Net Pearl Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09972154 (England and Wales)

Net Pearl Limited

Unaudited Financial Statements for the Year Ended 31st January 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M C S Hall

S P Marchant

N McKechnie

REGISTERED OFFICE:

101 West Dock Street

Hull

East Yorkshire

HU3 4HH

REGISTERED NUMBER:

09972154 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Investment property

4

1,137,696

1,137,696

CURRENT ASSETS

Debtors

5

9,260

10,939

Cash at bank

10,210

6,721

19,470

17,660

CREDITORS

Amounts falling due within one year

6

111,074

108,116

NET CURRENT LIABILITIES

(91,604

)

(90,456

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,046,092

1,047,240

CREDITORS

Amounts falling due after more than one year

7

316,900

388,900

NET ASSETS

729,192

658,340

CAPITAL AND RESERVES

Called up share capital

3

3

Share premium

319,398

319,398

Retained earnings

409,791

338,939

SHAREHOLDERS' FUNDS

729,192

658,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th April 2024 and were signed on its behalf by:

M C S Hall - Director

1.	STATUTORY INFORMATION

Net Pearl 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.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st February 2023

and 31st January 2024

1,137,696

NET BOOK VALUE

At 31st January 2024

1,137,696

At 31st January 2023

1,137,696

The directors consider the investments property's value to be equivalent to its carrying value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

9,260

10,939

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

24,660

21,783

Other creditors

86,414

86,333

111,074

108,116

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

316,900

388,900