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REGISTERED NUMBER: 07980716 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

PurePac Ltd

PurePac Ltd (Registered number: 07980716)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PurePac Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr N D Atkinson
Mrs S M Atkinson





REGISTERED OFFICE: Pacioli House, 9 Brookfield
Duncan Close
Moulton Park
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 07980716 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

PurePac Ltd (Registered number: 07980716)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 100,000
Tangible assets 5 411,566 382,563
501,566 482,563

CURRENT ASSETS
Stocks 268,765 281,793
Debtors 6 1,006,471 821,358
Cash at bank and in hand 259,636 292,571
1,534,872 1,395,722
CREDITORS
Amounts falling due within one year 7 665,679 616,380
NET CURRENT ASSETS 869,193 779,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,370,759

1,261,905

CREDITORS
Amounts falling due after more than one
year

8

25,779

35,000
NET ASSETS 1,344,980 1,226,905

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,343,980 1,225,905
SHAREHOLDERS' FUNDS 1,344,980 1,226,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PurePac Ltd (Registered number: 07980716)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:




Mrs S M Atkinson - Director



Mr N D Atkinson - Director


PurePac Ltd (Registered number: 07980716)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

PurePac Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page. The company's trading address is Baird Close, Drayton Fields, Daventry, Northamptonshire, NN11 8RY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in sterling (£) and cover the period to 31st March each year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life..

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Commercial vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


PurePac Ltd (Registered number: 07980716)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

PurePac Ltd (Registered number: 07980716)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023 100,000
Charge for year 10,000
At 31 March 2024 110,000
NET BOOK VALUE
At 31 March 2024 90,000
At 31 March 2023 100,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 40,575 200,617 414,703 655,895
Additions 617 74,124 46,352 121,093
Disposals (10,001 ) (19,570 ) (9,945 ) (39,516 )
At 31 March 2024 31,191 255,171 451,110 737,472
DEPRECIATION
At 1 April 2023 24,727 110,689 137,916 273,332
Charge for year 2,931 22,720 62,209 87,860
Eliminated on disposal (8,449 ) (17,971 ) (8,866 ) (35,286 )
At 31 March 2024 19,209 115,438 191,259 325,906
NET BOOK VALUE
At 31 March 2024 11,982 139,733 259,851 411,566
At 31 March 2023 15,848 89,928 276,787 382,563

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 791,712 794,986
Other debtors 214,759 26,372
1,006,471 821,358

PurePac Ltd (Registered number: 07980716)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 54,943
Trade creditors 488,137 428,268
Taxation and social security 169,423 119,133
Other creditors 8,119 14,036
665,679 616,380

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,779 35,000

9. FINANCIAL INSTRUMENTS

The company does not have significant exposure to foreign currency, credit, liquidity, cash flow and interest rate risks. These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has some exposure to foreign currency risks as some of the company's purchases are made through a bank account that's in euros. The risk is low as the activity is minimal.

Credit risk
The company has limited exposure to credit risk. The company's exposure and its customers' credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves, banking and borrowing facilities. The directors manage liquidity between secured bank financing and interest free, unsecured, related party borrowings.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company was owed by those with significant control £196,364 which was paid within 9 months of the year end. In the prior year, at the balance sheet date, the company was owed by those with significant control £13,440.