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Registered number: 08714197









PURIFY DIGITAL LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PURIFY DIGITAL LTD
REGISTERED NUMBER: 08714197

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
$
$

Fixed assets
  

Intangible assets
 4 
-
69,467

Investments
 5 
1
1

  
1
69,468

Current assets
  

Debtors: amounts falling due within one year
 6 
314,703
291,465

Cash at bank and in hand
 7 
108,359
237,731

  
423,062
529,196

Creditors: amounts falling due within one year
 8 
(226,507)
(264,466)

Net current assets
  
 
 
196,555
 
 
264,730

Total assets less current liabilities
  
196,556
334,198

Creditors: amounts falling due after more than one year
 9 
(7,722)
(21,123)

Provisions for liabilities
  

Deferred tax
 10 
-
(13,199)

  
 
 
-
 
 
(13,199)

Net assets
  
188,834
299,876


Capital and reserves
  

Called up share capital 
  
160
160

Profit and loss account
  
188,674
299,716

  
188,834
299,876


Page 1

 
PURIFY DIGITAL LTD
REGISTERED NUMBER: 08714197
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 comprehensive income 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 30 July 2025.




Christopher Humby
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Purify Digital Limited is a company limited by shares and incorporated in England & Wales. The address of the registered office is 5 St John's Lane, London, EC1M 4BH.
The principal activity of the company during the year was the provision of digital marketing services.

2.Accounting policies

 
2.1

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:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue comprises digital marketing services receivable and is recognised in the Statement of Comprehensive Income in the period it is contractually generated. 

 
2.4

Interest income

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

Page 3

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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 reporting 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 reporting 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 reporting date.


 
2.6

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.
Intangible assets comprise two software applications that are in the course of being completed.  Depreciation will be provided on the intangible fixed assets at rates calculated to write each asset down to its estimated residual value over its expected useful life, as follows: 25% straight line.

Page 4

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
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.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short term creditors are measured at the transaction price.

 
2.12

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.

Page 5

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Employees

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


4.


Intangible assets




Software Applications

$



Cost


At 1 January 2024
238,106



At 31 December 2024

238,106



Amortisation


At 1 January 2024
168,639


Charge for the year on owned assets
69,467



At 31 December 2024

238,106



Net book value



At 31 December 2024
-



At 31 December 2023
69,467



Page 6

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


At 1 January 2024
1



At 31 December 2024
1





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Swap Ads EOOD
Bulgaria
Ordinary shares
100%

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Swap Ads EOOD
19,943
19,942

Page 7

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
$
$


Trade debtors
119,411
117,064

Amounts owed by group undertakings
68,402
58,757

Other debtors
10,165
1,442

Prepayments and accrued income
105,690
107,332

Vat recoverable
11,035
6,870

314,703
291,465



7.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
108,359
237,731

Less: bank overdrafts
(54)
(2,618)

108,305
235,113



8.


Creditors: Amounts falling due within one year

2024
2023
$
$

Bank overdrafts
54
2,618

Bank loans
12,975
12,867

Trade creditors
99,185
87,922

Amounts owed to group undertakings
18,314
43,239

Other taxation and social security
150
11,782

Accruals and deferred income
95,829
106,038

226,507
264,466



9.


Creditors: Amounts falling due after more than one year

2024
2023
$
$

Bank loans
7,722
21,123

7,722
21,123


Page 8

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Deferred taxation




2024


$






At beginning of year
13,199


Charged to profit or loss
(13,199)



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
$
$


Accelerated capital allowances
-
(13,199)

-
(13,199)


11.


Related party transactions

During the year the company obtained services totalling $193,638 (2023: $232,616) from Flat Rock Technology Limited, a company of which Ran Gazit-Berger is a director. Also during the year the company made purchases totalling $23,036 (2023: $22,378) from Flat Rock Technology Limited. All transactions were carried out at arms length. At the statement of financial position date the company owed $36,934 (2023: $22,489) to Flat Rock Technology Limited. The loan is repayable on demand and not interest bearing.
During the year the company obtained services totalling $239,026 (2023: $227,536) from its subsidiary Swap Ads EOOD. All transactions were carried out at arms length. At the statement of financial position date the company owed $5,879 (2023: $39,672) to Swap Ads EOOD. The loan is repayable on demand and not interest bearing.
During the year the company provided services totalling $4,812 (2023: 10,993) and made sales totalling $24,404 (2023: $13,638) to Ads Plus Limited, a company of which Idit Gazit-Berger, spouse of Ran Gazit-Berger is a director. Also during the year the company made purchases totalling $87,885 (2023: $6,232) and also used services totalling $Nil (2023: Nil) from Ads Plus Limited. All transactions were carried out at arms length. At the statement of financial position date the company was owed $11,095 (2023: $1,636) from Ads Plus Limited. The loan is repayable on demand and not interest bearing.
During the year the company provided services totalling $33,320 (2023: $10,993) and made sales totalling $2,967 (2023: $Nil) to Flame Digital Limited, a company of which  Ran Gazit-Berger is also a director. Also during the year the company made purchases totalling $63,646 (2023: $3,020) from Flame Digital Limited. All transactions were carried out at arms length. At the statement of financial position date the company was owed $67,062 (2023: $62,775) from Flame Digital Limited. The loan is repayable on demand and not interest bearing.

Page 9

 
PURIFY DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Controlling party

The company's parent company is Flame Group Limited, a company incorporated and registered in the British Virgin Islands. Idit Gazit-Berger and Ran Gazit-Berger each own 50% of Flame Group Limited and hold a controlling interest in Ads Plus Limited.

 
Page 10