REGISTERED NUMBER: 11172948 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PURE OFFICES READING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A Bishop

R A Pellatt

N J Turner

K J Whell

REGISTERED OFFICE:

The Blade

Abbey Square

Reading

United Kingdom

RG1 3BE

REGISTERED NUMBER:

11172948 (England and Wales)

INDEPENDENT AUDITORS:

Cooper Parry Group Limited

Statutory Auditor

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Tangible assets

4

141,699

158,740

CURRENT ASSETS

Debtors

5

464,329

461,203

Cash at bank

676,408

614,412

1,140,737

1,075,615

CREDITORS

Amounts falling due within one year

6

3,638,165

3,321,157

NET CURRENT LIABILITIES

(2,497,428

)

(2,245,542

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,355,729

)

(2,086,802

)

CREDITORS

Amounts falling due after more than one year

7

41,222

51,939

NET LIABILITIES

(2,396,951

)

(2,138,741

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(2,396,952

)

(2,138,742

)

SHAREHOLDERS' FUNDS

(2,396,951

)

(2,138,741

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

A Bishop - Director

1.	GENERAL INFORMATION

Pure Offices Reading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Financial statements prepared on a basis other than going concern

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis other than going concern

Subsequent to the period end the company has served notice to break its lease, the lease will end in April 2026. Once the lease ends the intention of the directors is for the company to cease trading.

It is therefore considered appropriate by the directors to prepare the financial statements on a basis other than a going concern.

Turnover

Turnover represents rentals received, net of any applicable VAT. Rentals received are recognised in the period to which they relate.

Tangible fixed assets

Tangible 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.

The estimated useful lives range as follows:

Computer equipment - 100% in the year of acquisition

Fixtures & fittings - 15% 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed to group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and amounts owed to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Amounts owed by group undertakings

Cash received as rent income and deposit balances have been reclassified from cash to amounts owed by group undertakings.

Debtors

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

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

Creditors

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Operating leases

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

188,160

Additions

11,769

At 31 December 2024

199,929

DEPRECIATION

At 1 January 2024

29,420

Charge for year

28,810

At 31 December 2024

58,230

NET BOOK VALUE

At 31 December 2024

141,699

At 31 December 2023

158,740

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

75,237

56,355

Amounts owed by related parties

189,617

171,635

Other debtors

199,475

233,213

464,329

461,203

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,017

8,544

Amounts owed to related parties

3,441,940

3,172,272

Other creditors

193,208

140,341

3,638,165

3,321,157

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

41,222

51,939

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

563,170

563,170

Between one and five years

154,293

717,463

717,463

1,280,633

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£0.01

1

1

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Thomas FCCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

Emphasis of matter - basis of preparation of financial statements

Subsequent to the period end the company has served notice to break its lease, the lease will end in April 2026. Once the lease ends the intention of the directors is for the company to cease trading.

It is therefore considered appropriate by the directors to prepare the financial statements on a basis other than a going concern.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those carried out under normal market conditions.

12.	ULTIMATE CONTROLLING PARTY AND CONTROLLING PARTY

The immediate parent of the Company is NW UK Pure Holdings Limited and the ultimate parent company is NW Regional Holdco Limited.

NW Regional Holdco Limited, the controlling party, is a Jersey registered company. The registered office address is 44 Esplanade, St. Helier, JE4 9WG, Jersey.