1 July 2023 v2025.6.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPNI6800802023-07-012024-06-30NI6800802024-06-30NI6800802023-06-30NI680080core:WithinOneYear2024-06-30NI680080core:WithinOneYear2023-06-30NI680080core:ShareCapital2024-06-30NI680080core:ShareCapital2023-06-30NI680080core:RetainedEarningsAccumulatedLosses2024-06-30NI680080core:RetainedEarningsAccumulatedLosses2023-06-30NI680080bus:Director12023-07-012024-06-30NI680080bus:RegisteredOffice2023-07-012024-06-30NI680080core:PlantMachinery2023-07-012024-06-30NI6800802022-07-012023-06-30NI680080core:PlantMachinery2023-07-01NI680080core:PlantMachinery2024-06-30NI680080core:PlantMachinery2023-06-30NI68008012023-07-012024-06-30NI680080countries:NorthernIreland2023-07-012024-06-30NI680080bus:AuditExemptWithAccountantsReport2023-07-012024-06-30NI680080bus:PrivateLimitedCompanyLtd2023-07-012024-06-30NI680080bus:SmallEntities2023-07-012024-06-30NI680080bus:FullAccounts2023-07-012024-06-30
Company registration number:
NI680080
Pureair Ventilation Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2024
Pureair Ventilation Ltd
Chartered accountant's report to the board of directors on the unaudited statutory financial statements of Pureair Ventilation Ltd
Year ended
30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the
financial statements
of the company which comprise the income statement, statement of financial position and related notes from the accounting records and information and explanations you have given to us.
This report is made to the Company’s Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the
financial statements
that we have been engaged to compile, report to the Company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work, or for this report.
We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the Code of Ethics for Members published by the Institute relating to members undertaking the compilation of
financial statements
.
You have acknowledged on the statement of financial position for the year ended
30 June 2024
your duty under the Companies Act 2006 to ensure that the company has kept adequate accounting records and prepared
financial statements
which give a true and fair view of the assets, liabilities and financial position of the company at the end of its year and of its profit or loss for that year, and otherwise comply with the provisions of the Companies Act 2006 relating to
financial statements
so far as they are applicable to the company. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the
financial statements
. 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
financial statements
.
Diver Donaghy & Company Ltd
Gortfoyle Business Centre
104-108 Spencer Road
Londonderry
BT47 6AG
United Kingdom
Pureair Ventilation Ltd
Statement of Financial Position
30 June 2024
20242023
Note££
Fixed assets    
Tangible assets 5
27,000
 
7,312
 
Current assets    
Stocks
77,340
 
42,800
 
Debtors 6
160,194
 
261,767
 
Cash at bank and in hand
204,909
 
192,682
 
442,443
 
497,249
 
Creditors: amounts falling due within one year 7
(208,001
)
(300,946
)
Net current assets
234,442
 
196,303
 
Total assets less current liabilities 261,442   203,615  
Capital and reserves    
Called up share capital
3
 
3
 
Profit and loss account
261,439
 
203,612
 
Shareholders funds
261,442
 
203,615
 
For the year ending
30 June 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
17 January 2025
, and are signed on behalf of the board by:
Mr I Dunlop
Director
Company registration number:
NI680080
Pureair Ventilation Ltd
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
1-4 Gortfoyle Business Centre
,
104-108 Spencer Road
,
Derry
,
Derry
,
BT47 6AG
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
17
(2023:
16.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2023
7,312
 
Additions
22,575
 
At
30 June 2024
29,887
 
Depreciation  
At
1 July 2023
-  
Charge
2,887
 
At
30 June 2024
2,887
 
Carrying amount  
At
30 June 2024
27,000
 
At 30 June 2023
7,312
 

6 Debtors

20242023
££
Trade debtors
149,743
 
139,737
 
Other debtors
10,451
 
122,030
 
160,194
 
261,767
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
47,989
 
147,493
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
25,000
 
25,000
 
Taxation and social security
18,259
 
17,955
 
Other creditors
116,753
 
110,498
 
208,001
 
300,946