59 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-26 Sage Accounts Production Advanced 2023 - FRS102_2023 340,000 340,000 xbrli:pure xbrli:shares iso4217:GBP 5107218 2022-12-26 2023-12-31 5107218 2023-12-31 5107218 2022-12-25 5107218 2021-12-27 2022-12-25 5107218 2022-12-25 5107218 2021-12-26 5107218 core:MotorVehicles 2022-12-26 2023-12-31 5107218 bus:OrdinaryShareClass1 2022-12-26 2023-12-31 5107218 bus:Director2 2022-12-26 2023-12-31 5107218 core:NetGoodwill 2023-12-31 5107218 core:LandBuildings 2022-12-25 5107218 core:FurnitureFittings 2022-12-25 5107218 core:MotorVehicles 2022-12-25 5107218 core:LandBuildings 2023-12-31 5107218 core:FurnitureFittings 2023-12-31 5107218 core:MotorVehicles 2023-12-31 5107218 core:LandBuildings 2022-12-26 2023-12-31 5107218 core:FurnitureFittings 2022-12-26 2023-12-31 5107218 core:WithinOneYear 2023-12-31 5107218 core:WithinOneYear 2022-12-25 5107218 core:ShareCapital 2023-12-31 5107218 core:ShareCapital 2022-12-25 5107218 core:RetainedEarningsAccumulatedLosses 2023-12-31 5107218 core:RetainedEarningsAccumulatedLosses 2022-12-25 5107218 core:BetweenOneFiveYears 2023-12-31 5107218 core:BetweenOneFiveYears 2022-12-25 5107218 core:MoreThanFiveYears 2023-12-31 5107218 core:MoreThanFiveYears 2022-12-25 5107218 core:LandBuildings 2022-12-25 5107218 core:FurnitureFittings 2022-12-25 5107218 core:MotorVehicles 2022-12-25 5107218 bus:SmallEntities 2022-12-26 2023-12-31 5107218 bus:AuditExempt-NoAccountantsReport 2022-12-26 2023-12-31 5107218 bus:SmallCompaniesRegimeForAccounts 2022-12-26 2023-12-31 5107218 bus:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 5107218 bus:FullAccounts 2022-12-26 2023-12-31 5107218 bus:OrdinaryShareClass1 2023-12-31 5107218 bus:OrdinaryShareClass1 2022-12-25 5107218 core:LandBuildings core:LongLeaseholdAssets 2022-12-26 2023-12-31 5107218 core:NetGoodwill 2022-12-26 2023-12-31
COMPANY REGISTRATION NUMBER: 5107218
PURE INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
PURE INVESTMENTS LIMITED
BALANCE SHEET
31 December 2023
31 Dec 23
25 Dec 22
Note
£
£
£
£
Fixed assets
Tangible assets
6
168,828
205,772
Current assets
Stocks
7
10,737
7,667
Debtors
8
22,246
20,263
Cash at bank and in hand
1,067,672
903,820
-----------
--------
1,100,655
931,750
Creditors: amounts falling due within one year
9
( 432,073)
( 307,699)
-----------
--------
Net current assets
668,582
624,051
--------
--------
Total assets less current liabilities
837,410
829,823
Provisions
Taxation including deferred tax
( 28,578)
( 35,497)
--------
--------
Net assets
808,832
794,326
--------
--------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
808,732
794,226
--------
--------
Total shareholders' funds
808,832
794,326
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
S F Tarling
Director
Company registration number: 5107218
PURE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 26 DECEMBER 2022 TO 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 North Bar, Banbury, OX16 OTB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going concern After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents amounts for goods sold during the year, exclusive of Value Added Tax and is recognised on delivery to customers.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% per annum straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
straight line basis over the term of the trading property lease period
Fixtures and fittings
-
10 - 20% straight line basis
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial assets, which include other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, including trade and other payables, and bank loans that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables 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 payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 59 (2022: 59 ).
5. Intangible assets
Goodwill
£
Cost
At 26 December 2022 and 31 December 2023
340,000
--------
Accumulated amortisation
At 26 December 2022 and 31 December 2023
340,000
--------
Carrying amount
At 31 December 2023
--------
At 25 December 2022
--------
6. Tangible assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 26 December 2022
92,282
177,474
115,020
384,776
Additions
18,255
18,255
Disposals
( 1,395)
( 1,395)
-------
--------
--------
--------
At 31 December 2023
92,282
194,334
115,020
401,636
-------
--------
--------
--------
Accumulated depreciation
At 26 December 2022
30,131
85,597
63,276
179,004
Charge for the period
9,228
16,918
28,755
54,901
Disposals
( 1,097)
( 1,097)
-------
--------
--------
--------
At 31 December 2023
39,359
101,418
92,031
232,808
-------
--------
--------
--------
Carrying amount
At 31 December 2023
52,923
92,916
22,989
168,828
-------
--------
--------
--------
At 25 December 2022
62,151
91,877
51,744
205,772
-------
--------
--------
--------
7. Stocks
31 Dec 23
25 Dec 22
£
£
Raw materials and consumables
10,737
7,667
-------
------
8. Debtors
31 Dec 23
25 Dec 22
£
£
Trade debtors
797
Other debtors
21,449
20,263
-------
-------
22,246
20,263
-------
-------
9. Creditors: amounts falling due within one year
31 Dec 23
25 Dec 22
£
£
Trade creditors
57,888
49,078
Corporation tax
38,358
73,494
Social security and other taxes
182,700
113,848
Other creditors
153,127
71,279
--------
--------
432,073
307,699
--------
--------
10. Called up share capital
Issued, called up and fully paid
31 Dec 23
25 Dec 22
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Dec 23
25 Dec 22
£
£
Not later than 1 year
30,000
30,000
Later than 1 year and not later than 5 years
120,000
120,000
Later than 5 years
5,342
35,836
--------
--------
155,342
185,836
--------
--------