Purechannels Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05485704 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PURECHANNELS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G Robertson

D J Bach

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

05485704 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Tangible assets

4

17,143

11,364

CURRENT ASSETS

Debtors

5

143,468

66,614

Cash at bank

241,242

67,329

384,710

133,943

CREDITORS

Amounts falling due within one year

6

135,983

80,630

NET CURRENT ASSETS

248,727

53,313

TOTAL ASSETS LESS CURRENT LIABILITIES

265,870

64,677

CREDITORS

Amounts falling due after more than one year

7

(40,000

)

-

PROVISIONS FOR LIABILITIES

(3,257

)

-

NET ASSETS

222,613

64,677

CAPITAL AND RESERVES

Called up share capital

25

25

Capital redemption reserve

75

75

Retained earnings

222,513

64,577

222,613

64,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2021 and were signed on its behalf by:

G Robertson - Director

1.	STATUTORY INFORMATION

Purechannels Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2020

19,063

Additions

10,820

Disposals

(3,197

)

At 31 December 2020

26,686

DEPRECIATION

At 1 January 2020

7,699

Charge for year

3,224

Eliminated on disposal

(1,380

)

At 31 December 2020

9,543

NET BOOK VALUE

At 31 December 2020

17,143

At 31 December 2019

11,364

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

140,198

65,876

Other debtors

300

-

Prepayments and accrued income

2,970

738

143,468

66,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

10,000

-

Trade creditors

14,353

17,373

Tax

56,478

13,713

Social security and other taxes

19,233

6,372

VAT

33,419

27,032

Other creditors

-

1,140

Directors' current accounts

-

12,000

Accrued expenses

2,500

3,000

135,983

80,630

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans - 1-2 years

20,000

-

Bank loans - 2-5 years

20,000

-

40,000

-

8.	RELATED PARTY DISCLOSURES

At the year end TOBO Limited, a company in which G Robertson is also a director, owed the company £300 in relation to an expense paid on the company's behalf. There are no terms attached to this loan.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Purechannels Limited for the year ended 31 December 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Purechannels Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Purechannels Limited and state those matters that we have agreed to state to the Board of Directors of Purechannels Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purechannels Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Purechannels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Purechannels Limited. You consider that Purechannels Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Purechannels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

10 June 2021