Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr T Nashnush 04/01/1994 Mr Z Nashnush 04/01/1994 Mr N Worthington 04/01/1994 14 August 2024 The principal activity of the company is that of record production and sales. 02880892 2023-12-31 02880892 bus:Director1 2023-12-31 02880892 bus:Director2 2023-12-31 02880892 bus:Director3 2023-12-31 02880892 2022-12-31 02880892 core:CurrentFinancialInstruments 2023-12-31 02880892 core:CurrentFinancialInstruments 2022-12-31 02880892 core:ShareCapital 2023-12-31 02880892 core:ShareCapital 2022-12-31 02880892 core:RetainedEarningsAccumulatedLosses 2023-12-31 02880892 core:RetainedEarningsAccumulatedLosses 2022-12-31 02880892 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-12-31 02880892 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 02880892 core:OfficeEquipment 2022-12-31 02880892 core:OfficeEquipment 2023-12-31 02880892 bus:OrdinaryShareClass1 2023-12-31 02880892 2023-01-01 2023-12-31 02880892 bus:FilletedAccounts 2023-01-01 2023-12-31 02880892 bus:SmallEntities 2023-01-01 2023-12-31 02880892 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02880892 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02880892 bus:Director1 2023-01-01 2023-12-31 02880892 bus:Director2 2023-01-01 2023-12-31 02880892 bus:Director3 2023-01-01 2023-12-31 02880892 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-01-01 2023-12-31 02880892 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 02880892 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 02880892 2022-01-01 2022-12-31 02880892 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 02880892 core:OfficeEquipment 2023-01-01 2023-12-31 02880892 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02880892 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02880892 (England and Wales)

PURE GROOVE LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

PURE GROOVE LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PURE GROOVE LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
PURE GROOVE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr T Nashnush
Mr Z Nashnush
Mr N Worthington
SECRETARY Mr T Nashnush
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 02880892 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
PURE GROOVE LTD

BALANCE SHEET

As at 31 December 2023
PURE GROOVE LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 7,260 10,580
Tangible assets 4 7,507 3,436
14,767 14,016
Current assets
Debtors 5 94,987 57,055
Cash at bank and in hand 64,620 144,927
159,607 201,982
Creditors: amounts falling due within one year 6 ( 402,154) ( 373,777)
Net current liabilities (242,547) (171,795)
Total assets less current liabilities (227,780) (157,779)
Provision for liabilities 0 ( 23,000)
Net liabilities ( 227,780) ( 180,779)
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account ( 227,783 ) ( 180,782 )
Total shareholders' deficit ( 227,780) ( 180,779)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pure Groove Ltd (registered number: 02880892) were approved and authorised for issue by the Board of Directors on 14 August 2024. They were signed on its behalf by:

Mr T Nashnush
Director
PURE GROOVE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PURE GROOVE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pure Groove Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 5 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 4

3. Intangible assets

Website costs Total
£ £
Cost
At 01 January 2023 16,600 16,600
At 31 December 2023 16,600 16,600
Accumulated amortisation
At 01 January 2023 6,020 6,020
Charge for the financial year 3,320 3,320
At 31 December 2023 9,340 9,340
Net book value
At 31 December 2023 7,260 7,260
At 31 December 2022 10,580 10,580

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2023 4,297 4,297
Additions 5,307 5,307
At 31 December 2023 9,604 9,604
Accumulated depreciation
At 01 January 2023 861 861
Charge for the financial year 1,236 1,236
At 31 December 2023 2,097 2,097
Net book value
At 31 December 2023 7,507 7,507
At 31 December 2022 3,436 3,436

5. Debtors

2023 2022
£ £
Prepayments and accrued income 85,979 52,570
VAT recoverable 4,223 0
Other debtors 4,785 4,485
94,987 57,055

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 6,146 0
Amounts owed to directors 221,442 312,442
Accruals 161,419 51,610
Taxation and social security 13,147 9,598
Other creditors 0 127
402,154 373,777

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3 Ordinary £1 shares of £ 1.00 each 3 3