2024-01-012024-12-312024-12-31false07225701PURE REAL ESTATE SERVICES 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PURE REAL ESTATE SERVICES LTD

Registered Number
07225701
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PURE REAL ESTATE SERVICES LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

ANTILL, Jason Peter Jeffries

Registered Address

128 Cherry Orchard Road
Croydon
CR0 6BB

Registered Number

07225701 (England and Wales)
PURE REAL ESTATE SERVICES LTD
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets448,34459,047
48,34459,047
Current assets
Debtors51,641,262944,010
Cash at bank and on hand1,214,7831,293,667
2,856,0452,237,677
Creditors amounts falling due within one year6(351,163)(254,649)
Net current assets (liabilities)2,504,8821,983,028
Total assets less current liabilities2,553,2262,042,075
Provisions for liabilities7(12,000)(14,700)
Net assets2,541,2262,027,375
Capital and reserves
Called up share capital100100
Profit and loss account2,541,1262,027,275
Shareholders' funds2,541,2262,027,375
The financial statements were approved and authorised for issue by the Director on 13 March 2025, and are signed on its behalf by:
ANTILL, Jason Peter Jeffries
Director
Registered Company No. 07225701
PURE REAL ESTATE SERVICES LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on the following bases: Goodwill - 10% straight line Other intangible fixed assets - 20% straight line
Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other 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.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year55
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 2460,00012,18372,183
At 31 December 2460,00012,18372,183
Amortisation and impairment
At 01 January 2460,00012,18372,183
At 31 December 2460,00012,18372,183
Net book value
At 31 December 24---
At 31 December 23---
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 2463,937197,495261,432
Additions-4,6914,691
At 31 December 2463,937202,186266,123
Depreciation and impairment
At 01 January 2459,568142,817202,385
Charge for year1,09314,30115,394
At 31 December 2460,661157,118217,779
Net book value
At 31 December 243,27645,06848,344
At 31 December 234,36954,67859,047
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables299,481323,028
Other debtors1,329,303607,979
Prepayments and accrued income12,47813,003
Total1,641,262944,010
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,1942,574
Taxation and social security341,580239,851
Other creditors148126
Accrued liabilities and deferred income3,24112,098
Total351,163254,649
7.Provisions for liabilities
The provision for deferred tax arises from the accelerated capital allowances on tangible fixed assets.

2024

2023

££
Net deferred tax liability (asset)12,00014,700
Total12,00014,700
8.Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund during the year and amounted to £719 (2023 - £649).
9.Other commitments
At 31 December 2024 the company had future minimum lease payments under non-cancellable operating leases of £82,125 (2023 - £63,375).
10.Directors advances, credits and guarantees
During the year a director had a loan account with the company. During the period the director was advanced £44,526 and repaid £9,386. At the balance sheet date, the director owed the company £163,780 (2023 - £119,254). Interest of £3,184 was charged on the loan which is unsecured and repayable upon demand.
11.Related party transactions
During the year the company had a loan account with Tide Property Assets Ltd, a company in which the director of this company is sole director. At the balance sheet date Tide Property Assets Ltd owed the company £1,089,329 (2023 - £448,477). This loan is unsecured, interest free and repayable upon demand. During the year the company rented a property from Tide Property Assets Ltd, a company under the control of Mr J Antill the company director. No rent was charged by Tide Property Assets Ltd for the use of this property (2023 - £nil).