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REGISTERED NUMBER: 08576127 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Pure Commercial Finance Ltd

Pure Commercial Finance Ltd (Registered number: 08576127)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pure Commercial Finance Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B D Lloyd
G V Morgan





REGISTERED OFFICE: Kimberley House
Ty Glas Avenue
Llanishen
Cardiff
CF14 5DX





REGISTERED NUMBER: 08576127 (England and Wales)





ACCOUNTANTS: Norton Accountancy Ltd
7 Soundwell Road
Staple Hill
Bristol
BS16 4QG

Pure Commercial Finance Ltd (Registered number: 08576127)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,491 21,228
Investments 5 1 1
19,492 21,229

CURRENT ASSETS
Debtors 6 434,791 482,160
Cash at bank 38,640 49,385
473,431 531,545
CREDITORS
Amounts falling due within one year 7 (351,658 ) (391,922 )
NET CURRENT ASSETS 121,773 139,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,265

160,852

CREDITORS
Amounts falling due after more than one
year

8

(42,000

)

(135,753

)
NET ASSETS 99,265 25,099

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 99,165 24,999
99,265 25,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Pure Commercial Finance Ltd (Registered number: 08576127)

Balance Sheet - continued
31 December 2023


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 27 January 2025 and were signed on its behalf by:





B D Lloyd - Director


Pure Commercial Finance Ltd (Registered number: 08576127)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pure Commercial Finance 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pure Commercial Finance Ltd (Registered number: 08576127)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 53,708
Additions 5,874
At 31 December 2023 59,582
DEPRECIATION
At 1 January 2023 32,480
Charge for year 7,611
At 31 December 2023 40,091
NET BOOK VALUE
At 31 December 2023 19,491
At 31 December 2022 21,228

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,467 8,004
Amounts owed by group undertakings 97,102 125,327
Other debtors 334,222 348,829
434,791 482,160

Pure Commercial Finance Ltd (Registered number: 08576127)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 94,176 86,350
Trade creditors 81,596 84,969
Amounts owed to group undertakings 39,747 43,361
Taxation and social security 14,854 53,506
Other creditors 121,285 123,736
351,658 391,922

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 42,000 135,753

9. RELATED PARTY DISCLOSURES

The director of Pure Commercial Finance Limited, Benjamin Lloyd, is also a director of the following companies:

Pure Structured Finance Limited, Project Three Developments Ltd, Wells Lloyd Ltd, Kogan Bellamy Lloyd Ltd and Caer Capital Ltd

At the period end, the company was owed £97,102 by Pure Structured Finance Limited (2022 : £107,602).This amount is included in debtors and is repayable on demand.

At the period end, the company was owed £183,479 by Project Three Developments Ltd (2022 : £186,036). This amount is included in debtors and is repayable on demand.

At the period end, the company was owed £109,531 by Wells Lloyd Ltd (2022: - nil). This amount is included in debtors and is repayable on demand. This balance was repaid in full before 8 January 25.

At the period end, the company owed £88,986 to Kogan Bellamy Lloyd Ltd (2022: £59,987). This amount is included in creditors and is repayable on demand.

At the period end, the company owed £1,275 to Caer Capital Ltd (2022 : £30,000l). This amount is included in creditors and is repayable on demand.