REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 OCTOBER 2021 |
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FOR |
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PURE TOURING LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 OCTOBER 2021 |
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FOR |
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PURE TOURING LIMITED |
PURE TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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PURE TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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BALANCE SHEET |
31 OCTOBER 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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PURE TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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BALANCE SHEET - continued |
31 OCTOBER 2021 |
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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 TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
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1. | STATUTORY INFORMATION |
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Pure Touring 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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Preparation of consolidated financial statements |
The financial statements contain information about Pure Touring Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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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Government grants |
The entity has adopted the use of the accruals model in respect of grants received. |
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Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in ‘Other income’, in the period to which it relates. |
PURE TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
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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 TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Going concern |
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 (2020 - NIL). |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Directors' current accounts | 20,620 | 1,068 |
Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 2-5 years |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
PURE TOURING LIMITED (REGISTERED NUMBER: 11987296) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
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9. | RELATED PARTY DISCLOSURES |
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Included in other debtors is a loan balance of £122,087 (2020: £75,512) due from Artiste Group Limited, the parent company. The amount is interest free and repayable on demand. |
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Included in other debtors is a loan balance of £657 (2020: £11,230) due from Pure Management Limited, a member of the group. The amount is interest free and repayable on demand. |
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Included in other debtors is a loan balance of £35 (2020: £1,504) due from Pure VIP SL, a company in which the director is the sole director. The amount is interest free and repayable on demand. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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11. | PARENT COMPANY |
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The company is a wholly owned subsidiary of Artiste Group Limited whose address is Croydon Hall, Felons Oak, Rodhuish, Minehead, Somerset TA24 6Q. |