Pearlgrove Estates Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04562411 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

PEARLGROVE ESTATES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M N Dreyfuss

SECRETARY:

J Silver

REGISTERED OFFICE:

214 Stamford Hill

London

N16 6RA

REGISTERED NUMBER:

04562411 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

2

15,498

18,232

Investment property

3

1,215,233

2,883,769

1,230,731

2,902,001

CREDITORS

Amounts falling due within one year

841,115

802,981

NET CURRENT LIABILITIES

(841,115

)

(802,981

)

TOTAL ASSETS LESS CURRENT LIABILITIES

389,616

2,099,020

CREDITORS

Amounts falling due after more than one year

4

575,866

2,021,349

NET (LIABILITIES)/ASSETS

(186,250

)

77,671

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

(186,251

)

77,670

SHAREHOLDERS' FUNDS

(186,250

)

77,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 July 2015 and were signed by:

M N Dreyfuss - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net receivable excluding Value Added Tax.

Tangible fixed assets - depreciation

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

Fixtures and fittings

-

15% on reducing balance

In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or

amortisation is provided in respect of freehold investment properties nor on leasehold investment properties

having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act

2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy

results in the financial statements giving true and fair view.

Investment properties

Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with

Financial Reporting Standard for Smaller Entities, which requires such properties to be stated at current market

value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

55,469

DEPRECIATION

At 1 November 2013

37,237

Charge for year

2,734

At 31 October 2014

39,971

NET BOOK VALUE

At 31 October 2014

15,498

At 31 October 2013

18,232

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 November 2013

2,883,769

Disposals

(1,668,536

)

At 31 October 2014

1,215,233

NET BOOK VALUE

At 31 October 2014

1,215,233

At 31 October 2013

2,883,769

4.

CREDITORS

Creditors include an amount of £ 575,866 (31.10.13 - £ 2,021,349 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.10.14

31.10.13

£

£

Repayable by instalments

575,866

2,021,349

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

1

Ordinary

£1

1

1