Company registration number 10859174 (England and Wales)
PURTINGTON INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
PURTINGTON INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PURTINGTON INVESTMENTS LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
315,274
570,838
Current assets
-
-
Creditors: amounts falling due within one year
4
(227,321)
(519,140)
Net current liabilities
(227,321)
(519,140)
Total assets less current liabilities
87,953
51,698
Provisions for liabilities
(2,982)
(1,851)
Net assets
84,971
49,847
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
84,871
49,747
Total equity
84,971
49,847
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 July 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.
The financial statements were approved by the board of directors and authorised for issue on 30 March 2024 and are signed on its behalf by:
Mr A Baldock
Director
Company registration number 10859174 (England and Wales)
PURTINGTON INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
Purtington Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
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 £.
The financial statements have been prepared to include investments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The working capital needs of the company are met through loans provided by the directors. The directors have confirmed that it is their intention to continue to extend these loans to the company, and that they do not intend to seek repayment of the loans in the short term. The directors therefore feel it is appropriate to prepare the financial statements on the going concern basis.
1.3
Fixed asset investments
Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.4
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. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. 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 and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
PURTINGTON INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
2
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Other investments other than loans
315,274
570,838
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 August 2022
570,838
Additions
19,585
Valuation changes
5,742
Disposals
(280,891)
At 31 July 2023
315,274
Carrying amount
At 31 July 2023
315,274
At 31 July 2022
570,838
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,381
Other creditors
223,940
519,140
227,321
519,140
PURTINGTON INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
5
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Revaluations
2,982
1,851
2023
Movements in the year:
£
Liability at 1 August 2022
1,851
Charge to profit or loss
1,131
Liability at 31 July 2023
2,982
6
Non-distributable profits reserve
The profit and loss account reserve includes non-distributable reserves of £12,714 (2022: £8,104).