Square Pearl Ltd - Accounts to registrar (filleted) - small 18.1

Square Pearl Ltd - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 10882273 (England and Wales)















SQUARE PEARL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25TH JULY 2017 TO 31ST JULY 2018






SQUARE PEARL LTD (REGISTERED NUMBER: 10882273)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 25TH JULY 2017 TO 31ST JULY 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SQUARE PEARL LTD

COMPANY INFORMATION
FOR THE PERIOD 25TH JULY 2017 TO 31ST JULY 2018







DIRECTOR: C A Bean





REGISTERED OFFICE: 39A Welbeck Street
London
W1G 8DH





REGISTERED NUMBER: 10882273 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
39A Welbeck Street
London
W1G 8DH

SQUARE PEARL LTD (REGISTERED NUMBER: 10882273)

BALANCE SHEET
31ST JULY 2018

Notes £    £   
FIXED ASSETS
Investment property 4 95,887

CURRENT ASSETS
Debtors 5 400
Cash at bank 38
438
CREDITORS
Amounts falling due within one year 6 31,710
NET CURRENT LIABILITIES (31,272 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,615

CREDITORS
Amounts falling due after more than one
year

7

68,885
NET LIABILITIES (4,270 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (4,370 )
SHAREHOLDERS' FUNDS (4,270 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SQUARE PEARL LTD (REGISTERED NUMBER: 10882273)

BALANCE SHEET - continued
31ST JULY 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3rd April 2019 and were signed by:





C A Bean - Director


SQUARE PEARL LTD (REGISTERED NUMBER: 10882273)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 25TH JULY 2017 TO 31ST JULY 2018


1. STATUTORY INFORMATION

Square Pearl Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover
Turnover represents the total rent receivable during the period.

Investment properties
Investment properties are shown at their fair value. Any adjustment to the fair value of the investment properties
is recognised in the profit and loss account.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as
investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties
to be depreciated. Such properties are held for investment and not for consumption and the director considers
that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements
reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise
have been charged cannot be separately identified or quantified. The director considers that this policy results in
the financial statements giving a true and fair view.

Taxation
Taxation for the period 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 period 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.

SQUARE PEARL LTD (REGISTERED NUMBER: 10882273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25TH JULY 2017 TO 31ST JULY 2018


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

Going concern
These financial statements have been prepared on the going concern basis. The company is reliant upon the
continuing support of its director and creditors. If this support was to be withdrawn, the company would be
unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet
values of assets to their recoverable amounts and to provide for further liabilities which may arise. The company
is unable to quantify the effects of such adjustments on the financial statements. The director believes that it is
appropriate for the financial statements to be prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 95,887
At 31st July 2018 95,887
NET BOOK VALUE
At 31st July 2018 95,887

The fair value of the investment property at the balance sheet date, in the opinion of the director was not
materially different from cost of £95,887. No deferred tax provision necessary.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 400

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 31,710

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 68,885

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 68,885