REGISTERED NUMBER: 04197956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MICHAEL PEARCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M G Pearce

SECRETARY:

Mrs L Moores-Pearce

REGISTERED OFFICE:

20 Springfield Road

Aughton

Liverpool

Merseyside

L39 6ST

REGISTERED NUMBER:

04197956 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,101,990

1,102,032

CURRENT ASSETS

Stocks

5

17,000

35,500

Debtors

6

207

3,916

Cash at bank

3,083

3,016

20,290

42,432

CREDITORS

Amounts falling due within one year

7

1,355,536

1,347,699

NET CURRENT LIABILITIES

(1,335,246

)

(1,305,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(233,256

)

(203,235

)

CAPITAL AND RESERVES

Called up share capital

8

675,000

675,000

Retained earnings

9

(908,256

)

(878,235

)

SHAREHOLDERS' FUNDS

(233,256

)

(203,235

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 19 November 2025 and were signed by:

M G Pearce - Director

1.	STATUTORY INFORMATION

Michael Pearce 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost and 20% on cost

Computer equipment

-

33% on cost

Fixed assets are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 relies upon the continuing support of the major shareholder and of the director. Both parties have no plans to withdraw funding in the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

1,101,865

33,384

3,096

1,138,345

DEPRECIATION

At 1 April 2024

-

33,219

3,094

36,313

Charge for year

-

41

1

42

At 31 March 2025

-

33,260

3,095

36,355

NET BOOK VALUE

At 31 March 2025

1,101,865

124

1

1,101,990

At 31 March 2024

1,101,865

165

2

1,102,032

5.

STOCKS

31.3.25

31.3.24

£

£

Stocks

17,000

35,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

VAT

207

2,219

Prepayments

-

1,697

207

3,916

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

1,268,378

1,248,360

Directors' loan accounts

84,633

96,633

Accrued expenses

2,525

2,706

1,355,536

1,347,699

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

675,000

Ordinary

£1.00

675,000

675,000

9.

RESERVES

Retained

earnings

£

At 1 April 2024

(878,235

)

Deficit for the year

(30,021

)

At 31 March 2025

(908,256

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date there is an amount of £84,633 (2024: £96,633) owed to M Pearce, a director in the company.

The company's bank overdraft facility of £150,000 is secured by a limited guarantee given by Michael Pearce (Director) dated 3 August 2005.

11.	RELATED PARTY DISCLOSURES

During the current year, the company was under the effective control of the Executors of D Moores (deceased).

A loan of £1,223,494 (31.03.2024: £1,223,494) is held in other creditors due within one year which is payable to the Estate of Mr D Moores (deceased).This is repayable on demand and there is no interest payable.

At the year end a creditor of £44,882 (2024: £24,865) is due to Schemeglobal Properties (Southport) Ltd.