Company registration number 04770280 (England and Wales)
PURLFROST LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
PURLFROST LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PURLFROST LTD
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
102,601
373,324
Current assets
Stocks
66,360
65,637
Debtors
5
26,540
12,570
Cash at bank and in hand
675,392
449,493
768,292
527,700
Creditors: amounts falling due within one year
6
(76,605)
(78,143)
Net current assets
691,687
449,557
Total assets less current liabilities
794,288
822,881
Creditors: amounts falling due after more than one year
7
(9,165)
(12,203)
Provisions for liabilities
(15,139)
(15,139)
Net assets
769,984
795,539
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
769,982
795,537
Total equity
769,984
795,539

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

PURLFROST LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 February 2024 and are signed on its behalf by:
Mr E Baumard
Director
Company registration number 04770280 (England and Wales)
PURLFROST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Purlfrost Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10, The Edge Business Centre, Humber Road, London, NW2 6EW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound (£).

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Freehold improvements
Nil
Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
Computers
33% Straight Line
Motor vehicles
25% Reducing Balance
Website Costs
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If a material impairment loss arises then it is recognised in the profit and loss account or against the revaluation reserve if the asset has been revalued

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 

PURLFROST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences that have originated but not reversed at the balance sheet date.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees
2023
2022
Number
Number
Total
6
7
PURLFROST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Website Costs
Total
£
£
£
£
Cost
At 1 June 2022
291,829
221,991
111,346
625,166
Additions
8,536
56,589
-
0
65,125
Disposals
(300,365)
-
0
-
0
(300,365)
At 31 May 2023
-
0
278,580
111,346
389,926
Depreciation and impairment
At 1 June 2022
-
0
140,496
111,346
251,842
Depreciation charged in the year
-
0
35,483
-
0
35,483
At 31 May 2023
-
0
175,979
111,346
287,325
Carrying amount
At 31 May 2023
-
0
102,601
-
0
102,601
At 31 May 2022
291,829
81,495
-
0
373,324
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,128
7,153
Other debtors
21,412
5,417
26,540
12,570
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
27,154
13,688
Corporation tax
8,270
21,289
Other taxation and social security
29,590
29,064
Other creditors
11,591
14,102
76,605
78,143
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
9,165
12,203
PURLFROST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
192,000
186,000
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