Pearlgold Limited,Ltd - Accounts

Pearlgold Limited,Ltd - Accounts

PEARLGOLD LIMITED - Company Information

Print Friendly Version

2016-02-01 03011829 2017-01-31 03011829 2016-02-01 2017-01-31 03011829 uk-bus:RegisteredOffice 2016-02-01 2017-01-31 03011829 uk-bus:Director1 2016-02-01 2017-01-31 03011829 uk-bus:Director1 2017-01-31 03011829 uk-bus:Director2 2016-02-01 2017-01-31 03011829 uk-bus:Director2 2017-01-31 03011829 uk-bus:Director3 2016-02-01 2017-01-31 03011829 uk-bus:Director3 2017-01-31 03011829 2016-01-31 03011829 2015-02-01 2016-01-31 03011829 uk-core:WithinOneYear 2016-01-31 03011829 uk-core:WithinOneYear 2017-01-31 03011829 uk-core:ShareCapital 2017-01-31 03011829 uk-core:ShareCapital 2016-01-31 03011829 uk-core:RevaluationReserve 2017-01-31 03011829 uk-core:RevaluationReserve 2016-01-31 03011829 uk-core:RetainedEarningsAccumulatedLosses 2017-01-31 03011829 uk-core:RetainedEarningsAccumulatedLosses 2016-01-31 03011829 uk-core:CostValuation 2016-01-31 03011829 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2016-01-31 03011829 uk-core:RevaluationsIncreaseDecreaseInInvestments 2017-01-31 03011829 uk-core:RevaluationsIncreaseDecreaseInInvestments uk-core:Non-currentFinancialInstruments 2017-01-31 03011829 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2017-01-31 03011829 uk-core:CostValuation 2017-01-31 03011829 uk-core:Non-currentFinancialInstruments 2017-01-31 03011829 uk-core:Non-currentFinancialInstruments 2016-01-31 iso4217:GBP 03011829 uk-bus:AuditExemptWithAccountantsReport 2016-02-01 2017-01-31 03011829 uk-bus:FRS102 2016-02-01 2017-01-31 03011829 uk-bus:FullAccounts 2016-02-01 2017-01-31 03011829 uk-bus:PrivateLimitedCompanyLtd 2016-02-01 2017-01-31
Pearlgold Limited
Registered Number:03011829
For the year ended 31 January 2017
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 January 2017
Pearlgold Limited
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Other Comprehensive Income
6
Statement of Financial Position
7 to 8
Notes to the Financial Statements
9
Trading and Profit and Loss Account
3
For the year ended 31 January 2017
Pearlgold Limited
Company Information
Gurdip Singh Toot (appointed on 1 March 2017)
Director
Surjit Singh (appointed on 1 March 2017)
Gurprit Singh Toot
Surjit Singh
Company Secretary
03011829
Registered Number
Unit 6, Blackwater Close
Registered Office
Fairview Industrial Park
Marsh Way
Rainham, Essex
RM13 8UA
Chowdhury & Co
Accountants
Incorporated Financial Accountants
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
HSBC Bank Plc
Bankers
1 of 8
4
For the year ended 31 January 2017
Pearlgold Limited
Directors' Report
The directors present their report and accounts for the year ended 31 January 2017.
Principal activities
The principal activity of the company continued to be that of investment in properties and letting them out.
Directors
The directors who served the company throughout the year were as follows:
Gurdip Singh Toot
Surjit Singh
Gurprit Singh Toot
Gurdip Singh Toot
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
18 April 2017
2 of 8
5
For the year ended 31 January 2017
Pearlgold Limited
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 January 2017 and you consider that the company is exempt from an audit under the Companies
Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
Chowdhury & Co
Incorporated Financial Accountants
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
Date:
18 April 2017
3 of 8
6
For the year ended 31 January 2017
Pearlgold Limited
Income Statement
2016
£
2017
£
Turnover
184,717
169,772
169,772
Gross profit
184,717
Administrative expenses
(14,764)
(7,396)
Other operating income
6
-
Operating profit
169,959
162,376
169,959
162,376
Profit before taxation
(33,992)
(32,494)
Taxation
135,967
Profit for the financial year
129,882
4 of 8
7
For the year ended 31 January 2017
Pearlgold Limited
Other Comprehensive Income
2017
2016
£
£
135,967
129,882
Profit for the financial year
Total comprehensive income since last annual report
135,967
129,882
5 of 8
8
As at 31 January 2017
Pearlgold Limited
Statement of Financial Position
Registered Number :
03011829
£
£
2016
2017
Notes
Fixed assets
Financial assets
2,500,000
4,000,000
2
4,000,000
2,500,000
Current assets
Trade and other receivables
1,930
4,726
3
13,508
Cash and cash equivalents
29,186
33,912
15,438
Trade and other payables: amounts falling due within one
year
(182,927)
(209,434)
4
(167,489)
(175,522)
Net current liabilities
Total assets less current liabilities
3,824,478
2,332,511
3,824,478
Net assets
2,332,511
Capital and reserves
Called up share capital
8
8
Revaluation reserve
2,790,619
1,290,619
5
Retained earnings
1,033,851
1,041,884
3,824,478
2,332,511
Shareholders' funds
For the year ended 31 January 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Surjit Singh
Gurprit Singh Toot
These financial statements were approved and authorised for issue by the Board on 18 April 2017 and were signed by:
The notes form part of these financial statements
6 of 8
9
For the year ended 31 January 2017
Pearlgold Limited
Notes to the Financial Statements
Statutory Information
Pearlgold Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
03011829.
Registered address:
Unit 6, Blackwater Close
Fairview Industrial Park
Marsh Way
Rainham, Essex
RM13 8UA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents rents receivable.
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2. Investments held as fixed assets
Other investments
Total
At 01 February 2016
1,209,381
1,209,381
Cost
£
£
2,790,619
2,790,619
Revaluations
At 31 January 2017
4,000,000
4,000,000
At 31 January 2017
Net book value
4,000,000
4,000,000
At 01 February 2016
1,209,381
1,209,381
7 of 8
10
For the year ended 31 January 2017
Pearlgold Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2016
2017
£
£
Trade debtors
4,726
1,809
Other debtors
-
121
1,930
4,726
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
33,800
8,800
Taxation and social security
33,992
32,500
Other creditors
141,642
141,627
209,434
182,927
5. Reserves
Total
£
Revaluation reserve at 01 February 2016
1,290,619
Revaluation of fixed assets
1,500,000
2,790,619
Revaluation reserve at 31 January 2017
8 of 8