERGY LIMITED REGISTERED NUMBER:09424680
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
| 2024 | 2023
Note | £ | £
Current assets |  |  |
Debtors: amounts falling due within one year | 4 | 705 | 4,273
Cash at bank and in hand |  | 1,568 | 24,551
|  | 2,273 | 28,824
Current liabilities |  |  |
Creditors: amounts falling due within one year | 5 | (315,978) | (171,914)
Net current liabilities |  | (313,705) | (143,090)
Creditors: amounts falling due after more than one year | 6 | (27,790) | (29,697)
Net liabilities |  | (341,495) | (172,787)
Capital and reserves |  |  |
Called up share capital | 8 | 1,594 | 1,594
Share premium account |  | 1,498,813 | 1,498,813
Capital redemption reserve |  | 100 | 100
Profit and loss account |  | (1,842,002) | (1,673,294)
|  | (341,495) | (172,787)
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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.
Dr A Camyab
Director
Page 1
PEARLSTONE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Pearlstone Energy Limited is a limited liability company registered in England and Wales. Its registered office address is at 71-75 Shelton Street, London, WC2H 9JQ. The principal activity of the Company during the year was that of to provide a range of energy management services for customers in the UK. The financial statements are presented in £ sterling, which is the functional currency of the Company. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The Company made a loss for the year. The Directors have obtained assurance from the Shareholders that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.
| 2.3 | Turnover
Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax. Revenue is recognised when the service is provided.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 2
PEARLSTONE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Basic financial instruments
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
Page 3
PEARLSTONE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 705 | 4,273
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 5,955 | 10,000
| Trade creditors | 120,000 | 120,000
| Other creditors | 188,100 | 39,989
| Accruals and deferred income | 1,923 | 1,925
|  | 315,978 | 171,914
6. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 27,790 | 29,697
7. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 5,955 | 10,000
| Amounts falling due 1-5 years |  |
| Bank loans | 27,789 | 29,698
|  | 33,744 | 39,698
Page 4
PEARLSTONE ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 159,370 (2023 - 159,370) Ordinary shares of £0.01 each | 1,594 | 1,594
Page 5