REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
PURE PUBLIC RELATIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
PURE PUBLIC RELATIONS LIMITED |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
PURE PUBLIC RELATIONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
85 Great Portland Street |
London |
W1W 7LT |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | 10 |
Shareholders' funds |
The directors acknowledge their 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. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
BALANCE SHEET - continued |
31ST MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
PURE PUBLIC RELATIONS LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. |
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: |
Leasehold Improvements 20% straight line method |
Plant and machinery 50% reducing balance basis |
Fixtures and fittings 20% straight line method |
Computer equipment 33% straight line method |
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. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
The company's policies for its major classes of financial assets and financial liabilities are set out below. |
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Impairment of financial assets |
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets and financial liabilities |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Offsetting of financial assets and financial liabilities |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Valuation of investments |
Investments in listed company shares are remeasured to market value at each balance sheet. Gains and losses on remeasurement are recognised in profit or loss for the period. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Operating leases: the company as lessee |
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. |
Interest income |
Interest income is recognised in profit or loss using the effective interest method. |
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. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Pension commitments |
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £90,868 (2022 - £145,523). Contributions totalling £2,046 (2022 - £2,458) were payable to the fund at the balance sheet date and are included in creditors. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and | Computer |
Improvements | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2022 |
Additions |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st April 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
Other investments represents the Quoted Investments which are shown at market value. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | 1 | 2 | 2 |
10. | RESERVES |
Revaluation reserve |
The revaluation reserve relates to the revaluation of the company's fixed assets investment. The reserve is not distributable. |
Profit and loss account |
The profit and loss account includes all current and prior period retained profits and losses. |
PURE PUBLIC RELATIONS LIMITED (REGISTERED NUMBER: 03728886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
11. | RELATED PARTY DISCLOSURES |
As at the year-end date of 31 March 2023 the balance due to C Ward who is a director of the company is £40,101 (2022: £9,899) which is repayable on demand. This balance appears in other creditors. |
As at the year-end date of 31 March 2023 the balance due from K Marks who is a director of the company is £3,198 (2022: £50,175) this balance was repaid by 31 December 2023 and appears in other debtors. |