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REGISTERED NUMBER: 05076956 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PURELYPAPER LTD

PURELYPAPER LTD (REGISTERED NUMBER: 05076956)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

PURELYPAPER LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr S Butler
Mrs A S M Butler



SECRETARY: Mr S Butler



REGISTERED OFFICE: 10 St. Ann Street
Salisbury
SP1 2DN



REGISTERED NUMBER: 05076956 (England and Wales)



ACCOUNTANTS: Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



BANKERS: Lloyds Bank PLC
38 Blue Boar Row
Salisbury
Wiltshire
SP1 1DB

PURELYPAPER LTD (REGISTERED NUMBER: 05076956)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,931 21,136
Tangible assets 5 757 218
21,688 21,354

CURRENT ASSETS
Debtors 6 106,880 150,604
Cash at bank 131,894 152,505
238,774 303,109
CREDITORS
Amounts falling due within one year 7 135,082 160,425
NET CURRENT ASSETS 103,692 142,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,380

164,038

PROVISIONS FOR LIABILITIES 2,000 1,941
NET ASSETS 123,380 162,097

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 123,378 162,095
SHAREHOLDERS' FUNDS 123,380 162,097

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





Mr S Butler - Director


PURELYPAPER LTD (REGISTERED NUMBER: 05076956)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for the supply of paper and other office supplies.

Revenue is recognised on the sale of goods once the customer has placed their online order at which time the significant risks and rewards associated with the product are transferred to the customer.

Intangible assets
The Company's website is being amortised evenly over its estimated useful life of 10 years.

The assets' residual value, useful live and amortisation method is reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

PURELYPAPER LTD (REGISTERED NUMBER: 05076956)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors
Creditors are not interest bearing and are stated at their nominal value.

Reserves
The movement in the fair value of plant & equipment to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains appropriate depreciation and deferred tax provisions, may not be distributed to the shareholders.

Any movements in the reserve are not liable to corporation tax and an appropriate deferred tax provision is provided within the reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 April 2023 34,503
Additions 3,392
At 31 March 2024 37,895
AMORTISATION
At 1 April 2023 13,367
Charge for year 3,597
At 31 March 2024 16,964
NET BOOK VALUE
At 31 March 2024 20,931
At 31 March 2023 21,136

Cost or valuation at 31 March 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2019 20,000
Cost 17,895
37,895

PURELYPAPER LTD (REGISTERED NUMBER: 05076956)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 4,451 14,518 18,969
Additions - 817 817
At 31 March 2024 4,451 15,335 19,786
DEPRECIATION
At 1 April 2023 4,250 14,501 18,751
Charge for year 198 80 278
At 31 March 2024 4,448 14,581 19,029
NET BOOK VALUE
At 31 March 2024 3 754 757
At 31 March 2023 201 17 218

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 6,994 11,912
Other debtors 37,886 76,692
44,880 88,604

Amounts falling due after more than one year:
Other debtors 62,000 62,000

Aggregate amounts 106,880 150,604

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 93,952 116,701
Taxation and social security 37,126 39,597
Other creditors 4,004 4,127
135,082 160,425

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 979 9,934
Between one and five years 13,541 14,519
14,520 24,453

PURELYPAPER LTD (REGISTERED NUMBER: 05076956)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. RESERVES

31.3.2431.3.23
£ £
Distributable117,212153,995
Non - distributable6,1668,100
123,378162,095

Movement in Non-distributable reserve31.3.2431.3.23
£ £

Balance brought forward 8,1009,720
Asset disposals--
Fair value uplift- -
Movement in depreciation(2,000)(2,000)
Movement in deferred tax66380
Balance carried forward 6,1668,100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.2431.3.23
£ £

Balance outstanding at the start of the year31,8077,685
Amounts advanced-31,807
Amount repaid(31,807)(7,685)
Balance outstanding at the end of the year-31,807


31.3.2431.3.23
£ £

Balance outstanding at the start of the year62,00062,000
Amounts advanced--
Amount repaid--
Balance outstanding at the end of the year62,00062,000
The loans are repayable on demand and interest is charged at commercial rates.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PURELYPAPER LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Purelypaper Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Purelypaper Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Purelypaper Ltd and state those matters that we have agreed to state to the Board of Directors of Purelypaper Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purelypaper Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Purelypaper Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Purelypaper Ltd. You consider that Purelypaper Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Purelypaper Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN


14 November 2024