Company No: 00721717 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	1,499,896		1,499,896
		1,499,896		1,499,896
Current assets
Debtors	4	23,243		18,732
Cash at bank and in hand		142		52
		23,385		18,784
Creditors: amounts falling due within one year	5	( 363,606)		( 434,180)
Net current liabilities		(340,221)		(415,396)
Total assets less current liabilities		1,159,675		1,084,500
Creditors: amounts falling due after more than one year	6	( 854,294)		( 820,996)
Provision for liabilities	7	( 235,000)		( 235,000)
Net assets		70,381		28,504
Capital and reserves
Called-up share capital	8	199		199
Profit and loss account		70,182		28,305
Total shareholder's funds		70,381		28,504

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Pearl Property Ventures Limited (registered number: 00721717) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N Wiesenberg Director

30 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pearl Property Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the reporting date, the Company had net assets of £70,381 and net current liabilities of £340,221. Included in current liabilities are amounts due to related parties. The related parties have confirmed that these amounts, although repayable on demand, will not be called upon in the twelve months from the date of approving these accounts and that they will provide such financial support as is necessary for the Company's operations.

At the time of approving the financial statements, the directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents rent receivable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

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

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
The average monthly number of persons (including directors) employed by the company during the year was:	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,499,896
As at 31 March 2025	1,499,896

Valuation

The investment properties were valued by the directors at 31 March 2025 on an open market basis by reference to market evidence of transaction prices of similar properties.

4. Debtors

	2025		2024
	£		£
Trade debtors	2,090		0
Amounts owed by group undertakings	10,000		10,000
Other debtors	11,153		8,732
	23,243		18,732

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,022		721
Amounts owed to parent undertakings	7,361		7,361
Amounts owed to related parties	340,460		387,460
Corporation tax	1,600		22,500
Other creditors	13,163		16,138
	363,606		434,180

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other loans	854,294		820,996

The capital loan notes, issued to shareholders, do not bear interest, are unsecured and are redeemable on or after 31 December 2024. At the reporting date, the noteholders had formally confirmed their intention not to redeem the notes within twelve months. As a result, the liabilities remain classified as non-current.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	235,000		235,000

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
199 Ordinary shares of £ 1.00 each	199		199

9. Related party transactions

At the reporting date £340,460 (2024 - £387,460) was due to Zolger Developments Limited, a company with common directors.

10. Ultimate controlling party

Pearl Properties Group Limited, registered in England & Wales, was regarded as the company's parent company at the Statement of Financial Position date.

The registered office address of Pearl Properties Group Limited is First Floor, 5 Fleet Place, London, EC4M 7RD.