Pearlgold Limited,Ltd - AccountsLtd - Accounts

Pearlgold Limited,Ltd - AccountsLtd - Accounts

PEARLGOLD LIMITED - Company Information

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2017-02-01 03011829 2018-01-31 03011829 2017-02-01 2018-01-31 03011829 uk-bus:RegisteredOffice 2017-02-01 2018-01-31 03011829 uk-bus:Director1 2017-02-01 2018-01-31 03011829 uk-bus:Director1 2018-01-31 03011829 uk-bus:Director2 2017-02-01 2018-01-31 03011829 uk-bus:Director2 2018-01-31 03011829 uk-bus:Director3 2017-02-01 2018-01-31 03011829 uk-bus:Director3 2018-01-31 03011829 2017-01-31 03011829 2016-02-01 2017-01-31 03011829 uk-core:WithinOneYear 2017-01-31 03011829 uk-core:WithinOneYear 2018-01-31 03011829 uk-core:ShareCapital 2018-01-31 03011829 uk-core:ShareCapital 2017-01-31 03011829 uk-core:RevaluationReserve 2018-01-31 03011829 uk-core:RevaluationReserve 2017-01-31 03011829 uk-core:RetainedEarningsAccumulatedLosses 2018-01-31 03011829 uk-core:RetainedEarningsAccumulatedLosses 2017-01-31 03011829 uk-core:CostValuation 2017-01-31 03011829 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2017-01-31 03011829 uk-core:RevaluationsIncreaseDecreaseInInvestments 2018-01-31 03011829 uk-core:RevaluationsIncreaseDecreaseInInvestments uk-core:Non-currentFinancialInstruments 2018-01-31 03011829 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2018-01-31 03011829 uk-core:CostValuation 2018-01-31 03011829 uk-core:Non-currentFinancialInstruments 2018-01-31 03011829 uk-core:Non-currentFinancialInstruments 2017-01-31 iso4217:GBP 03011829 uk-bus:AuditExemptWithAccountantsReport 2017-02-01 2018-01-31 03011829 uk-bus:FRS102 2017-02-01 2018-01-31 03011829 uk-bus:FullAccounts 2017-02-01 2018-01-31 03011829 uk-bus:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31
Pearlgold Limited
Registered Number:03011829
For the year ended 31 January 2018
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 January 2018
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
Statement of Changes in Equity
8 to 9
Notes to the Financial Statements
3
For the year ended 31 January 2018
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
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4
For the year ended 31 January 2018
Pearlgold Limited
Directors' Report
The directors present their report and accounts for the year ended 31 January 2018.
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 (appointed on 01/03/2017)
Surjit Singh (appointed on 01/03/2017)
Gurprit Singh Toot
Surjit Singh
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 2018
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5
For the year ended 31 January 2018
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 2018 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 2018
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6
For the year ended 31 January 2018
Pearlgold Limited
Income Statement
2017
£
2018
£
Turnover
204,458
184,717
184,717
Gross profit
204,458
Administrative expenses
(17,741)
(14,764)
Other operating income
7
6
Operating profit
186,724
169,959
186,724
169,959
Profit before taxation
(35,777)
(33,992)
Taxation
150,947
Profit for the financial year
135,967
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7
For the year ended 31 January 2018
Pearlgold Limited
Other Comprehensive Income
2018
2017
£
£
150,947
135,967
Profit for the financial year
Total comprehensive income since last annual report
150,947
135,967
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8
As at 31 January 2018
Pearlgold Limited
Statement of Financial Position
Registered Number :
03011829
£
£
2017
2018
Notes
Fixed assets
Financial assets
4,000,000
4,000,000
2
4,000,000
4,000,000
Current assets
Trade and other receivables
4,726
1,753
3
29,186
Cash and cash equivalents
25,248
27,001
33,912
Trade and other payables: amounts falling due within one
year
(209,434)
(211,484)
4
(175,522)
(184,483)
Net current liabilities
Total assets less current liabilities
3,815,517
3,824,478
3,815,517
Net assets
3,824,478
Capital and reserves
Called up share capital
100
8
Revaluation reserve
2,790,619
2,790,619
5
Retained earnings
1,024,798
1,033,851
3,815,517
3,824,478
Shareholders' funds
For the year ended 31 January 2018 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 2018 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 2018 and were signed by:
The notes form part of these financial statements
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9
For the year ended 31 January 2018
Pearlgold Limited
Statement of Changes in Equity
Share capital
Revaluation
reserve
Retained
earnings
Total
£
£
£
£
Balance at 01 February 2016
8
1,290,619
1,041,884
2,332,511
-
-
135,967
135,967
Profit for the period
Other comprehensive income for the period
-
1,500,000
-
1,500,000
Dividends
-
-
(144,000)
(144,000)
Balance at 31 January 2017 and 01 February
2017
3,824,478
1,033,851
2,790,619
8
Share issue during the year
92
-
-
92
-
-
150,947
150,947
Profit for the year
Dividends
-
-
(160,000)
(160,000)
Balance at 31 January 2018
100
2,790,619
1,024,798
3,815,517
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10
For the year ended 31 January 2018
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 2017
1,209,381
1,209,381
Cost
£
£
2,790,619
2,790,619
Revaluations
At 31 January 2018
4,000,000
4,000,000
At 31 January 2018
Net book value
4,000,000
4,000,000
At 01 February 2017
1,209,381
1,209,381
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11
For the year ended 31 January 2018
Pearlgold Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2017
2018
£
£
Trade debtors
1,753
4,726
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
33,800
33,800
Taxation and social security
35,777
33,992
Other creditors
141,907
141,642
211,484
209,434
5. Reserves
Total
£
Revaluation reserve at 01 February 2017
2,790,619
2,790,619
Revaluation reserve at 31 January 2018
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