Company Registration No. SC615410 (Scotland)
Pure Sport Oil Limited
Unaudited accounts
for the year ended 31 December 2023
Pure Sport Oil Limited
Unaudited accounts
Contents
Pure Sport Oil Limited
Company Information
for the year ended 31 December 2023
Directors
D Temm
B MacCulloch
A Stewart
Company Number
SC615410 (Scotland)
Registered Office
Douglas House
42 Main Street
Milngavie
Glasgow
G62 6BU
Accountants
Assenti & Noble Ltd
18 Mosshead Road
Bearsden
Glasgow
G61 3HN
Pure Sport Oil Limited
Statement of financial position
as at 31 December 2023
Intangible assets
5,783
9,524
Tangible assets
25,264
30,546
Inventories
320,386
107,072
Cash at bank and in hand
445,895
414,093
Creditors: amounts falling due within one year
(1,040,180)
(384,264)
Net current assets
248,364
357,474
Total assets less current liabilities
279,411
397,544
Creditors: amounts falling due after more than one year
(16,066)
(19,117)
Net assets
263,345
378,427
Called up share capital
13,703
13,359
Share premium
2,086,960
1,799,148
Profit and loss account
(1,837,318)
(1,434,080)
Shareholders' funds
263,345
378,427
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by
D Temm
Director
Company Registration No. SC615410
Pure Sport Oil Limited
Notes to the Accounts
for the year ended 31 December 2023
Pure Sport Oil Limited is a private company, limited by shares, registered in Scotland, registration number SC615410. The registered office is Douglas House, 42 Main Street, Milngavie, Glasgow, G62 6BU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Purchased domain names are included at cost less accumulated amortisation and impairment. Amortisation has been provided at a rate of 4% straight line.
Pure Sport Oil Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
7,449
27,766
6,816
42,031
Additions
-
3,072
1,581
4,653
At 31 December 2023
7,449
30,838
8,397
46,684
At 1 January 2023
4,043
5,221
2,221
11,485
Charge for the year
2,355
5,951
1,629
9,935
At 31 December 2023
6,398
11,172
3,850
21,420
At 31 December 2023
1,051
19,666
4,547
25,264
At 31 December 2022
3,406
22,545
4,595
30,546
Amounts falling due within one year
Trade debtors
151,187
29,256
Accrued income and prepayments
261,132
191,317
Pure Sport Oil Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,600
33,720
Trade creditors
749,295
254,504
Taxes and social security
39,423
27,921
Other creditors
21,523
33,537
Loans from directors
-
735
8
Creditors: amounts falling due after more than one year
2023
2022
9
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
103,334
103,334
Later than one year and not later than five years
109,398
212,732
10
Average number of employees
During the year the average number of employees was 10 (2022: 9).