Registered number
12557708
Pure Restoration Ltd
Filleted Accounts
31 December 2024
Pure Restoration Ltd
Registered number: 12557708
Balance Sheet
as at 31 December 2024
Notes 2024
£
Fixed assets
Intangible assets 3 140,000
Tangible assets 4 327,423
467,423
Current assets
Work in progress 125,000
Debtors 5 78,625
Cash at bank and in hand 82,010
285,635
Creditors: amounts falling due within one year 6 (217,390)
Net current assets 68,245
Total assets less current liabilities 535,668
Creditors: amounts falling due after more than one year 7 (392,848)
Net assets 142,820
Capital and reserves
Called up share capital 900
Profit and loss account 141,920
Shareholders' funds 142,820
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.
John Silvester
Director
Approved by the board on 11 April 2025
Pure Restoration Ltd
Notes to the Accounts
for the period from 1 May 2024 to 31 December 2024
1 Accounting policies
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 includes revenue earned from from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets included in the accounts relate to area franchises. The value of goodwill on franchises are based on the market value at the balance sheet date. The franchises are not amortised, but instead subject to annual reviews for impairment.
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, 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 25% per annum
Motor vehicles 25% per annum
Work in progress
Work in progress are measured at the lower of cost and estimated sales price less costs to complete.
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). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024
Number
Average number of persons employed by the company 18
3 Intangible fixed assets £
Goodwill on area franchises:
Cost
Additions 140,000
At 31 December 2024 140,000
Amortisation
At 31 December 2024 -
Net book value
At 31 December 2024 140,000
The valuation of goodwill on area franchises are based on the market value at the balance sheet date. The franchises belong to a homogeneous population of assets that are equivalent in all material respects and there is an active market, evidenced by frequent transactions, for the population of assets. The value of the franchise is capable of continued measurement in the future. A true and fair view will be given if the franchises are not amortised, but instead subject to annual reviews for impairment.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 210,064 164,135 374,199
At 31 December 2024 210,064 164,135 374,199
Depreciation
Charge for the period 26,258 20,518 46,776
At 31 December 2024 26,258 20,518 46,776
Net book value
At 31 December 2024 183,806 143,617 327,423
5 Debtors 2024
£
Trade debtors 62,090
Other debtors 16,535
78,625
6 Creditors: amounts falling due within one year 2024
£
Obligations under finance lease and hire purchase contracts 33,262
Trade creditors 83,316
Taxation and social security costs 36,538
Other creditors 64,274
217,390
7 Creditors: amounts falling due after one year 2024
£
Obligations under finance lease and hire purchase contracts 65,348
Director's loans 217,500
Other creditors 110,000
392,848
8 Other information
Pure Restoration Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit A1 Westpoint Ind Estate
Penarth Road
Cardiff
Wales
CF11 8JQ
Pure Restoration Ltd 12557708 false 2024-05-01 2024-12-31 2024-12-31 VT Final Accounts April 2024 John Silvester No description of principal activity 12557708 2024-05-01 2024-12-31 12557708 bus:PrivateLimitedCompanyLtd 2024-05-01 2024-12-31 12557708 bus:AuditExemptWithAccountantsReport 2024-05-01 2024-12-31 12557708 bus:Director40 2024-05-01 2024-12-31 12557708 1 2024-05-01 2024-12-31 12557708 2 2024-05-01 2024-12-31 12557708 core:Goodwill 2024-05-01 2024-12-31 12557708 core:PlantMachinery 2024-05-01 2024-12-31 12557708 core:Vehicles 2024-05-01 2024-12-31 12557708 countries:England 2024-05-01 2024-12-31 12557708 bus:FRS102 2024-05-01 2024-12-31 12557708 bus:FilletedAccounts 2024-05-01 2024-12-31 12557708 2024-12-31 12557708 core:WithinOneYear 2024-12-31 12557708 core:AfterOneYear 2024-12-31 12557708 core:ShareCapital 2024-12-31 12557708 core:RetainedEarningsAccumulatedLosses 2024-12-31 12557708 core:Goodwill 2024-12-31 12557708 core:PlantMachinery 2024-12-31 12557708 core:Vehicles 2024-12-31 12557708 2024-04-30 iso4217:GBP xbrli:pure