ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

PEARLSTONE ENERGY LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09424680 2022-01-01 2022-12-31 09424680 2021-01-01 2021-12-31 09424680 2022-12-31 09424680 2021-12-31 09424680 c:Director1 2022-01-01 2022-12-31 09424680 d:OfficeEquipment 2022-01-01 2022-12-31 09424680 d:OfficeEquipment 2022-12-31 09424680 d:OfficeEquipment 2021-12-31 09424680 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09424680 d:CurrentFinancialInstruments 2022-12-31 09424680 d:CurrentFinancialInstruments 2021-12-31 09424680 d:Non-currentFinancialInstruments 2022-12-31 09424680 d:Non-currentFinancialInstruments 2021-12-31 09424680 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09424680 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09424680 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09424680 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09424680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09424680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 09424680 d:ShareCapital 2022-12-31 09424680 d:ShareCapital 2021-12-31 09424680 d:SharePremium 2022-12-31 09424680 d:SharePremium 2021-12-31 09424680 d:CapitalRedemptionReserve 2022-12-31 09424680 d:CapitalRedemptionReserve 2021-12-31 09424680 d:RetainedEarningsAccumulatedLosses 2022-12-31 09424680 d:RetainedEarningsAccumulatedLosses 2021-12-31 09424680 c:OrdinaryShareClass2 2022-01-01 2022-12-31 09424680 c:OrdinaryShareClass2 2022-12-31 09424680 c:OrdinaryShareClass2 2021-12-31 09424680 c:FRS102 2022-01-01 2022-12-31 09424680 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09424680 c:FullAccounts 2022-01-01 2022-12-31 09424680 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09424680

PEARLSTONE ENERGY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022


PEARLSTONE ENERGY LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


PEARLSTONE ENERGY LIMITED REGISTERED NUMBER:09424680

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		-		128
Current assets
Debtors: amounts falling due within one year	5	10,494		6,257
Cash at bank and in hand		255,731		496,671
		266,225		502,928
Current liabilities
Creditors: amounts falling due within one year	6	(171,487)		(167,929)
Net current assets			94,738		334,999
Creditors: amounts falling due after more than one year	7		(35,654)		(43,968)

Net assets			59,084		291,159

Capital and reserves
Called up share capital	9	1,551	1,551
Share premium account		1,378,272	1,378,272
Capital redemption reserve		100	100
Profit and loss account		(1,320,839)	(1,088,764)
		59,084	291,159

Page 1


PEARLSTONE ENERGY LIMITED REGISTERED NUMBER:09424680

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2022

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2023.

Dr A Camyab

Director

Page 2


PEARLSTONE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

Pearlstone Energy Limited is a limited liability company registered in England and Wales. Its registered office address is at 71-75 Shelton Street, London, WC2H 9JQ.
The principal activity of the Company during the year was that of to provide a range of energy management services for customers in the UK.
The financial statements are presented in £ sterling, which is the functional currency of the Company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Company made a loss for the year. The Directors have obtained assurance from the Shareholders that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax.

Revenue is recognised when the service is provided.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3


PEARLSTONE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 4


PEARLSTONE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2022	557
	At 31 December 2022	557
	Depreciation
	At 1 January 2022	429
	Charge for the year on owned assets	128
	At 31 December 2022	557
	Net book value
	At 31 December 2022	-
	At 31 December 2021	128

Debtors

					2022	2021
					£	£


Trade debtors	3,600	-
Other debtors	1,004	844
Prepayments and accrued income	5,890	5,413
	10,494	6,257

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Bank loans	10,000	6,441
Trade creditors	120,000	120,000
Other creditors	39,987	39,988
Accruals and deferred income	1,500	1,500
	171,487	167,929

Page 5


PEARLSTONE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

7.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

	Bank loans	35,654	43,968

Amounts falling due within one year
Bank loans	10,000	6,441

Amounts falling due 2-5 years
Bank loans	35,654	43,968

	45,654	50,409

9.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

155,139 (2021 - 155,139) Ordinary shares of £0.01 each	1,551	1,551

Page 6