Pure Arts Limited 07547791 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is promotion of Arts and Artists. Digita Accounts Production Advanced 6.30.9574.0 true true 07547791 2023-04-01 2024-03-31 07547791 2024-03-31 07547791 core:RetainedEarningsAccumulatedLosses 2024-03-31 07547791 core:ShareCapital 2024-03-31 07547791 core:CurrentFinancialInstruments 2024-03-31 07547791 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07547791 core:Non-currentFinancialInstruments 2024-03-31 07547791 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07547791 core:FurnitureFittingsToolsEquipment 2024-03-31 07547791 bus:SmallEntities 2023-04-01 2024-03-31 07547791 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07547791 bus:FilletedAccounts 2023-04-01 2024-03-31 07547791 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07547791 bus:RegisteredOffice 2023-04-01 2024-03-31 07547791 bus:Director1 2023-04-01 2024-03-31 07547791 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07547791 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07547791 countries:EnglandWales 2023-04-01 2024-03-31 07547791 2023-03-31 07547791 core:FurnitureFittingsToolsEquipment 2023-03-31 07547791 2022-04-01 2023-03-31 07547791 2023-03-31 07547791 core:RetainedEarningsAccumulatedLosses 2023-03-31 07547791 core:ShareCapital 2023-03-31 07547791 core:CurrentFinancialInstruments 2023-03-31 07547791 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07547791 core:Non-currentFinancialInstruments 2023-03-31 07547791 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07547791 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 07547791

Pure Arts Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Pure Arts Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pure Arts Limited

Company Information

Director

L Samms

Registered office

39 High Street
Battle
East Sussex
TN33 0EE

Accountants

Manningtons
39 High Street
Battle
East Sussex
TN33 0EE

 

Pure Arts Limited

(Registration number: 07547791)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,320

5,042

Current assets

 

Debtors

5

450

450

Cash at bank and in hand

 

4,044

4,260

 

4,494

4,710

Creditors: Amounts falling due within one year

6

(34,875)

(27,080)

Net current liabilities

 

(30,381)

(22,370)

Total assets less current liabilities

 

(25,061)

(17,328)

Creditors: Amounts falling due after more than one year

6

(8,300)

(8,300)

Net liabilities

 

(33,361)

(25,628)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(33,461)

(25,728)

Shareholders' deficit

 

(33,361)

(25,628)

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 November 2024
 

.........................................
L Samms
Director

 

Pure Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
39 High Street
Battle
East Sussex
TN33 0EE
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding that there is a deficiency
of assets at the year end date amounting to £33,461. The validity of this assumption is dependent on the
continued financial support of the company's director and creditors. The financial statements do not include any
adjustments that would result from discontinuance of their financial support. On this basis, the director considers
that it is appropriate for the financial statements to be prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Pure Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

plant, machinery, furniture, fittings, tools and equipment

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Pure Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

10,458

10,458

Additions

1,413

1,413

Disposals

730

730

At 31 March 2024

12,601

12,601

Depreciation

At 1 April 2023

5,416

5,416

Charge for the year

1,561

1,561

Eliminated on disposal

304

304

At 31 March 2024

7,281

7,281

Carrying amount

At 31 March 2024

5,320

5,320

At 31 March 2023

5,042

5,042

5

Debtors

2024
£

2023
£

Prepayments

450

450

450

450

 

Pure Arts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

900

900

Other creditors

1

1

Director loan account

33,974

26,179

34,875

27,080

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

8,300

8,300

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

8,300

8,300