Company registration number 10509817 (England and Wales)
EDEN (PEARL HOUSE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EDEN (PEARL HOUSE) LTD
COMPANY INFORMATION
Directors
Mr W J Killick
Mr G R I Llewellyn-Smith
Company number
10509817
Registered office
60 Charlotte Street
London
Greater London
W1T 2NU
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
EDEN (PEARL HOUSE) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EDEN (PEARL HOUSE) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,579
6,198
Current assets
Stocks
23,846,317
23,846,317
Debtors
4
278,066
163,255
Cash at bank and in hand
330,567
163,632
24,454,950
24,173,204
Creditors: amounts falling due within one year
5
(12,871,926)
(19,449,386)
Net current assets
11,583,024
4,723,818
Total assets less current liabilities
11,588,603
4,730,016
Creditors: amounts falling due after more than one year
6
(17,962,139)
(8,637,076)
Net liabilities
(6,373,536)
(3,907,060)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(6,373,537)
(3,907,061)
Total equity
(6,373,536)
(3,907,060)
EDEN (PEARL HOUSE) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 September 2025 and are signed on its behalf by:
Mr G R I Llewellyn-Smith
Director
Company registration number 10509817 (England and Wales)
EDEN (PEARL HOUSE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Eden (Pearl House) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 60 Charlotte Street, London, Greater London, W1T 2NU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company's day-to-day working capital is met through continued support from the Joint Venture owners. Therefore, it is considered appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

EDEN (PEARL HOUSE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Borrowing costs related to fixed assets

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

EDEN (PEARL HOUSE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2024 and 31 December 2024
8,503
Depreciation and impairment
At 1 January 2024
2,305
Depreciation charged in the year
619
At 31 December 2024
2,924
Carrying amount
At 31 December 2024
5,579
At 31 December 2023
6,198
EDEN (PEARL HOUSE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
93,581
64,672
Other debtors
184,485
98,583
278,066
163,255
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
118,944
Trade creditors
537,545
343,222
Amounts owed to group undertakings
131,914
97,591
Other creditors
12,202,467
18,889,629
12,871,926
19,449,386
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,000,000
4,000,000
Other creditors
4,962,139
4,637,076
17,962,139
8,637,076
7
Secured debts

On 31 January 2017, Bank Frick & Co. Ag secured a fixed and floating charge debenture and legal charge over all the property or undertaking of the company.

On 31 January 2023, West One Loan Limited created a charge over the freehold property known as Regal Cinema, Bartholomew Street, Newbury. The charge contains a negative pledge. The fixed and floating charge covers all the property or undertaking of the company. This charge was satisfied on 2 October 2024.

8
Parent company

Edencap LLP is the parent company, with a registered address of 60 Charlotte Street, London, England, W1T 2NU.

The ultimate controlling party of the group is considered to be the members of the LLP in aggregate.

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