Wild Pearl Limited - Filleted accounts

Wild Pearl Limited - Filleted accounts

WILD PEARL LIMITED - Company Information

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Registered number
SC382812
Wild Pearl Limited
Filleted Accounts
31 July 2017
Wild Pearl Limited
Registered number: SC382812
Balance Sheet
as at 31 July 2017
Notes 2017 2016
£ £
Current assets
Cash at bank and in hand 4 10
Creditors: amounts falling due within one year 2 (2,664) (2,289)
Net current liabilities (2,660) (2,279)
Net liabilities (2,660) (2,279)
Capital and reserves
Called up share capital 40 40
Profit and loss account (2,700) (2,319)
Shareholders' funds (2,660) (2,279)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Jonathan Beatson-Hird
Director
Approved by the board on 22 September 2017
Wild Pearl Limited
Notes to the Accounts
for the year ended 31 July 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The director's intend to close the company down, therefore the accounts have not been prepared on the going concern basis.

The directors have agreed to pay the current trade creditors personally and not to request the repayment of their directors loan account balance to enable the company to meet its obligations and close the company down.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 51 51
Other creditors 2,613 2,238
2,664 2,289
3 Transactions with directors
During the year the directors used a current account with the company to record amounts due to them and amounts drawn by them. The account shows an amount owing back to the directors as at 31st July 2017 of £2,468.90 (2016: £2,093.50). The directors have agreed not to request repayment of the balance to enable the company to close down.
4 Related party transactions
All Directors of Wild Pearl Limited are also members of Sarum Partners LLP. Wild Pearl Limited is also a Partner of Sarum Partners LLP but currently receives 0% of profits.
5 Controlling party
Mr Jonathan Beatson-Hird, Mr Jonathan Laughton, Mr Oliver De Giorgio Miller, Mr Andrew Shuttleworth and Mr Michael McBraida each hold 20% of the share capital of the company and are all directors of Wild Pearl Limited, together they are the ultimate controlling party of Wild Pearl Limited.
6 Other information
Wild Pearl Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Crescent House Carnegie Campus
Enterprise Way
Dunfermline
Fife
KY11 8GR
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