Pure Training Solutions Limited Filleted accounts for Companies House (small and micro)

PURE TRAINING SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04613827

Pure Training Solutions Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2018

Pure Training Solutions Limited

Financial Statements

Year ended 31 December 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Pure Training Solutions Limited

Officers and Professional Advisers

Director	Mr A D G Brown

Company secretary	Mrs S Brown

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	The Royal Bank of Scotland plc
	10 Silver Street
	Hull
	HU1 1JE

Pure Training Solutions Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		2,050	1,226

Current assets

Debtors	5	14,278	25,000
Cash at bank and in hand		312	312
		--------	--------
		14,590	25,312

Creditors: amounts falling due within one year	6	14,077		14,833
		--------		--------
Net current assets			513	10,479
			-------	--------
Total assets less current liabilities			2,563	11,705

Provisions

Taxation including deferred tax	390	245
	-------	--------
Net assets	2,173	11,460
	-------	--------

Capital and reserves

Called up share capital	7	2	2
Profit and loss account		2,171	11,458
		-------	--------
Shareholders funds		2,173	11,460
		-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pure Training Solutions Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 14 September 2019 , and are signed on behalf of the board by:

Mr A D G Brown
Director

Company registration number: 04613827

Pure Training Solutions Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for work performed during the year.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less tax. Deferred tax is measured on an undisounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	10% straight line
Computer equipment	-	33% straight line
Office equipment	-	20% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

4. Tangible assets

	Fixtures and fittings	Computer equipment	Office equipment	Total
	£	£	£	£
Cost
At 1 January 2018	15,369	3,864	11,313	30,546
Additions	–	2,280	–	2,280
	--------	-------	--------	--------
At 31 December 2018	15,369	6,144	11,313	32,826
	--------	-------	--------	--------
Depreciation
At 1 January 2018	15,369	3,267	10,684	29,320
Charge for the year	–	1,214	242	1,456
	--------	-------	--------	--------
At 31 December 2018	15,369	4,481	10,926	30,776
	--------	-------	--------	--------
Carrying amount
At 31 December 2018	–	1,663	387	2,050
	--------	-------	--------	--------
At 31 December 2017	–	597	629	1,226
	--------	-------	--------	--------

5. Debtors

	2018	2017
	£	£
Trade debtors	3,529	3,652
Other debtors	10,749	21,348
	--------	--------
	14,278	25,000
	--------	--------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	7,930	6,976
Trade creditors	2,760	2,955
Corporation tax	2,147	3,702
Social security and other taxes	40	–
Other creditors	1,200	1,200
	--------	--------
	14,077	14,833
	--------	--------

Included in bank loans and overdrafts is a bank overdraft balance of £7,930 (2017: £6,976) which is personally guaranteed by the director.

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2.00	2	2.00
	----	-----	----	-----

8. Director's advances, credits and guarantees

At the statement of financial position date, the director owed the company £9,334 (2017: £18,799) via the directors loan account. This amount was repaid within 9 months of the statement of financial position date. The directors loan account is interest free, unsecured and repayable on demand.