ACCOUNTS - Final Accounts

BRITISH PEARL ESTATES LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3falsetrue2021-04-01false3Is that of acting as appointed representative of British Pearl Limited with the goal of acquiring customers for its online property investment platform 09701564 2021-04-01 2022-03-31 09701564 2020-04-01 2021-03-31 09701564 2022-03-31 09701564 2021-03-31 09701564 c:Director1 2021-04-01 2022-03-31 09701564 d:CurrentFinancialInstruments 2022-03-31 09701564 d:CurrentFinancialInstruments 2021-03-31 09701564 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09701564 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 09701564 d:ShareCapital 2022-03-31 09701564 d:ShareCapital 2021-03-31 09701564 d:RetainedEarningsAccumulatedLosses 2022-03-31 09701564 d:RetainedEarningsAccumulatedLosses 2021-03-31 09701564 c:FRS102 2021-04-01 2022-03-31 09701564 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 09701564 c:FullAccounts 2021-04-01 2022-03-31 09701564 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 09701564

BRITISH PEARL ESTATES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022


BRITISH PEARL ESTATES LIMITED REGISTERED NUMBER:09701564

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	3,500		3,500
Cash at bank and in hand	5	78,976		6,337
		82,476		9,837
Creditors: amounts falling due within one year	6	(402,288)		(400,895)
Net current liabilities			(319,812)		(391,058)
Total assets less current liabilities			(319,812)		(391,058)

Net liabilities			(319,812)		(391,058)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(319,813)	(391,059)
	(319,812)	(391,058)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A C Ali

Director

Date: 14 December 2022

The notes on pages 3 to 5 form part of these financial statements.

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BRITISH PEARL ESTATES LIMITED REGISTERED NUMBER:09701564

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

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BRITISH PEARL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

The Company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company remains reliant on the parent company continuing to providing support to enable the Company to meet its liabilities as they fall due. On this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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BRITISH PEARL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

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BRITISH PEARL ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Debtors

					2022	2021
					£	£


Other debtors	3,500	3,500

5.	Cash and cash equivalents
		2022	2021
		£	£

	Cash at bank and in hand	78,976	6,337

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Amounts owed to group undertakings	398,140	396,747
Other creditors	4,148	4,148
	402,288	400,895

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