Company registration number 12616097 (England and Wales)
PURA COLLAGEN LIMITED
PREVIOUSLY KNOWN AS PURA BANDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
PAGES FOR FILING WITH REGISTRAR
PURA COLLAGEN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PURA COLLAGEN LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,191
3,141
Current assets
Debtors
4
255,069
19,359
Cash at bank and in hand
40,095
33,012
295,164
52,371
Creditors: amounts falling due within one year
5
(329,024)
(1,837)
Net current (liabilities)/assets
(33,860)
50,534
Total assets less current liabilities
(28,669)
53,675
Creditors: amounts falling due after more than one year
6
(1,250)
Net (liabilities)/assets
(28,669)
52,425
Capital and reserves
Called up share capital
7
1,033
1,000
Share premium account
134,717
119,738
Profit and loss reserves
(164,419)
(68,313)
Total equity
(28,669)
52,425
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PURA COLLAGEN LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2023 and are signed on its behalf by:
R Knowles
Director
Company Registration No. 12616097
PURA COLLAGEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information
Pura Collagen Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
1 High Street, Chalfont St. Peter, Gerrads Cross, England, SL9 9QE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the company's net liabilities was
true
£
28,669
.
The directors consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
If the company was unable to continue to obtain sufficient funding to enable it to pay its debts as they fell due, it would be unable to continue trading and adjustments would have to be made reduce the value of assets to their realisable amount, to provide for any further liabilities which might arise.
1.3
Turnover
Turnover is recognised at the fair value of the consideration receivable f
rom
retail sale via mail order house or via internet
.
Income is recognised in the period to which it
relates.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
1.5
Tangible fixed assets
Tangible fixed assets
are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computers
33.33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
PURA COLLAGEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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
debtors
and cash and bank balances, are measured at transaction price including transaction costs.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors
are
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. Financial liabilities classified as payable within one
year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
PURA COLLAGEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2021
2,530
957
3,487
Additions
475
2,814
3,289
At 31 May 2022
3,005
3,771
6,776
Depreciation and impairment
At 1 June 2021
186
160
346
Depreciation charged in the year
627
612
1,239
At 31 May 2022
813
772
1,585
Carrying amount
At 31 May 2022
2,192
2,999
5,191
At 31 May 2021
2,344
797
3,141
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
138,213
Corporation tax recoverable
105,957
Other debtors
10,899
19,359
255,069
19,359
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
126,126
1,837
Taxation and social security
37,898
Other creditors
165,000
329,024
1,837
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
1,250
PURA COLLAGEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 6 -
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
61,600
61,600
616
616
B Ordinary shares of 1p each
34,400
34,400
376
344
C Oridinary Shares of 1p each
4,000
4,000
41
40
100,000
100,000
1,033
1,000
During the
year
the company issued
3,221 '
'B' ordinary shares of £0.01 each at par value
.
During the year the company issued 134 'C' Ordinary Shares of £0.01 each at par value.
Full details of the rights attached to each class of shares including the right to income and distributions and the rights in respect to a return of capital on liquidation, winding up or otherwise is shown in the company's statutory records and in particular its statement of capital, all classes of shares are ranked Pari Passu.
8
Related party transactions
Included within other debtors as at the balance sheet date is an aggregate balance of £6,454 (2021: £
12,911
) owed by the director. The maximum amount outstanding during the year was £67,980 and interest of £619 (2021: £
774
) has been charged at the HMRC official rate.