Purity Global Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05237012

Purity Global Limited

Filleted Unaudited Financial Statements

31 December 2024

Purity Global Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	6	17,600	–
Tangible assets	7	118,185	4,278
		---------	-------
		135,785	4,278

Current assets

Stocks		1,293,714	982,765
Debtors	8	2,719,164	2,679,047
Cash at bank and in hand		676,807	464,075
		------------	------------
		4,689,685	4,125,887

Creditors: amounts falling due within one year	9	2,872,094		3,107,324
		------------		------------
Net current assets			1,817,591		1,018,563
			------------		------------
Total assets less current liabilities			1,953,376		1,022,841

Creditors: amounts falling due after more than one year	10		12,497		1,347

Provisions

Taxation including deferred tax	31,718	873
	------------	------------
Net assets	1,909,161	1,020,621
	------------	------------

Capital and reserves

Called up share capital	12	106	106
Fair value reserve		( 12,497)	( 1,347)
Profit and loss account		1,921,552	1,021,862
		------------	------------
Shareholders funds		1,909,161	1,020,621
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

Purity Global Limited

Statement of Financial Position (continued)

31 December 2024

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:

Mr BR Matson
Director

Company registration number: 05237012

Purity Global Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Deep Business Centre, Tower Street, Hull, HU1 4BG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Derivative financial instruments and hedge accounting

The company's activities expose it to the financial risks of changes in foreign exchange rates.

The use of financial derivatives is governed by the company's policies approved by the board of directors, which provide written principles on the use of financial derivatives.

Derivative financial instruments are initially measured at fair value on the contract date and are subsequently remeasured to fair value at each reporting date. The company designates certain derivatives as cash flow hedges with the change of fair value recognised in assets and liabilities (Cash flow hedges). Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or exercised, no longer qualifies for hedge accounting or the company chooses to end the hedging relationship.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	16% straight line
Motor vehicles	-	20% straight line
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	408,992	196,896

Deferred tax:

Origination and reversal of timing differences	30,845	–
	---------	---------
Tax on profit	439,837	196,896
	---------	---------

6. Intangible assets

	Software
	£
Cost
Additions	17,600
	--------
At 31 December 2024	17,600
	--------
Amortisation
At 1 January 2024 and 31 December 2024	–
	--------
Carrying amount
At 31 December 2024	17,600
	--------
At 31 December 2023	–
	--------

7. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	–	–	15,943	15,943
Additions	54,776	60,939	3,983	119,698
	--------	--------	--------	---------
At 31 December 2024	54,776	60,939	19,926	135,641
	--------	--------	--------	---------
Depreciation
At 1 January 2024	–	–	11,665	11,665
Charge for the year	1,522	1,016	3,253	5,791
	--------	--------	--------	---------
At 31 December 2024	1,522	1,016	14,918	17,456
	--------	--------	--------	---------
Carrying amount
At 31 December 2024	53,254	59,923	5,008	118,185
	--------	--------	--------	---------
At 31 December 2023	–	–	4,278	4,278
	--------	--------	--------	---------

8. Debtors

	2024	2023
	£	£
Trade debtors	2,494,688	2,559,649
Prepayments and accrued income	200,592	95,282
Other debtors	23,884	24,116
	------------	------------
	2,719,164	2,679,047
	------------	------------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,697,281	1,368,373
Amounts owed to undertakings in which the company has a participating interest	( 3,963)	73,013
Accruals and deferred income	132,930	376,344
Corporation tax	379,317	197,430
Social security and other taxes	593,444	858,966
Director loan accounts	72,085	12,941
Other creditors	1,000	2,000
Other loans	–	218,257
	------------	------------
	2,872,094	3,107,324
	------------	------------

The value included within other loans represents a debenture comprising of a fixed and floating charge over all of the company's assets.

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Derivative financial liability	12,497	1,347
	--------	-------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	31,718	873
	--------	----

12. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	99	99	99	99
Ordinary B shares of £ 1 each	1	1	1	1
Ordinary C shares of £ 1 each	6	6	6	6
	----	----	----	----
	106	106	106	106
	----	----	----	----

13. Director's advances, credits and guarantees

During the year there were no director's advances, credits and guarantees.