Pearl Estate Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06647148 (England and Wales)

Financial Statements

for the Year Ended 31 May 2025

for

Pearl Estate Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Evgene Groysman

SECRETARY:

Valery Kisilevsky

REGISTERED OFFICE:

30 Holborn

Buchanan House

London

England

EC1N 2HS

REGISTERED NUMBER:

06647148 (England and Wales)

SENIOR STATUTORY AUDITOR:

Jeffrey Bor FCA

AUDITORS:

SCB (Accountants) Limited

31 Sackville street

Manchester

M1 3LZ

Current assets

Debtors

6

1

839

Creditors

Amounts falling due within one year

7

(26,334

)

(23,834

)

Net current liabilities

(26,333

)

(22,995

)

Total assets less current liabilities

(26,333

)

(22,995

)

Capital and reserves

Called up share capital

8

1

Retained earnings

(26,334

)

(22,996

)

Shareholders' funds

(26,333

)

(22,995

)

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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2026 and were signed by:

Evgene Groysman - Director

1.	STATUTORY INFORMATION

Pearl Estate Management 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

1. Section 7 'Statement of Cash Flows': Presentation of a statement of cashflow and related notes and disclosures;

2. Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

3. Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

4. Section 33 'Related Party Disclosures': Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Academic Bridge B.V., a company incorporated in the Netherlands. The consolidated financial statements are available from its registered office, Passeerdersgracht 23, 1016XG, Amsterdam, The Netherland.

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The company is a parent company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

GOING CONCERN

At the year end, the company had net liabilities of £26,333. The financial statements have been prepared on a going concern basis which the directors believe to be appropriate as the Immediate Parent company Global University Systems Holding B.V, a group member company also wholly owned by The Heritage Trust has agreed to continue to provide financial support to Pearl Estate Management Limited, so that it can meet all its obligation as they fall due for at least a year from the date the financial statements are approved and ensure adequate resources to continue in operational existence for the foreseeable future. This is considered appropriate as the immediate parent company has a net wealth far in excess of the liabilities of the group as per the review of the financial statements and paying attention to the prospective cash position in a variety of scenarios.

Written confirmation has been obtained confirming their intention to continue to support the Pearl Estate Management Limited for a minimum of 12 months from the signing date of the financial statements.

For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

CASH AND CASH EQUIVALENTS

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

FIXED ASSET INVESTMENTS

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised..

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The director considers the only area of estimation uncertainty to pertain to the recoverable value of the investments in subsidiaries.

INVESTMENT IN SUBSIDIARIES

Investment in subsidiaries are valued at cost and and reviewed annually for impairment. Impairment is deemed necessary where the recoverable value of the investment is less than the carrying amount of the investment.

The recoverable amount is ascertained by calculating an enterprise value based on free cash flows incorporating forecast figures discounted at the weighted average cost of capital.

There is an inevitable degree of judgement involved and value will vary depending on the methodology adopted. Given the knowledge of management and the directors, no expert valuation has been considered necessary.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	AUDITORS' REMUNERATION

Period

1.8.23

Year ended

to

31.5.25

31.5.24

£

Fees payable to the company's auditors for the audit of the company's
financial statements

2,500

2,000

5.	FIXED ASSET INVESTMENTS

Name of
undertaking

Registered office

Nature of
business

Class of
shares
held

%
HeldDir
ect

%
HeldIndir
ect

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