Pearlane Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01269044 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Pearlane Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A R Walker

SECRETARY:

A Walker

REGISTERED OFFICE:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

REGISTERED NUMBER:

01269044 (England and Wales)

ACCOUNTANTS:

Thompson Jones Business Solutions Limited

2 Heap Bridge

Bury

Lancashire

BL9 7HR

FIXED ASSETS

Tangible assets

5

607

759

Investment property

6

1,351,731

1,351,731

1,352,338

1,352,490

CURRENT ASSETS

Debtors

7

131,290

130,621

Prepayments and accrued income

1,718

2,228

Cash at bank

16,605

5,641

149,613

138,490

CREDITORS

Amounts falling due within one year

8

(78,033

)

(57,978

)

NET CURRENT ASSETS

71,580

80,512

TOTAL ASSETS LESS CURRENT LIABILITIES

1,423,918

1,433,002

CREDITORS

Amounts falling due after more than one year

9

(571,217

)

(641,217

)

PROVISIONS FOR LIABILITIES

(15,696

)

(15,696

)

NET ASSETS

837,005

776,089

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

11

274,052

274,052

Retained earnings

562,853

501,937

837,005

776,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 June 2021 and were signed by:

A R Walker - Director

1.	GENERAL INFORMATION

Pearlane Estates 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.

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

BASIS OF PREPARATION

These financial statements have been prepared using the historical cost convention except that as

disclosed in the accounting policies certain items are shown at fair value.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2019

and 30 September 2020

7,445

14,474

21,919

DEPRECIATION

At 1 October 2019

6,686

14,474

21,160

Charge for year

152

-

152

At 30 September 2020

6,838

14,474

21,312

NET BOOK VALUE

At 30 September 2020

607

-

607

At 30 September 2019

759

-

759

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2019

and 30 September 2020

1,351,731

NET BOOK VALUE

At 30 September 2020

1,351,731

At 30 September 2019

1,351,731

The director considers that the above value is not materially different to the fair value of the investment properties as at 30 September 2020.

7.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Other debtors

131,290

129,475

Amounts falling due after more than one year:

Other debtors

-

1,146

Aggregate amounts

131,290

130,621

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts (see note 10)

40,000

40,000

Taxation and social security

14,315

15,472

Other creditors

23,718

2,506

78,033

57,978

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans (see note 10)

120,000

240,000

Other creditors

451,217

401,217

571,217

641,217

10.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Bank loans

40,000

40,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

120,000

240,000

Amounts falling due between two and five years:

Other loans - 2-5 years

451,217

401,217

11.

RESERVES

Revaluation

reserve

£

At 1 October 2019

and 30 September 2020

274,052

12.	NON ADJUSTING EVENTS AFTER THE FINANCIAL PERIOD

Since the year end, COVID-19 has had a significant impact on businesses worldwide. The financial impact on the current business at present is difficult to evaluate. The director is continuing to monitor, assess and act on the current changing environment in order to position the company to ensure its future success.