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Company Registration No. SC615410 (Scotland)
Pure Sport Oil Limited Unaudited accounts for the year ended 31 December 2024
Pure Sport Oil Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Pure Sport Oil Limited Company Information for the year ended 31 December 2024
Directors
D Temm A Stewart S Moon R Senior N Manzoni
Company Number
SC615410 (Scotland)
Registered Office
Douglas House 42 Main Street Milngavie Glasgow G62 6BU
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Pure Sport Oil Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
59,313 
5,783 
Tangible assets
5
96,446 
25,264 
155,759 
31,047 
Current assets
Inventories
276,192 
320,386 
Debtors
6
544,423 
522,263 
Cash at bank and in hand
144,577 
445,895 
965,192 
1,288,544 
Creditors: amounts falling due within one year
7
(1,855,578)
(1,040,180)
Net current (liabilities)/assets
(890,386)
248,364 
Total assets less current liabilities
(734,627)
279,411 
Creditors: amounts falling due after more than one year
8
(162,818)
(16,066)
Net (liabilities)/assets
(897,445)
263,345 
Capital and reserves
Called up share capital
13,703 
13,703 
Share premium
2,086,960 
2,086,960 
Profit and loss account
(2,998,108)
(1,837,318)
Shareholders' funds
(897,445)
263,345 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by
S Moon Director Company Registration No. SC615410
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Pure Sport Oil Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Pure Sport Oil Limited is a private company, limited by shares, registered in Scotland, registration number SC615410. The registered office is Douglas House, 42 Main Street, Milngavie, Glasgow, G62 6BU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Fixtures & fittings
33% - 50% straight line
Computer equipment
20% straight line
Inventories
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Intangible fixed assets
Purchased domain names are included at cost less accumulated amortisation and impairment. Amortisation has been provided at a rate of 4% straight line. Website development costs are amortised at a rate of 50% straight line.
Going concern
The directors note that the company delivered revenue growth in the year ended 31 December 2024, and continued progress in expanding both the brand and its customer base. Despite this, the balance sheet shows that the company has an excess of liabilities over assets at the balance sheet date. Prior to the year end, the Board initiated a fundraising process which was concluded successfully in February 2025. The company raised approximately £3.3 million in new equity funding from two institutional venture capital investors, alongside additional subscriptions from a number of existing shareholders. This transaction has materially strengthened the company’s balance sheet, provided substantial new working capital, and ensures the business is appropriately capitalised to meet its obligations and support its growth strategy. Accordingly, the directors are satisfied that it is appropriate to prepare the financial statements on a going concern basis.
- 5 -
Pure Sport Oil Limited Notes to the Accounts for the year ended 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
5,843 
Additions
66,305 
At 31 December 2024
72,148 
Amortisation
At 1 January 2024
60 
Charge for the year
12,775 
At 31 December 2024
12,835 
Net book value
At 31 December 2024
59,313 
At 31 December 2023
5,783 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
38,287 
- 
8,397 
46,684 
Additions
50,364 
37,359 
5,250 
92,973 
At 31 December 2024
88,651 
37,359 
13,647 
139,657 
Depreciation
At 1 January 2024
17,570 
- 
3,850 
21,420 
Charge for the year
14,958 
4,907 
1,926 
21,791 
At 31 December 2024
32,528 
4,907 
5,776 
43,211 
Net book value
At 31 December 2024
56,123 
32,452 
7,871 
96,446 
At 31 December 2023
20,717 
- 
4,547 
25,264 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
145,342 
151,187 
Accrued income and prepayments
398,714 
261,132 
Other debtors
367 
109,944 
544,423 
522,263 
- 6 -
Pure Sport Oil Limited Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
664,137 
3,600 
VAT
208,624 
43,050 
Trade creditors
661,034 
749,295 
Taxes and social security
98,509 
39,423 
Other creditors
121,200 
21,523 
Accruals
102,074 
183,289 
1,855,578 
1,040,180 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,817 
16,066 
Other creditors
150,001 
- 
162,818 
16,066 
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
103,334 
103,334 
Later than one year and not later than five years
43,056 
109,398 
146,390 
212,732 
10
Average number of employees
During the year the average number of employees was 12 (2023: 10).
- 7 -