Company Registration No. 12616097 (England and Wales)
PURA BRANDS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 21 MAY 2020 TO 31 MAY 2021
PAGES FOR FILING WITH REGISTRAR
PURA BRANDS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PURA BRANDS LIMITED
BALANCE SHEET
AS AT 31 MAY 2021
31 May 2021
- 1 -
2021
Notes
£
£
Fixed assets
Tangible assets
3
3,141
Current assets
Debtors
4
19,359
Cash at bank and in hand
33,012
52,371
Creditors: amounts falling due within one year
5
(1,837)
Net current assets
50,534
Total assets less current liabilities
53,675
Creditors: amounts falling due after more than one year
6
(1,250)
Net assets
52,425
Capital and reserves
Called up share capital
7
1,000
Share premium account
119,738
Profit and loss reserves
(68,313)
Total equity
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 period ended 31 May 2021 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 period 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 BRANDS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2021
31 May 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 April 2022 and are signed on its behalf by:
Mr R K Knowles
Director
Company Registration No. 12616097
PURA BRANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2021
- 3 -
1
Accounting policies
Company information
Pura Brands Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
71-75 Shelton Street, Convent Garden, London, WC2H 9JQ.
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
Reporting period
This is the first time the company has presented its financial statements since incorporation, hence the
financial statements presented are for the period of more than twelve months with no comparatives.
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
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
.
1.5
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.
PURA BRANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2021
1
Accounting policies
(Continued)
- 4 -
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.
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2021
Number
Total
3
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 21 May 2020
Additions
2,530
957
3,487
At 31 May 2021
2,530
957
3,487
Depreciation and impairment
At 21 May 2020
Depreciation charged in the period
186
160
346
At 31 May 2021
186
160
346
Carrying amount
At 31 May 2021
2,344
797
3,141
PURA BRANDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2021
- 5 -
4
Debtors
2021
Amounts falling due within one year:
£
Other debtors
19,359
5
Creditors: amounts falling due within one year
2021
£
Trade creditors
1,837
6
Creditors: amounts falling due after more than one year
2021
£
Other creditors
1,250
7
Called up share capital
2021
2021
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary shares of 1p each
61,600
616
B Ordinary shares of 1p each
34,400
344
C Oridinary Shares of 1p each
4,000
40
100,000
1,000
During the period the company issued 61,600 'A' ordinary shares of £0.01 each at par value.
During the period the company issued 34,400 'B' ordinary shares of £0.01 each at par value at a premium of £3.48076.
In addition the company also issued '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
debtor
s as at the balance sheet date is £12,912
o
wed
by
the director. The maximum balance on the loan during the year was £12,138 and interest of £774 has been charged on this balance at HMRC's official rate.