1 January 2022 v2023.21.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00truexbrli:purexbrli:sharesiso4217:GBP101645642022-01-012022-12-31101645642022-12-31101645642021-12-3110164564core:WithinOneYear2022-12-3110164564core:WithinOneYear2021-12-3110164564core:AfterOneYear2022-12-3110164564core:AfterOneYear2021-12-3110164564core:ShareCapital2022-12-3110164564core:ShareCapital2021-12-3110164564core:RetainedEarningsAccumulatedLosses2022-12-3110164564core:RetainedEarningsAccumulatedLosses2021-12-3110164564bus:Director12022-01-012022-12-3110164564bus:RegisteredOffice2022-01-012022-12-3110164564core:CostValuation2022-01-0110164564core:AdditionsToInvestments2022-12-3110164564core:CostValuation2022-12-311016456412022-01-012022-12-31101645642021-01-012021-12-3110164564countries:EnglandWales2022-01-012022-12-3110164564bus:AuditExemptWithAccountantsReport2022-01-012022-12-3110164564bus:PrivateLimitedCompanyLtd2022-01-012022-12-3110164564bus:SmallEntities2022-01-012022-12-3110164564bus:FullAccounts2022-01-012022-12-31
Company registration number:
10164564
Pure Digital Commerce Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2022
Pure Digital Commerce Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Pure Digital Commerce Limited
Year ended
31 December 2022
As described on the statement of financial position, the Board of Directors of
Pure Digital Commerce Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2022
, which comprise the income statement, statement of financial position and related notes.
In accordance with your instructions I have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Sort Your Accounts Hampshire Ltd
87 The Hundred
Romsey
Hampshire
SO51 8BZ
United Kingdom
Pure Digital Commerce Limited
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Investments 5
1,466,494
 
1,466,493
 
Current assets    
Debtors 6
99,191
 
7,500
 
Cash at bank and in hand
159,218
 
222,581
 
258,409
 
230,081
 
Creditors: amounts falling due within one year 7
(596,420
)
(592,721
)
Net current liabilities
(338,011
)
(362,640
)
Total assets less current liabilities 1,128,483   1,103,853  
Creditors: amounts falling due after more than one year 8
(995,875
)
(995,875
)
Net assets
132,608
 
107,978
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
132,606
 
107,976
 
Shareholders funds
132,608
 
107,978
 
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
15 September 2023
, and are signed on behalf of the board by:
J Arney
Director
Company registration number:
10164564
Pure Digital Commerce Limited
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
87 The Hundred
, ,
Romsey
,
SO51 8BZ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

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.

Revenue Recognition

Turnover represents the management charges receivable from the company's wholly owned subsidiary.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the repo1ting date in the countries where the company operates and generates taxable income.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2021: Nil).

5 Investments

Other investments other than loans
£
Cost  
At
1 January 2022
1,466,493
 
Additions
1
 
At
31 December 2022
1,466,494
 
Impairment  
At
1 January 2022
and
31 December 2022
-  
Carrying amount  
At
31 December 2022
1,466,494
 
At 31 December 2021
1,466,493
 
The company 100% owns Trailertek Ltd and Pure Digital Commerce Group Ltd both of whom are registered in England and Wales.

6 Debtors

20222021
££
Trade debtors -  
7,500
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
99,191
  -  
99,191
 
7,500
 

7 Creditors: amounts falling due within one year

20222021
££
Taxation and social security
4,176
 
5,074
 
Other creditors
592,244
 
587,647
 
596,420
 
592,721
 

8 Creditors: amounts falling due after more than one year

20222021
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
995,875
 
995,875