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Registered number: 7057854










SPIRIT PURE CREATIVITY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
SPIRIT PURE CREATIVITY LIMITED
REGISTERED NUMBER: 7057854

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,724
22,491

  
17,724
22,491

Current assets
  

Debtors: amounts falling due within one year
 5 
4,040
15,655

Cash at bank and in hand
 6 
4,289
16,638

  
8,329
32,293

Creditors: amounts falling due within one year
 7 
(21,200)
(31,683)

Net current (liabilities)/assets
  
 
 
(12,871)
 
 
610

Total assets less current liabilities
  
4,853
23,101

Creditors: amounts falling due after more than one year
 8 
(13,587)
(25,662)

  

Net liabilities
  
(8,734)
(2,561)


Capital and reserves
  

Called up share capital 
  
2,000
2,000

Profit and loss account
  
(10,734)
(4,561)

  
(8,734)
(2,561)


Page 1

 
SPIRIT PURE CREATIVITY LIMITED
REGISTERED NUMBER: 7057854

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.




M J Roberts
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Going concern

The company had net liabilities at 31 October 2024 of £8,734 (2023 : £2,561). However, the directors are of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of these factors, the directors considers it appropriate to adopt the going concern basis in the preparation of these financial statements.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.Accounting policies (continued)

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Straight line over life of lease
Motor vehicles
-
25% reducing balance
Office equipment
-
25% straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.Accounting policies (continued)

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Spirit Pure Creativity Limited is a private limited company incorporated in England and Wales.
The registered office is 4 Chester Court, Chester Hall Lane, Basildon, Essex, SS14 3WR.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
3,880
30,903
15,029
49,812



At 31 October 2024

3,880
30,903
15,029
49,812



Depreciation


At 1 November 2023
-
12,541
14,779
27,320


Charge for the year on owned assets
388
-
172
560


Charge for the year on financed assets
-
4,208
-
4,208



At 31 October 2024

388
16,749
14,951
32,088



Net book value



At 31 October 2024
3,492
14,154
78
17,724



At 31 October 2023
3,880
18,362
249
22,491

Page 6

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
10,950

Other debtors
1,439
1,667

Deferred taxation
2,601
3,038

4,040
15,655



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,289
16,638



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,037
5,862

Corporation tax
1,632
11,568

Other taxation and social security
222
5,496

Obligations under finance lease and hire purchase contracts
6,037
5,135

Other creditors
5,750
1,296

Accruals and deferred income
1,522
2,326

21,200
31,683


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
6,037
5,135

6,037
5,135

Details of security provided:

Secured against specific motor vehicles.

Page 7

 
SPIRIT PURE CREATIVITY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,149
9,187

Net obligations under finance leases and hire purchase contracts
10,438
16,475

13,587
25,662


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
10,438
16,475

10,438
16,475

Details of security provided:

Secured against specific motor vehicles.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,037
5,862


Amounts falling due 2-5 years

Bank loans
3,149
9,187


9,186
15,049



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,600
6,600

Between 1-5 years
10,444
17,044

17,044
23,644


Page 8