Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 3,766,045 | 3,766,045 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 132,500 | 133,064 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (404,874) | (623,997) | ||
| Total assets less current liabilities | 3,361,171 | 3,142,048 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Pearl Property Holdings Ltd (registered number:
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N Wiesenberg
Director |
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.
Pearl Property Holdings Ltd (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 £.
At the reporting date, the Company had net assets of £302,621 and net current liabilities of £404,874. 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.
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.
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.
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.
| 2025 | 2024 | ||
| Number | Number | ||
| The average monthly number of persons (including directors) employed by the company during the year was: |
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| Investment property | |
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| Valuation | |
| As at 01 April 2024 |
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| As at 31 March 2025 |
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The investment properties were valued by the directors at 31 March 2025 who considered that their fair value at the reporting date was equivalent to their cost on acquisition plus subsequent construction costs.
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by parent undertakings |
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| Amounts owed by related parties |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to group undertakings |
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| Amounts owed to related parties |
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| Corporation tax |
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| Other creditors |
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| £ | £ | ||
| Amounts owed to parent undertakings |
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| Other loans |
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The amount owed to the parent company, does not bear interest, is unsecured and is redeemable on or after 19 December 2024. At the reporting date, the parent company had formally confirmed its intention not to recall the loan within twelve months. As a result, the liability remain classified as non-current.
| 2025 | 2024 | ||
| £ | £ | ||
| Deferred tax |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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At the reporting date, £362,757 (2024 - £565,757) was due to Zolger Developments Limited and £6,000 (2024 - £6,000) was due to Zolger Limited, companies with common directors.
The registered office address of Pearl Properties Group Limited is First Floor, 5 Fleet Place, London, EC4M 7RD.