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Registration number: 13236632

Pury Erskine Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 16 June 2023

 

Pury Erskine Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pury Erskine Limited

Company Information

Directors

Mr Ian David Graham

Mr Matthew Iain Bolt

Registered office

Central Court
25 Southampton Buildings
London
WC2A 1AL

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

 

Pury Erskine Limited

(Registration number: 13236632)
Balance Sheet as at 16 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,583

3,697

Current assets

 

Debtors

5

154,969

73,732

Cash at bank and in hand

 

298,466

198,206

 

453,435

271,938

Creditors: Amounts falling due within one year

6

(247,873)

(140,018)

Net current assets

 

205,562

131,920

Net assets

 

211,145

135,617

Capital and reserves

 

Retained earnings

211,145

135,617

Shareholders' funds

 

211,145

135,617

For the financial year ending 16 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2024 and signed on its behalf by:
 

.........................................
Mr Ian David Graham
Director

 

Pury Erskine Limited

Notes to the Unaudited Financial Statements for the Year Ended 16 June 2023

1

General information

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

The address of its registered office is:
Central Court
25 Southampton Buildings
London
WC2A 1AL

These financial statements were authorised for issue by the Board on 26 February 2024.

The company registration number is 13236632

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 reporting date in the countries where the company operates and generates taxable income.

 

Pury Erskine Limited

Notes to the Unaudited Financial Statements for the Year Ended 16 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

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. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Pury Erskine Limited

Notes to the Unaudited Financial Statements for the Year Ended 16 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 1).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 17 June 2022

4,010

4,010

Additions

2,950

2,950

At 16 June 2023

6,960

6,960

Depreciation

At 17 June 2022

313

313

Charge for the year

1,064

1,064

At 16 June 2023

1,377

1,377

Carrying amount

At 16 June 2023

5,583

5,583

At 16 June 2022

3,697

3,697

 

Pury Erskine Limited

Notes to the Unaudited Financial Statements for the Year Ended 16 June 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

147,398

68,238

Prepayments

5,717

3,640

Other debtors

1,854

1,854

 

154,969

73,732

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

13,245

19,674

Amounts owed to group undertakings and undertakings in which the company has a participating interest

75,000

-

Taxation and social security

 

97,749

55,480

Other creditors

 

61,879

64,864

 

247,873

140,018

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100