ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

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.

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

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

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