Pearl Properties Limited 02876436 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is property rentals, consultancy fees and equipment rental. Digita Accounts Production Advanced 6.30.9574.0 true 02876436 2023-12-01 2024-11-30 02876436 2024-11-30 02876436 core:RetainedEarningsAccumulatedLosses 2024-11-30 02876436 core:RevaluationReserve 2024-11-30 02876436 core:ShareCapital 2024-11-30 02876436 core:SharePremium 2024-11-30 02876436 core:CurrentFinancialInstruments 2024-11-30 02876436 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 02876436 core:FurnitureFittings 2024-11-30 02876436 core:MotorVehicles 2024-11-30 02876436 core:PlantMachinery 2024-11-30 02876436 bus:SmallEntities 2023-12-01 2024-11-30 02876436 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 02876436 bus:AbridgedAccounts 2023-12-01 2024-11-30 02876436 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 02876436 bus:RegisteredOffice 2023-12-01 2024-11-30 02876436 bus:CompanySecretaryDirector1 2023-12-01 2024-11-30 02876436 bus:Director2 2023-12-01 2024-11-30 02876436 bus:Director3 2023-12-01 2024-11-30 02876436 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 02876436 core:FurnitureFittings 2023-12-01 2024-11-30 02876436 core:MotorVehicles 2023-12-01 2024-11-30 02876436 core:PlantMachinery 2023-12-01 2024-11-30 02876436 countries:AllCountries 2023-12-01 2024-11-30 02876436 2023-11-30 02876436 core:FurnitureFittings 2023-11-30 02876436 core:MotorVehicles 2023-11-30 02876436 core:PlantMachinery 2023-11-30 02876436 2022-12-01 2023-11-30 02876436 2023-11-30 02876436 core:RetainedEarningsAccumulatedLosses 2023-11-30 02876436 core:RevaluationReserve 2023-11-30 02876436 core:ShareCapital 2023-11-30 02876436 core:SharePremium 2023-11-30 02876436 core:CurrentFinancialInstruments 2023-11-30 02876436 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 02876436 core:FurnitureFittings 2023-11-30 02876436 core:MotorVehicles 2023-11-30 02876436 core:PlantMachinery 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 02876436

Pearl Properties Limited
Annual Report and Unaudited Abridged Financial Statements
for the Year Ended 30 November 2024

Pearl Properties Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Notes to the Unaudited Abridged Financial Statements | 4 to 7

Pearl Properties Limited

Company Information

Directors | G I Israel Adam J Israel J M Israel

Company secretary | G I Israel

Registered office | Suite 1B1 Argyle House Northside Joel Street Northwood Hills HA6 1NW

Pearl Properties Limited

(Registration number: 02876436)
Abridged Balance Sheet as at 30 November 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 3 | 58,263 | 76,831
Investment property |  | 7,391,487 | 10,499,487
Investments |  | 2 | 2
Other financial assets |  | 10,450 | 10,450
|  | 7,460,202 | 10,586,770
Current assets |  |  |
Debtors |  | 2,884,599 | 3,391,607
Cash at bank and in hand |  | 1,596,999 | 494,087
|  | 4,481,598 | 3,885,694
Creditors: Amounts falling due within one year |  | (5,766,627) | (7,564,736)
Net current liabilities |  | (1,285,029) | (3,679,042)
Total assets less current liabilities |  | 6,175,173 | 6,907,728
Provisions for liabilities |  | (122,998) | (280,760)
Net assets |  | 6,052,175 | 6,626,968
Capital and reserves |  |  |
Called up share capital |  | 686 | 686
Share premium reserve |  | 601,914 | 601,914
Revaluation reserve |  | 433,728 | 1,046,207
Retained earnings |  | 5,015,847 | 4,978,161
Shareholders' funds |  | 6,052,175 | 6,626,968

For the financial year ending 30 November 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Pearl Properties Limited

(Registration number: 02876436)
Abridged Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 17 November 2025 and signed on its behalf by:

......................................... G I Israel Company secretary and director |  |

Pearl Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1 | 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 abridged 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 abridged 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Pearl Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

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, fittings & Equipment | 25% reducing balance & 25% straight line
Motor vehicles | 25% reducing balance basis
Portable building | 25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

Pearl Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

3 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 December 2023 | 102,761 | 5,888 | 125,967 | 234,616
Additions | 1,233 | - | - | 1,233
At 30 November 2024 | 103,994 | 5,888 | 125,967 | 235,849
Depreciation
At 1 December 2023 | 100,006 | 2,240 | 55,539 | 157,785
Charge for the year | 1,281 | 912 | 17,608 | 19,801
At 30 November 2024 | 101,287 | 3,152 | 73,147 | 177,586
Carrying amount
At 30 November 2024 | 2,707 | 2,736 | 52,820 | 58,263
At 30 November 2023 | 2,755 | 3,648 | 70,428 | 76,831

Investment properties

| 2024 £
At 1 December | 10,499,487
Additions | 647,549
Disposals | (3,143,070)
Fair value adjustments | (612,479)
At 30 November | 7,391,487

The investment properties were valued by the directors and the valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts due would have been 2024 - £6,957,759 (2023 - £9,453,280)

Pearl Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordiinary shares of £1 each | 686 | 686 | 686 | 686