REGISTERED NUMBER: 03953102 (England and Wales)

Pearns Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Pearn

H K Pearn

SECRETARY:

H K Pearn

REGISTERED OFFICE:

27 Llandennis Avenue

Cyncoed

Cardiff

CF23 6JE

REGISTERED NUMBER:

03953102 (England and Wales)

ACCOUNTANTS:

Xeinadin South Wales & West Limited

Accountants & Business Advisors

Suite 2d,

Building 1 Eastern Business Park

St Mellons

Cardiff

CF3 5EA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

97,839

80,938

Investment property

6

6,286,585

6,286,585

6,384,424

6,367,523

CURRENT ASSETS

Debtors

7

226,443

203,439

Cash at bank

60,602

46,230

287,045

249,669

CREDITORS

Amounts falling due within one year

8

125,070

111,699

NET CURRENT ASSETS

161,975

137,970

TOTAL ASSETS LESS CURRENT LIABILITIES

6,546,399

6,505,493

CREDITORS

Amounts falling due after more than one year

9

2,960,690

3,003,017

NET ASSETS

3,585,709

3,502,476

CAPITAL AND RESERVES

Called up share capital

3

3

Share premium

917,280

917,280

Revaluation reserve

11

1,156,405

1,156,405

Retained earnings

1,512,021

1,428,788

SHAREHOLDERS' FUNDS

3,585,709

3,502,476

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 directors acknowledge their 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 Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

M J Pearn - Director

1.	STATUTORY INFORMATION

Pearns Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, was amortised evenly over its estimated useful life of fifteen years.

Goodwill is now fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

7,500

AMORTISATION

At 1 April 2024

and 31 March 2025

7,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2024

17,237

24,821

3,994

Additions

-

-

-

Disposals

-

-

-

At 31 March 2025

17,237

24,821

3,994

DEPRECIATION

At 1 April 2024

-

-

3,452

Charge for year

-

-

179

Eliminated on disposal

-

-

-

At 31 March 2025

-

-

3,631

NET BOOK VALUE

At 31 March 2025

17,237

24,821

363

At 31 March 2024

17,237

24,821

542

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

49,476

65,758

8,551

169,837

Additions

-

35,748

-

35,748

Disposals

-

(32,000

)

-

(32,000

)

At 31 March 2025

49,476

69,506

8,551

173,585

DEPRECIATION

At 1 April 2024

49,076

30,315

6,056

88,899

Charge for year

100

7,819

624

8,722

Eliminated on disposal

-

(21,875

)

-

(21,875

)

At 31 March 2025

49,176

16,259

6,680

75,746

NET BOOK VALUE

At 31 March 2025

300

53,247

1,871

97,839

At 31 March 2024

400

35,443

2,495

80,938

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

6,394,937

DEPRECIATION

At 1 April 2024

and 31 March 2025

108,352

NET BOOK VALUE

At 31 March 2025

6,286,585

At 31 March 2024

6,286,585

The directors have valued the investment property at 31st March 2022 based on their knowledge of the local property market.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

8,464

3,160

Other debtors

217,979

200,279

226,443

203,439

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

43,754

45,210

Taxation and social security

64,190

36,192

Other creditors

17,126

30,297

125,070

111,699

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

2,960,690

3,003,017

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

3,004,444

3,048,227

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

1,156,405

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

M J Pearn

Balance outstanding at start of year

(19,758

)

49,837

Amounts advanced

135,158

74,679

Amounts repaid

(100,887

)

(144,274

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,513

(19,758

)