Registered number
07414615
Pure Panel Management Limited
Unaudited Filleted Accounts
31 December 2023
Pure Panel Management Limited
Registered number: 07414615
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 321,535 1,136
Investments 4 50,000 50,000
371,535 51,136
Current assets
Debtors 5 610,478 428,811
Investments held as current assets 6 856,171 313,643
Cash at bank and in hand 429,620 1,037,107
1,896,269 1,779,561
Creditors: amounts falling due within one year 7 (669,138) (593,059)
Net current assets 1,227,131 1,186,502
Total assets less current liabilities 1,598,666 1,237,638
Provisions for liabilities (1,802) (113)
Net assets 1,596,864 1,237,525
Capital and reserves
Called up share capital 108 108
Profit and loss account 1,596,756 1,237,417
Shareholders' funds 1,596,864 1,237,525
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Gillam
Director
Approved by the board on 26 September 2024
Pure Panel Management Limited
Notes to the Accounts
for the year ended 31 December 2023
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Land and buildings over 100 years
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
1 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 16
2 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 12,500
At 31 December 2023 12,500
Amortisation
At 1 January 2023 12,500
At 31 December 2023 12,500
Net book value
At 31 December 2023 -
Goodwill was written off over its economic useful life of 3 years.
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 - 50,680 50,680
Additions 316,728 9,183 325,911
Disposals - (20,132) (20,132)
At 31 December 2023 316,728 39,731 356,459
Depreciation
At 1 January 2023 - 49,544 49,544
Charge for the year 2,399 3,113 5,512
On disposals - (20,132) (20,132)
At 31 December 2023 2,399 32,525 34,924
Net book value
At 31 December 2023 314,329 7,206 321,535
At 31 December 2022 - 1,136 1,136
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 50,000
At 31 December 2023 50,000
5 Debtors 2023 2022
£ £
Trade debtors 429,209 346,404
Other debtors 181,269 82,407
610,478 428,811
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 856,171 313,643
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 315,087 278,157
Taxation and social security costs 239,511 169,470
Other creditors 114,540 145,432
669,138 593,059
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases - 12,030
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J A Gillam
Director's loan - 65,000 - 65,000
- 65,000 - 65,000
10 Other information
Pure Panel Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Diamond Court
Kingston Park
Newcastle upon Tyne
Tyne and Wear
NE3 2EN
11 Prior period adjustment
The prior period adjustment relates to the correction of capital repayments on investments held
as current assets incorrectly treated as interest receivable.
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