REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2022 |
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PURE VIP LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2022 |
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FOR |
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PURE VIP LIMITED |
PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Pure VIP Limited is a
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Registered number: |
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Registered office: |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Motor vehicles | - |
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Equipment | - |
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All fixed assets are initially recorded at cost. |
PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
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Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
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Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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3. | ACCOUNTING POLICIES - continued |
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Going concern |
The accounts have been prepared on a going concern basis as the group and director are willing to support the company for the foreseeable future. |
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The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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5. | TANGIBLE FIXED ASSETS |
Motor |
vehicles | Equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
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Disposals | ( |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Deferred tax asset |
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PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Director's current account | 1,823 | 109,381 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 2-5 years |
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9. | DEFERRED TAX |
£ |
Balance at 1 April 2021 | ( |
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Provided during year |
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Balance at 31 March 2022 | ( |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
PURE VIP LIMITED (REGISTERED NUMBER: 08193356) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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11. | RELATED PARTY DISCLOSURES |
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Included in debtors is a balance of £13,518 (2021: £97,742) due from Pure Leisure Management Holdings Limited, the parent company. The amount is interest free and repayable on demand. |
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Included in debtors is a balance of £Nil (2021: £210) due from Round Clock Limited, a company in which the director has an interest as both director and shareholder. The amount is interest free and repayable on demand. |
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Included in creditors is a balance of £1,044 (2021: £Nil) due to Pure Management Limited, a company in which the director has an interest as both director and shareholder. The amount is interest free and repayable on demand. |
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Included in debtors is a balance of £676 (2021: £895 creditor) due from Pure VIP SL, a company incorporated in Spain, which share a director and shareholder. The amount is interest free and repayable on demand. |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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13. | PARENT COMPANY |
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The company is a wholly owned subsidiary of Pure Leisure Management Holdings Limited whose address is Croydon Hall, Felons Oak, Rodhuish, Minehead, Somerset TA24 6Q. |